Scholarship trust posts strong returns; oil and gas income noted as volatile

Trust representatives presented a report to the Corsicana ISD Board of Trustees on Oct. 22 showing the scholarship trust’s portfolio value and recent performance.

A representative from the trust (Speaker 7) reported the portfolio’s market value at the end of September was about $22,817,000 and noted $550,000 in scholarship payouts during the period. The representative said the total account return for the period was 10.72%, outperforming a composite index return of 9.18%, and highlighted outperformance across several asset classes, including a 15.45% return in the large‑cap allocation.

Hagan Barlow, identified in the meeting as a trust officer with Community National, reviewed the oil and gas portion of the portfolio and said mineral income totaled about $223,000 for the trailing 12 months and about $150,000 year‑to‑date. Barlow said mineral income is volatile and that the amount received does not necessarily track spot oil prices: "There is no correlation between the price of oil and the amount of income you receive," Barlow said, noting production and other factors influence receipts.

The trust report included five‑year performance detail (portfolio growth from roughly $16.76 million on 9/30/2020 to about $22.88 million) and a listing of holdings for trustee review. Trustees were asked to review holdings pages and did not request an amended investment policy on the record.

The board received the report; the transcript does not show a formal action to change investment strategy.