November 2017 Committee on School Finance Permanent School Fund Item 9

Management of Charter District Bond Guarantee Reserve Fund

November 10, 2017

COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: ACTION
STATE BOARD OF EDUCATION: CONSENT

SUMMARY: The committee will hear a discussion on the management of the charter district bond guarantee reserve fund and will provide direction.

STATUTORY AUTHORITY: Texas Constitution, Article VII, §5(f).

PREVIOUS BOARD ACTION: None.

BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: Not applicable.

FISCAL IMPACT: The distribution of the Permanent School Fund is projected to be $2.5 billion during the 2018-2019 biennium.

PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.

PUBLIC AND STUDENT BENEFIT: The distribution of the Permanent School Fund will flow to the school districts and reduce the tax burden to the public and the state of Texas.

PUBLIC PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.

PUBLIC COMMENTS: None.

OTHER COMMENTS AND RELATED ISSUES: None.

Staff Member Responsible:
Holland Timmins, Executive Administrator
and Chief Investment Officer of the
Texas Permanent School Fund