Additionally, Kleen said PLETF will increase its distribution for public schools by $26.5 million for the fiscal year 2019. According to her, the increase was “due to strong investment performance.”
Arizona Voters ‘Deserve Transparency’ Regarding Proposition 123 Performance
Furthermore, the treasurer noted that voters made a difficult decision when they approved Proposition 123. According to her, “They deserve transparency when it comes to knowing how the ballot measure is performing against expectations.”
“We’re delivering the payments on time and growing the fund along the way,” Kleen added.
The PLETF’s value as of July 31 was $6 billion, the highest in the history of Arizona. The state’s Treasury Department manages all investments for the PLETF and is responsible for making monthly distributions to its beneficiaries. Public schools receive the largest distribution (approximately 93 percent).
