GOVT 2306 Chapter Notes - Chapter 11: Texas Higher Education Coordinating Board, Permanent School Fund, Fuel Tax
20 Oct 2016
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Document Summary
General revenue fund - the state"s primary operating fund. Consists of two parts: nondedicated general revenue. State"s primary operating fund and is the place where most state taxes and fees flow. Expenditures may be made directly from nondedicated funds and may be transferred to special funds or accounts for allocation: general revenue-dedicated accounts. Permanent school fund - provides monies for primary and secondary schools. Constitution stipulated that certain lands and sales from these lands would constitute the psf. Managed by the state board of education. Distributes money based on attendance and guarantees bonds issued by local school boards. Economic stabilization fund - constitutional amendment in 1988 to provide funds for the state during times of financial stress, aka: Rainy day fund: esf can be appropriated with 3/5 vote of legislature, higher education fund - established by constitutional amendment for universities who do not have access to puf monies. Advisory committee provides input to texas higher education.
