April 2025 Committee on School Finance/Permanent School Fund
THURSDAY
April 10, 2025
9:00 a.m.
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND - Room 2.034 (Barbara Jordan Building)
Members: Tom Maynard, chair; Marisa Perez-Diaz, vice chair; Keven Ellis; Will Hickman; and Aaron Kinsey. 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 public testimony at State Board of Education committee meetings and general board meetings are provided in SBOE Operating Rules.
Texas Government Code, §2001.039, establishes a four-year rule review cycle for all state agency rules, including State Board of Education (SBOE) rules. This item presents the adoption of the review of 19 Texas Administrative Code (TAC) Chapter 109, Budgeting, Accounting, and Auditing, Subchapter A, Budgeting, Accounting, Financial Reporting, and Auditing for School Districts, Subchapter B, Texas Education Agency Audit Functions, Subchapter C, Adoptions by Reference, and Subchapter D, Uniform Bank Bid or Request for Proposal and Depository Contract. The rules being reviewed provide requirements for school districts relating to budgeting, accounting, financial reporting, and auditing; Texas Education Agency (TEA) financial review functions; adoption by reference of the Financial Accountability System Resource Guide (FASRG); and the bank bid and proposal forms and the depository contract and surety bond forms. Statutory authority for the rule review is TGC, §2001.039. Statutory authority for 19 TAC Chapter 109 is Texas Education Code (TEC), §§7.102(c)(32), 44.001, 44.002, 44.007, and 44.008, for Subchapter A; TEC, §§7.102(c)(32), 44.001, 44.007, 44.008, 44.010, and 48.104, for Subchapter B; TEC, §§7.055(b)(32), (36), and (37); 7.102(c)(32); 44.001; 44.007(a)-(d); and 44.008(b), for Subchapter C; and TEC, §§7.102(c)(34), 45.206, and 45.208, for Subchapter D.
COMMITTEE - ACTION
SBOE - ACTION
This item provides an opportunity for representatives of the State Auditor’s Office (SAO) to make a presentation related to the certification of the Bond Guarantee Program for the fiscal year ending August 31, 2024. Statutory authority is the Texas Constitution, Article VII, §2 and §5; and Texas Education Code (TEC), §45.053(b).
COMMITTEE – DISCUSSION
SBOE – NO ACTION
3. Adoption of an Annual Report on the Status of the Bond Guarantee Program
This item provides an opportunity for the committee and board to adopt an annual report on the status of the Bond Guarantee Program. Statutory authority is the Texas Constitution, Article VII, §2 and §5; and Texas Education Code (TEC), §45.053(c).
COMMITTEE - ACTION
SBOE - CONSENT
4. Review the Processes for Consideration of Board Member Nominees for State Board Positions
This item provides an opportunity for the committee and board to review the processes for consideration of board member nominees for state board positions. Statutory authority is the Texas Constitution, Article VII, §2 and §5; Natural Resources Code (NRC), §32.012; and Texas Government Code (TGC), §825.003.
COMMITTEE - ACTION
SBOE - CONSENT