| Issue Date: | |
|---|---|
| Revised Date: | 2019-09-01 |
Legal Cites
- Education Code sec. 48.266, sec. 48.273
- Government Code sec. 466.355
Origin:
1947
Purpose
To receive, from the General Revenue Fund (0001), the percentage allocation of occupation and other taxes to provide for a Foundation School Program. The approved grants to public schools in support of the program are paid from this account.
Also receives transfer of revenue from GR Account -- Lottery (5025) by the 15th of each month based on net revenue computations by the Lottery Commission.
| Classification | Group 04: Pledged Funds [?] |
|---|---|
| Depository Interest | Credited to General Revenue Fund (0001) |
| Disposition of Balance | None. All funds are apportioned to schools. |
| Appropriation Technique | General Appropriations Act |
Administering Agencies
Note
Amended by H.B. 72, 68th Leg., 2nd C.S.
In 1996, the Funds Review Advisory Committee recommended the Foundation School Fund be retained as an account in General Revenue.
Legal cites changed from 42.253 to 48.266 and 42.259 to 48.273.
USAS Values
| USAS Title | GR ACCOUNT-FOUNDATION SCHOOL |
|---|---|
| Consolidated Fund | 0001 |
| State Fund Group | 04 - PLEDGED FUNDS |
| USAS Status | A |
Created by bond resolution requirements which specify the maintenance of separate funds to account for the bond program.