September 2, 2020 Consent Agenda

CONSENT AGENDA
STATE BOARD OF EDUCATION
September 2, 2020

1. Ratification of the Purchases and Sales of the Investment Portfolio of the Permanent School Fund for the Months of May and June 2020

This item provides an opportunity for the committee and board to consider approval of the purchases and sales of investments executed in the portfolio of the Permanent School Fund for the months of May and June 2020.  Statutory authority for this action is the Texas Constitution, Article VII, §2 and §5, and 19 Texas Administrative Code (TAC) Chapter 33.

2. Determination as to Whether Transfers May be Made from the Permanent School Fund to the Available School Fund

This item provides an opportunity for the committee and board to review the requirement in Article VII, §5(a)(2) that the total amount distributed over ten years cannot exceed the total return on all investment assets of the Permanent School Fund (PSF) over the same ten-year period. The board will determine whether transfers may be made from the PSF to the Available School Fund (ASF) in fiscal year 2021. Statutory authority for this action is the Texas Constitution, Article VII, §2 and §5, and 19 Texas Administrative Code (TAC) Chapter 33.

3. Proposed Amendments to the Investment Procedures Manual

This item provides an opportunity for the committee and board to review and adopt proposed amendments to the Investment Procedures Manual. Statutory authority for this action is the Texas Constitution, Article VII, §2 and §5, and 19 Texas Administrative Code (TAC) Chapter 33.

4. Review of the Permanent School Fund Real Estate Policy and Tactical Plan

This item provides an opportunity for the committee and board to review the real estate policy and annual tactical plan.   The committee and board will also receive an update on the real estate program.  The committee may take an action based on this information. Statutory authority for this action is the  Texas Constitution, Article VII, §2 and §5; and 19 Texas Administrative Code (TAC) Chapter 33.

5. Authorization to Issue a Request for Proposals for Emerging Manager Investment Management in the Private Equity and Real Estate Asset Classes for the Permanent School Fund

This item provides the opportunity for the committee and board to approve the issuance of a request for proposals for emerging manager investment management in the private equity and real estate asset classes for the Permanent School Fund. Statutory authority for this action is the Texas Constitution, Article VII, §2 and §5, and 19 Texas Administrative Code (TAC) Chapter 33.

6. Recommendation for Appointments to the Randolph Field Independent School District Board of Trustees

This item provides an opportunity for board consideration of one appointment to the board of trustees of the Randolph Field Independent School District. The appointment is necessary because of a resignation. Statutory authority for this action is the Texas Education Code (TEC), §11.352; and Texas Administrative Code (TAC) §61.2.

7. Recommendation for Appointment to the Boys Ranch School Independent School District Board of Trustees

This item provides an opportunity for board consideration of one reappointment to the board of trustees of the Boys Ranch Independent School District. The reappointment is necessary because the current term of office is expiring. Statutory authority for this action is the Texas Education Code (TEC), §11.352; and 19 Texas Administrative Code (TAC) §61.2.