Report by the State Auditor’s Office on the Audit of the Permanent School Fund’s
Financial Statements for the Period Ending August 31, 2011
April 18, 2012
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: DISCUSSION
STATE BOARD OF EDUCATION: NO ACTION
SUMMARY: This item provides an opportunity for representatives of the State Auditor’s Office (SAO) to make a presentation regarding the audit of the financial statements of the Permanent School Fund for the period ending August 31, 2011 and material accounts of the Fund.
BOARD RESPONSE: Review and comment.
PREVIOUS BOARD ACTION: None.
FUTURE ACTION EXPECTED: None.
BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: None.
FISCAL IMPACT: The distribution of the Permanent School Fund is projected to be $2.0 billion during the 2012-2013 biennium.
PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.
PUBLIC COMMENTS: None.
OTHER COMMENTS AND RELATED ISSUES: None.
Commissioner of Education
Staff Member Responsible:
Holland Timmins, Executive Administrator
and Chief Investment Officer of the
Texas Permanent School Fund