June 24, 2025 Committee of the Full Board Item 4

Texas Permanent School Fund Corporation Report/Update

June 24, 2025

COMMITTEE OF THE FULL BOARD: DISCUSSION
STATE BOARD OF EDUCATION: NO ACTION

SUMMARY: This item provides an opportunity for the Permanent School Fund (PSF) Corporation's management to present a report on the Fund to members of the Committee of the Full Board (COFB) and to take questions from the COFB.

STATUTORY AUTHORITY: Texas Constitution, Article VII, §2 and §5, Texas Education Code (TEC) Chapter 43; and 19 Texas Administrative Code (TAC) Chapter 33, Subchapters A and B.

The Texas Constitution, Article VII, §2 and §5 establish the permanent school fund, the assets that comprise the permanent school fund, the bond guarantee program, the available school fund, and authorize the State Board of Education (SBOE) to manage and invest the permanent school fund in accordance with the prudent person standard.

19 TAC Chapter 33 codifies administrative rules that provide a statement of investment objectives, policies, and guidelines of the Texas Permanent School Fund and Bond Guarantee Program as adopted by the SBOE.

Staff Members Responsible: 
Robert Borden, Chief Executive Officer and Chief Investment Officer, Texas Permanent School Fund Corporation
John McGeady, Director of External Relations, Texas Permanent School Fund Corporation