Source: http://www.tea.state.tx.us/index4.aspx?id=2147501473&ekfxmen_noscript=1&ekfxmensel=e9f6cb525_620_2147483682
Timestamp: 2013-06-19 09:13:32
Document Index: 791389024

Matched Legal Cases: ['§5', '§42', '§43', '§105', '§105', '§42', '§5', '§5', '§5', '§5', '§5']

Texas Education Agency - July 2011 Committee on School Finance/Permanent School Fund
July 2011 Committee on School Finance/Permanent School Fund
WEDNESDAY July 20, 2011 10 a.m.COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND - Room 1-104 Members: Pat Hardy, Chair; Lawrence A. Allen, Jr.; David Bradley; Bob Craig; and Thomas Ratliff. A quorum of the State Board of Education may attend the committee meeting and discuss items on the committee agenda. A quorum of the Committee of Investment Advisors to the Permanent School Fund may attend the committee meeting and discuss items on the committee agenda.Public Testimony - Individual testimony will be taken at the time the related item comes up for committee discussion or action. The procedures for registering and taking public testimony at State Board of Education committee meetings and general board meetings are provided at http://www.tea.state.tx.us/index4.aspx?id=3958.1. Report by the State Auditor’s Office on the Certification of the Bond Guarantee Program for Fiscal Year Ending August 31, 2010This item provides an opportunity for representatives of the State Auditor’s Office (SAO) to make a presentation regarding the Bond Guarantee Program.COMMITTEE - DISCUSSION SBOE - NO ACTION2. Adoption of an Annual Report on the Status of the Bond Guarantee ProgramThis item provides an opportunity for the committee and board to adopt an annual report on the status of the Bond Guarantee Program. Statutory authority for this action is the Texas Constitution, Article VII, §5(f).COMMITTEE - ACTION SBOE - CONSENT3. Per Capita Apportionment Rate for the 2010-2011 School YearThe board is responsible for setting a per capita apportionment rate for each school year based on an estimate of the amount available for expenditures from the Available School Fund. The recommended revised rate for the 2010-2011 school year will be proposed at the July meeting of the Committee on School Finance/Permanent School Fund. Statutory authority for this action is the Texas Education Code, (TEC) §42.004 and §43.001(b).COMMITTEE - ACTION SBOE - ACTION4. Discussion of Proposed Amendment to 19 TAC Chapter 105, Foundation School Program, Subchapter B, Use of State Funds, §105.11, Maximum Allowable Indirect CostThis item presents proposed amendment to 19 TAC Chapter 105, Foundation School Program, Subchapter B, Use of State Funds, §105.11, Maximum Allowable Indirect Cost, for discussion. The proposed amendment would update the rule to reflect a change to the use of special program allotments for indirect or administrative expenses, in accordance with Senate Bill (SB) 1, 82nd Texas Legislature, First Called Session, 2011. The recommended indirect cost rate will be provided to the board prior to the July meeting. Statutory authority is the Texas Education Code (TEC), §§42.1541, 42.152(c), 42.151(h), 42.153(b), 42.154(a-1) and (c), and 42.156(b).COMMITTEE - DISCUSSION SBOE - NO ACTION5. Review of Permanent School Fund Securities Transactions and the Investment PortfolioInvestment staff will report on the transactions executed during the months of March, April and May 2011 in the investment portfolio of the Texas Permanent School Fund.COMMITTEE - DISCUSSION SBOE - NO ACTION6. Ratification of the Purchases and Sales of the Investment Portfolio of the Permanent School Fund for the Months of March, April and May 2011This item provides an opportunity for the committee and board to consider approval of the purchases and sales of securities executed in the portfolio of the Permanent School Fund for the months of March, April and May 2011. Statutory authority for this action is the Texas Constitution, Article VII, §5(f).COMMITTEE - ACTION SBOE - CONSENT7. First Quarter of 2011 Permanent School Fund Performance ReportThe performance measurement consultant to the Permanent School Fund, BNY Mellon Asset Servicing, will report on the investment performance during the first calendar quarter of 2011 and cumulative investment performance of the various portfolios of the Fund. This item will allow the committee to discuss in depth various issues related to portfolio management such as risk characteristics of portfolios and portfolio attributes.COMMITTEE - DISCUSSION SBOE - NO ACTION8. Approval of a Pool of Qualified Respondents to the RFQ for Real Estate Investment Managers for the Permanent School Fund and Approval of Investments in Real Estate FundsThis item provides an opportunity for the committee and board to approve a pool of qualified respondents to the RFQ for real estate investment managers for the Permanent School Fund and approval of investments in real estate funds. Statutory authority for this action is the Texas Constitution, Article VII, §5(f).COMMITTEE - ACTION SBOE - ACTION9. Discussion on Real Return Asset AllocationThis item provides an opportunity for the committee to receive a presentation on the real return asset allocation including implementation alternatives.COMMITTEE - DISCUSSION SBOE - NO ACTION10. Approval of Implementation and Investment in Inflation Linked Bonds as Part of the Real Return AllocationThis item provides an opportunity for the committee and board to approve implementation and investment in inflation linked bonds as part of the real return allocation. Statutory authority for this action is the Texas Constitution, Article VII, §5(f).COMMITTEE - ACTION SBOE - ACTION11. Proposed Amendments to the Investment Procedures Manual This item provides an opportunity for the committee and board to review and adopt proposed amendments to the Investment Procedures Manual. Statutory authority for this action is the Texas Constitution, Article VII, §5(f).COMMITTEE - ACTION SBOE - ACTION12. Presentation and Review of the Absolute Return Portfolios Managed for the Permanent School FundThis item provides an opportunity for the committee and board to receive a presentation and to review the absolute return portfolios managed for the Permanent School Fund. Consideration will be given to potential structural and allocation changes within the investments. Statutory authority for this action is the Texas Constitution, Article VII, §5(f).COMMITTEE - ACTION SBOE - ACTION13. Report of the Permanent School Fund Executive Administrator and Chief Investment OfficerThe Permanent School Fund executive administrator will report to the committee on matters relating to the management of the Permanent School Fund. The report will present information on historical and current status of Fund holdings, current and proposed investment policies and procedures, historical and current Fund performance and compliance. The administrator will update the board on the PSF distribution, the bond guarantee program, the status of requests for proposal or for qualifications and current contracts for services and other administrative activities undertaken on behalf of the board. The administrator will provide an analysis of current and future investment market conditions, focusing upon the impact on the holdings of the Permanent School Fund. The committee will direct investment staff regarding future agenda items.COMMITTEE - DISCUSSION SBOE - NO ACTION* If the Committee on School Finance/Permanent School Fund does not complete its agenda Wednesday, it will resume its meeting in Room 1-100 upon adjournment of the Committee of the Full Board on Thursday.NOTE: The chair may permit the board to take up and discuss any of the discussion items on a committee agenda, including hearing any invited presentations to a committee, based upon a recommendation from the committee or inability of the committee to complete its agenda on a preceding day. Page last modified on 7/11/2011 02:36:41 PM.