Tribpedia: Permanent School Fund

Tribpedia

The purpose of the Permanent School Fund is to provide money for Texas public schools from sources other than tax revenue. The fund pays for textbooks for Texas schoolchildren and guarantees bonds issued by local school districts.

The Permanent School Fund is managed by the State Board of Education

The Dallas Morning News reported in September 2009 that a split ...

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Texas Secretary of State Hope Andrade announcing the launch of the 2010 census in Texas
Texas Secretary of State Hope Andrade announcing the launch of the 2010 census in Texas

This Will Be on the Test

Texas Weekly

This week, Secretary of State Hope Andrade conducted a lottery that determined the order of the 10 new proposals on the November ballot. Each amendment already won approval from two-thirds of the House and Senate and now needs a nod from a majority of the voters. Here's the rundown... 

Students at Austin Discovery School work on a project at the Texas charter school on Tuesday, February 15th, 2011.
Students at Austin Discovery School work on a project at the Texas charter school on Tuesday, February 15th, 2011.

Texas Charter Schools Eye Permanent School Fund

Charter schools want access to the state's Permanent School Fund, which guarantees bond issues for traditional public schools, allowing them to secure advantageous interest rates. Not everyone is on board — including the traditional public schools.

State Board of Education Considers Renting to Charters

Hoping to tackle the long-standing challenge of financing charter school facilities, the State Board of Education is considering taking on a novel and controversial role: landlord. SBOE member David Bradley, R-Beaumont, wants to use $100 million from the $23 billion Permanent School Fund to buy properties and then lease them back to charter schools, which have historically struggled with capital costs. Critics say the elected board can't possibly fulfill the mandate of the Fund — to invest for maximum return — while at the same time cutting charters a good deal. 

Permanent School Fund Rebounds With Market

The state’s permanent school fund, which spins off money for textbooks and the like each year, has recaptured billions of dollars after a frightening downward spiral this spring.

Trouble is, the increase in the fund may produce no increase at all in education spending. The real beneficiaries of the fund often are the state legislature and its priorities outside education.