Board Reports & Plans
The following information will help you learn more about the Florida Prepaid College Board, including the most current annual report, Comprehensive Investment Plans, Operating Budget and more.
Statement of Organization and Operation
The Agency (1) The Florida Prepaid College Board is the agency head and administers the Stanley G. Tate Florida Prepaid College Program (also known as the Florida Prepaid College Plan) and the Florida College Savings Program (also known as the Florida 529 Savings Plan), pursuant to the provisions of Part IV, Chapter 1009, Florida Statutes. The Board exercises the powers granted to it pursuant to s. 1009.971(1) and (3) – (6), Florida Statutes. Read our full Statement of Organization and Operations.
Florida Statutes
Read about the Florida Statutes that govern the operations of the Florida Prepaid College Board.
Florida Prepaid College Board Meetings
Board meetings are held quarterly. Dates are below and, if available, link to the meeting agenda.
Annual Reports
The Florida Prepaid College Board Annual Report contains information, statistics, the Chairman’s Message, the financial statements and the actuarial report on the Florida Prepaid College Plan and Florida 529 Savings Plan.
2023 Florida Prepaid College Board Annual Report
Financial Statements
The Florida Prepaid College Board annually publishes Financial Statements in accordance with generally accepted accounting principles. These include the audited financial statements, note disclosures, and required supplementary information, presenting the Board’s financial condition at fiscal year-end and results of operations during the fiscal year.
Comprehensive Investment Plan (CIP)
There is a separate Comprehensive Investment Plan describing the investment goals, strategies, asset allocation and performance benchmarks for both the Florida Prepaid College Plan and the Florida 529 Savings Plan. The Comprehensive Investment Plan for both the Florida Prepaid College Plan and the Florida 529 Savings Plan were developed by the Florida Prepaid College Board and have been approved by the Trustees of Florida’s State Board of Administration (The Governor, Attorney General and Chief Financial Officer).
View the CIP for the Florida Prepaid College Plan
View the CIP for the Florida 529 Savings Plan
Operating budget for Fiscal Year 2024-2025
In order to perform its responsibilities in the most effective and efficient manner, the Board contracts with various private companies to provide professional support services for both programs, including actuarial services, investment management services, records administration services, financial services and legal services. Approximately 91% of the proposed operating budget for 2024-2025 is used to fund these services.
| Florida Prepaid College Board | |
|---|---|
| 2023-2024 Budget Summary by Category | |
| Salaries and Benefits | $4,143,810 |
| Other Personal Services | $47,752,713 |
| Expenses | $355,424 |
| Other Capital Outlay (Non-Recurring) | $8,141,100 |
| Total | $60,393,047 |
Section 529
The term “529 plan” describes a type of tax-advantaged college plan authorized by Section 529 of the Internal Revenue Code. The money you contribute to these plans grows tax-deferred, and when the student (beneficiary) is ready for college, withdrawals for qualified college expenses are exempt from federal income tax. Even though many 529 plans are marketed and sold by large financial services companies, by federal law, a 529 plan must be sponsored by a state. There are two types of 529 plans: prepaid plans and savings/investment plans. The savings/investment type, like the Florida 529 Savings Plan, is the one often referred to by financial planners and the media as a “529 plan.” The Florida Prepaid College Plan and the Florida 529 Savings Plan are both 529 plans sponsored by the State of Florida and managed by the Florida Prepaid College Board. For more information regarding 529 plans, please visit the IRS website.
Florida Administrative Rules
As an agency of the state of Florida, the Florida Prepaid College Board is subject to Florida Administrative Rules and all applicable requirements.
View Florida 529 Savings Plan Administrative Rules
View Florida Prepaid College Plan Administrative Rules
Board Notices
The Florida Prepaid College Board hereby gives notice of the following:
2023-2024 Open Enrollment Notice
2023-2024 Florida Prepaid College Plan Interest Rates
2023-2024 Florida Prepaid College Plan Pricing
2024 Florida ABLE Disclosure Required pursuant to Section 20.058 Florida Statutes
2024 Foundation Disclosure Required pursuant to Section 20.058 Florida Statutes
RFQ and ITN Information
RFQ 24-01: Cybersecurity Services
This Request for Quote (RFQ) has been issued by the Board, pursuant to Section 287.057, Florida Statutes, to obtain written offers for services (Responses) from qualified firms (Respondents) to provide cybersecurity services. All questions related to this RFQ must be directed to the RFQ Administrator by email at: [email protected].
Request to Quote RFQ 24-01 Document Amendment
Request for Quote RFQ 24-01 Appendix A – Written Response Packet Amendment
Request for Quote RFQ 24-01 Appendix B – Request for Clarification
Request for Quote RFQ 24-01 Board Response To Written Requests for Clarification
