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Permanent School Fund
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Permanent School Fund : ウィキペディア英語版
Permanent School Fund

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.〔(【引用サイトリンク】url=http://tea.texas.gov/Finance_and_Grants/Permanent_School_Fund/ )〕 Its assets include many publicly owned lands within Texas and various other investments; as of the end of fiscal 2014 (August 31), the fund had an endowment of $36.3 billion.〔 The fund is distinct from the Permanent University Fund, which funds most institutions in the University of Texas System and the Texas A&M University System, but no other public universities or schools in the state.
==Management==
The lands and other assets in the fund are managed by the Texas General Land Office (GLO). Money is added to the fund whenever lands under GLO management are sold or leased, or when mineral royalties are collected on natural resource extraction on these lands. Royalties on oil and gas extraction are the fund's major source of revenues.〔(【引用サイトリンク】url=http://www.glo.texas.gov/what-we-do/state-lands/permanent-school-fund/index.html )
The General Land Office then reinvests these revenues and manages the investments. The interest produced by the fund's investments is distributed to the state's public school districts (in proportion to their average daily student attendance), but the fund itself may not be spent; this provision ensures that the fund will continue to grow, and its revenues will be available for Texas public schools in perpetuity.〔

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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