June 2018 Committee on School Finance Permanent School Fund Item 6

Review of the Permanent School Fund Real Estate Annual Tactical Plan

June 15, 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 real estate annual tactical plan. The committee and board may take action based on this information.

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

PREVIOUS BOARD ACTION: At the June 2017 meeting, the board adopted revisions to the real estate investment policy and real estate annual tactical plan.

BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: The real estate annual tactical plan was approved at the June 2017 Board meeting.

FISCAL IMPACT: The distribution of the Permanent School Fund is projected to be $2.5 billion during the 2018-2019 biennium.

PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.

PUBLIC COMMENTS: None.

OTHER COMMENTS AND RELATED ISSUES: None.

Staff Member Responsible:

Holland Timmins, Executive Administrator
and Chief Investment Officer of the
Texas Permanent School Fund

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