Discussion on the Status of the RFP for Performance Measurement Services for the Permanent School Fund
March 9, 2010
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: DISCUSSION
STATE BOARD OF EDUCATION: NO ACTION
SUMMARY: This item provides an opportunity for the committee to review the status of the RFP for Performance Measurement Services for the Permanent School Fund.
BOARD RESPONSE: Based on the information presented, the committee may direct staff as appropriate.
PREVIOUS BOARD ACTION: At the May 2009 meeting, the board approved the RFP for Performance Measurement Services.
FUTURE ACTION EXPECTED: None.
BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: At the February 20, 2009 School Finance/Permanent School Fund committee meeting, the committee reviewed the Request for Proposals for Global Custody and Securities Lending Services for the Permanent School Fund. The committee directed the staff to bring the revised RFP with all services bundled and a separate RFP for performance measurement services to the March meeting. At the March 2009 meeting, the board approved the issuance of a request for proposals for performance measurement services for the Permanent School Fund.
FISCAL IMPACT: The income of the Permanent School Fund is projected to be $60.7 million during fiscal year 2010.
PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.
PUBLIC COMMENTS: None.
ALTERNATIVES: No alternative actions are proposed regarding this item.
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