Jan-Feb 2018 Committee on School Finance Permanent School Fund Item 13

Review of Permanent School Fund Benchmarks

February 2, 2018

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

SUMMARY: This item provides an opportunity for the committee and board to review the Permanent School Fund Benchmarks. The actions may include amendment to the Investment Procedures Manual.

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

PREVIOUS BOARD ACTION: At the June 2017 meeting, the board approved name changes to the Permanent School Fund Benchmarks.

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.

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.

PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.

PUBLIC COMMENTS: None.

ALTERNATIVES: None.

OTHER COMMENTS AND RELATED ISSUES: None.

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