Show Arguments For The Permanent School Fund (the “PSF’) is a constitutionally protected endowment fund which can never be invaded or appropriated The annual yield or interest income earned by the PSF flows into the Uniform School Fund where it is available for appropriation to support our schools At present there is no means for private donations to be made to the PSF and held in perpetuity for the benefit of Utah's schools Proposition 5 allows the State Treasurer to establish mechanisms and programs to accept private donations to the PSF Once received these funds are constitutionally protected and will act as a continuing gift to the school children of Utah forever an endowment that keeps giving in perpetuity It's the right thing to do! We should have adopted this idea decades ago Melvin K Ilrown Mouse Utah ol Representatives Speaker Rebuttal To Arguments For Proposition No 5 (No opposing argument was submitted) Many slates have a constitutionally protected endowment fund The problem with Utah's PSF is that it is just too small Earlier this year the balance in the PSF stood at slightly over $100 million compared to $132 billion for Texas $785 million for Oklahoma and $834 million in our neighboring state of Wyoming Utahns should focus their attention on the growth of the PSF Once Proposition 5 has been approved we should set a goal to sec the fund grow to $250 million and even $500 million over time The larger this endowment grows the more it will earn to keep our taxes low and support the education of Utah Ir children Arguments Against The more the PSF yields in interest earnings the greater the amounts available for class sic reduction and other important educational improvements The greater the annual investment yield to the Uniform Sclxxil Fund the less dependence on the General Fund to make up the difference At present approximately 4891 of the Mate’s budget goes for the support of public education (No argument seas submitted) With the approval of Proposition 5 Utah's parents and grandparents could be encouraged to name the PSF as a beneficiary when they prepare their wills or trusts Utah's trustees and estate lawyers could be encouraged to educate clients as to how easy it can he to name the PSF as a 59f or 1091 beneficiary in their wills or trusts At present this option is not available to them All Rebuttal To Arguments Against Proposition No 5 (No opposing argument was submitted) of us have benefited from a good education in Utah's public and higher education system Now we need to return something to that system by a generous bequest or family gift To help establish the tradition of growth of the Permanent Schixil Fund uc need to vote "YES" on Proposition 5 A vote for Proposition 5 dixis not increase your taxes ft simply provides fix a means to receive and voluntary contributions that are made protect any 36 |