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A BILL TO BE ENTITLED
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AN ACT
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relating to the financial audit of public institutions of higher |
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education by the state auditor. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 321, Government Code, is amended by |
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adding Section 321.01365 to read as follows: |
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Sec. 321.01365. FINANCIAL AUDIT OF INSTITUTIONS OF HIGHER |
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EDUCATION. (a) In this section, "institution of higher education" |
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has the meaning assigned by Section 61.003, Education Code. |
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(b) Beginning September 1, 2022, the state auditor shall |
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conduct a financial audit of each institution of higher education |
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at least every five years. |
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(c) The state auditor, in consultation with the Texas Higher |
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Education Coordinating Board, shall determine when each |
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institution of higher education is audited under this section, |
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taking into account the resources of the state auditor and any other |
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factors the state auditor considers appropriate. The state auditor |
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shall consider the requirements of this section in devising an |
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audit plan under Section 321.013(c). |
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(d) An institution of higher education shall include on the |
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home page of the institution's Internet website a prominently |
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displayed link to the institution's most recent financial audit |
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under this section. |
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SECTION 2. This Act takes effect September 1, 2021. |