Texas Prepaid Higher Education Tuition Program Annual Report, 2011 Page: III
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TABLE OF CONTENTS
THIS REPORT CONSOLIDATES VARIOUS ANNUAL REPORTS INTO ONE DOCUMENT
PROGRAM SUMMARY ............. ................... ........................... .............. .......... 3
Cumulative Enrollment Data for the Texas Guaranteed Tuition Plan, 1996-2003 ........................................ 3
Cumulative Enrollment Data for the Texas Tuition Promise Fund 2008-2011 .............. ......................... 7
TEXAS PREPAID HIGHER EDUCATION TUITION BOARD, ANNUAL REPORT - YEAR ENDED AUGUST 31, 2011 ........... ........ 13
Independent Auditors'Report ...................... ........... ......... ......................... 19
Management's Discussion and Analysis ..................................... ........... ........... 23
Statement of Net Assets .................................. ..................... .............. 33
Statement of Activities ......................................................................... ............ 35
Combined Statement of Net Assets - Proprietary Funds ..................................................... ...........36
Combining Statement of Net Assets - Enterprise Funds ......................................................... 38
Combined Statement of Revenues, Expenses and Changes in Net Assets - Proprietary Funds ........................................ 40
Combining Statement of Revenues, Expenses and Changes in Net Assets - Enterprise Funds ........................................ 41
Combined Statement of Cash Flows - Proprietary Funds .................................. .............. 43
Combining Statement of Cash Flows - Enterprise Funds ...................................................................... 44
Statement of Fiduciary Net Assets - Private Purpose Trust Funds .............. ................... ................... 46
Statement of Changes in Fiduciary Net Assets - Private Purpose Trust Funds ......................... .................. 47
Combined Statement of Changes in Assets and Liabilities - Agency Funds .................... .................. ............. 48
Notes to the Financial Statements ............................................. ........... 51
Independent Auditors' Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based
on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards .............. ................ 71
TEXAS GUARANTEED TUITION PLAN, ACTUARY'S REPORT ON PROGRAM SOUNDNESS - AUGUST 31, 2011 .......................... 75
Section I - Executive Summary .................................................................... ........ .......... 79
Section II - Summary of Contract Data and Current Assets ............ . ......... ......... ............ 82
Section III - Plan Description ............................................................ 85
Section IV - Actuarial Methods and Assumptions ......... .. ......... ......... ................. 87
Section V - Soundness of the Plan as of August 31, 2011 ......... ................... ..................90
Section VI - Sensitivity Testing .................................. ............ ........... 95
Section VII - Changes in Surplus ........................ ............ ............................. 96
Appendix A - Active Contract Counts ........................ ............ ........................ 98
Appendix B - Matriculation Information .................................................. 100
TEXAS TUITION PROMISE FUND, ACTUARY'S REPORT ON PROGRAM SOUNDNESS - AUGUST 31, 2011.............. ............ 111
Section I - Executive Summary ........... ............ ................ .................. 115
Section II - Summary of Contract Data and Current Assets ................ .......................... ...... 119
Section III - Plan Description ........... ............ ................ .................... 122
Section IV - Actuarial Methods and Assumptions .............. . ........ ......... ............ 125
Section V - Soundness of the Plan as of August 31, 2011 .......... ................................................127
Section VI - SensitivityTesting ........................... ............ ............ 132
AppendixA - Active Contract Counts.................................. ................................ 133TEXAS GUARANTEED TUITION PLAN FUND INVESTMENT INFORMATION .................................. ............ 139
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Texas Prepaid Higher Education Tuition Program. Texas Prepaid Higher Education Tuition Program Annual Report, 2011, report, July 2012; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth303621/m1/5/: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting UNT Libraries Government Documents Department.