A Fiduciary Review of Key Governance & Investment Functions of the Texas Permanent School Fund
March 2003
Report Number 03-026
Overall Conclusion
The State Auditor's Office contracted with Cortex Applied Research, Inc. (Cortex), to perform a fiduciary review of the key governance and investment functions of the Permanent School Fund. The State Board of Education requested this review after a unanimous vote in January 2002. The State Auditor's Office, under the supervision of the Legislative Audit Committee, was chosen to manage this project to ensure independence and objectivity.
The Cortex report is published in two parts. Part A contains the div class="aboutText" of the report and responses from four State Board of Education members. Cortex's follow-up comments to the responses are also included. Part B contains the nine appendices to the report prepared by Cortex along with the Plan of Work from the consultant proposal request through which Cortex was hired.
Disclaimer
The findings and conclusions contained herein are the responsibility of Cortex Applied Research Inc. The Texas State Auditor's Office has not audited the contents of this report.
Contact the SAO about this report.
Download the Acrobat version of Part A of this report. (.pdf)
Download the Acrobat version of Part B of this report. (.pdf)
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