Public Funds Investment Act Training for School Districts

The Public Funds Investment Act, Chapter 2256 of the Texas Government Code, requires the treasurer, chief financial officer (CFO), and investment officer of a school district to attend 10 hours of training within 12 months of taking office or assuming duties and eight hours of renewal training every two years thereafter.

Exemption from Renewal Training 

Government Code, §2256.008(a-1), exempts the treasurer, CFO, and investment officer of a school district from the requirement to attend eight hours of renewal investment training every two years if the district:

• does not invest district funds, or
• only deposits those funds in:
  • interest-bearing accounts, or
  • authorized certificates of deposit.

Note: Depositing district funds into a pool such as Lonestar, Texpool, TexStar, etc. would not allow one to claim the exemption from eight hours of renewal investment training.

Submission Requirement

To claim an exemption from the eight hours of renewal investment training requirements, a school district must annually submit an affidavit identifying the exemption criteria that apply to the district. The district can choose to submit one of the two affidavit forms provided below. One version must be signed before a notary public and the other is signed as an unsworn declaration under Texas Civil Practice and Remedies Code Section 132.001.

• Renewal Investment Training Exception Affidavit (Signed before a notary public) (PDF, 144 KB)
• Renewal Investment Training Exception Affidavit (Unsworn declaration) (PDF, 97 KB)

An exact due date for the submission of the Renewal Investment Training Exception Affidavit is not established. However, the affidavit should be submitted to the TEA at approximately the same time as the district's annual financial report is due to TEA on November 27 or January 28, depending on the fiscal year-end date. 

Upload a PDF copy of the affidavit through the AUDIT application in the Texas Education Agency Login (TEAL). The affidavit should be uploaded under the section titled "Signed Pages of Annual Financial and Compliance Report (PDF)" and named using the six-digit county district number, followed by ITEA (for Investment Training Exception Affidavit), and ending with a single digit for the fiscal year. Example: 999999ITEA9