Issue Date:
Revised Date: 2019-09-01

Legal Citations

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

Financial Activity

To view this GR account's current revenue and expenditure activity by agency or comptroller object code, visit the following links:

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.