Discussion of Permanent School Fund Rebalancing Procedures
July 15, 2009
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: DISCUSSION
STATE BOARD OF EDUCATION: NO ACTION
SUMMARY: This item provides an opportunity for the committee to discuss the Permanent School Fund rebalancing procedures.
BOARD RESPONSE: None.
PREVIOUS BOARD ACTION: At the July 2007 meeting, the board approved amendments to Section E of the Investment Procedures Manual that included adjustments to the asset class rebalancing.
FUTURE ACTION EXPECTED: None.
BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: None.
FISCAL IMPACT: The distribution of the Permanent School Fund is projected to be $1.4
billion during the 2008-2009 biennium.
PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.
PUBLIC COMMENTS: None.
ALTERNATIVES: None.
OTHER COMMENTS AND RELATED ISSUES: None.
Respectfully submitted,
Robert Scott
Commissioner of Education
Staff Member Responsible:
Holland Timmins, Executive Administrator
and Chief Investment Officer of the
Texas Permanent School Fund