September 2016 Consent Agenda

STATE BOARD OF EDUCATION
September 16, 2016

(1) Decision on the Percentage Distribution of the Permanent School Fund
(Committee of the Full Board)

This item provides an opportunity for the committee and board to evaluate and determine the percentage distribution of the Permanent School Fund for fiscal years 2018-2019. Statutory authority for this action is the Texas Constitution, Article VII, Section 5.

(2) Adoption of Work Plan for the Long-Range Plan for Public Education
(Committee of the Full Board)

This item provides an opportunity for the board to review and approve a work plan outlining the process to be followed in creating a Long-Range Plan for Public Education. Statutory authority for this action is the Texas Education Code (TEC), §7.102(c)(1).

(3) Per Capita Apportionment Rate for the 2016-2017 School Year
(Committee on School Finance/Permanent School Fund)

The board is responsible for setting a per capita apportionment rate for each school year based on an estimate of the amount available for expenditures from the Available School Fund. Agency staff members will propose a recommended revised rate for the 2016-2017 school year at the September meeting of the Committee on School Finance/Permanent School Fund. Statutory authority for this action is the Texas Education Code (TEC), §42.004 and §43.001(b).

(4) Ratification of the Purchases and Sales of the Investment Portfolio of the Permanent School Fund for the Months of June and July 2016
(Committee on School Finance/Permanent School Fund)

This item provides an opportunity for the committee and board to consider approval of the purchases and sales of investments executed in the portfolio of the Permanent School Fund for the months of June and July 2016. Statutory authority for this action is the Texas Constitution, Article VII, §5(f).

(5) Determination as to Whether Transfers May be Made from the Permanent School Fund to the Available School Fund
(Committee on School Finance/Permanent School Fund)

This item provides an opportunity for the board to review the requirement in Article VII, §5(a)(2) that the total amount distributed over 10 years cannot exceed the total return on all investment assets of the PSF over the same 10 year period. The board will determine whether transfers may be made from the Permanent School Fund to the Available School Fund in fiscal year 2017. Statutory authority for this action is the Texas Constitution, Article VII, §5.

(6) Proposed Amendments to the Investment Procedures Manual
(Committee on School Finance/Permanent School Fund)

This item provides an opportunity for the committee and board to review and adopt proposed amendments to the Investment Procedures Manual. Statutory authority for this action is the Texas Constitution, Article VII, §5(f).

(7) Authorization to Issue a Request for Proposals for Passive International Equities Management Services for the Permanent School Fund
(Committee on School Finance/Permanent School Fund)

This item provides an opportunity for the board to approve the issuance of a request for proposals for passive investing of the international equities portfolio of the Permanent School Fund through a managed account, a commingled fund, a fund of one, or some other vehicle. Statutory authority for this action is the Texas Constitution, Article VII, §5(f).

(8) Decision on Real Estate Investments
(Committee on School Finance/Permanent School Fund)

This item provides an opportunity for the committee and board to review and consider possible real estate investments. Statutory authority for this action is the Texas Constitution, Article VII, §5(f).

(9) Overview of the Permanent School Fund Real Estate Policy
(Committee on School Finance/Permanent School Fund)

This item provides an opportunity for the committee and board to review the real estate policy. The committee may take action based on this information. Statutory authority for this action is the Texas Constitution, Article VII, §5(f).