Texas Permanent School Fund (TPSF) - Sovereign Wealth Fund, United States (2024)

FAQs

How much money is in the Texas permanent school fund? ›

Since that time, the PSF has grown to comprise over $53 billion in assets and will distribute nearly $2.2 billion annually to Texas K-12 schools. In 2021 the 87th Texas Legislature established the Texas Permanent School Fund Corporation (Texas PSF) as a stand-alone special-purpose governmental corporation.

The Texas Permanent School Fund is a sovereign wealth fund which serves to provide revenues for funding of public primary and secondary education in the US state of Texas.

Additionally, an Austin-American Statesman analysis of public education funding in recent years found that, “adjusted to 2024 dollars, per-student funding from state and local sources is down by 12.9% — $10,387 this year [2023-24] compared with $11,919 per student in 2020.” Rather than growing the state share, which ...

The 15-member elected State Board of Education is charged by the state constitution with the management of the Permanent School Fund, overseeing the work of a professional investment team. The School Land Board manages land and mineral leases dedicated to the Permanent School Fund.

Last Tuesday, the Texas Board of Education's chairman, Aaron Kinsey, announced that BlackRock's “destructive approach” toward the state's large oil and gas industry prompted the PSF divestment. Texas is among several Republican-controlled states that bar asset managers and banks they believe boycott energy companies.

Robert Borden, CFA

Robert Borden serves as Texas PSF Corporation's Chief Executive Officer and Chief Investment Officer, directing all investment and operations activities.

Benefitting public education for 177 years and counting

The Permanent School Fund (PSF) was created by the Texas Constitution in 1845 as a perpetual fund to support Texas public schools, and in 1854 the Texas Legislature seeded the fund with $2 million.

Most funding comes from local property taxes, which are collected by school districts, and state funding. This document explains state and local funding of Texas public schools as it is administered through the state's Foundation School Program (FSP).

Property taxes are the main source of funding for public schools in Texas.

Funding and Appropriations

The state of Texas appropriates the majority of funds to state agencies and institutions of higher education through a biennial General Appropriations Act.

Does Texas give money to private schools? ›

Proposed ESA Program

$8,000-$10,000 offered per child—about 50,000-60,000 kids will be funded across the state. Only accredited private schools may participate; no unaccredited schools are allowed to participate. Must have religious liberty protections and private school autonomy language.

According to the list, the richest school district in Texas is Friendswood Independent School District. This district is found in Galveston County. The average household income for families in this school district is $167,090 per year. The graduation rate is 97%.

Charter schools are projected to receive $8.8 billion in public funds over the 2022-2023 biennium. Over the past 10 years, charter school enrollment has increased an average of 11% each year. A single charter chain — IDEA Public Schools — has received $3 billion in state and federal funding since its founding in 2000.

Most funding comes from local property taxes, which are collected by school districts, and state funding.