By Turner of Coleman H.B. No. 3348 76R7316 CAG-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to accounting for the receipt and expenditure of 1-3 educational and general funds of an institution of higher 1-4 education. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. Section 61.065, Education Code, is amended by 1-7 adding Subsections (c) and (d) to read as follows: 1-8 (c) The comptroller and the board shall jointly prescribe 1-9 and periodically update a uniform system of financial accounting 1-10 of all educational and general funds received by an institution of 1-11 higher education, including tuition, laboratory fees, student 1-12 teaching fees, organized activity fees, proceeds from the sale of 1-13 educational and general equipment, and indirect cost recovery fees 1-14 received by an institution. The system may include a requirement 1-15 that: 1-16 (1) any portion of educational and general funds 1-17 received by an institution be deposited in the treasury; 1-18 (2) all educational and general funds be accounted for 1-19 in a manner that allows the state auditor to accurately and 1-20 efficiently audit an institution's educational and general funds; 1-21 and 1-22 (3) each institution reconcile any estimated 1-23 educational and general funds calculated during the previous 1-24 biennial budget process to the actual amount of educational and 2-1 general funds that the institution received. 2-2 (d) Each institution shall report its reconciliation under 2-3 Subsection (c)(3) to the comptroller and the Legislative Budget 2-4 Board not later than 60 days after the last day of each fiscal 2-5 year. If the reconciliation for a year indicates that the actual 2-6 educational and general funds received during the fiscal year 2-7 exceeded the estimate, an amount of the institution's general 2-8 revenue appropriations equal to that difference may not be expended 2-9 by the institution in the following fiscal year without the prior 2-10 approval of the Legislative Budget Board. 2-11 SECTION 2. The comptroller of public accounts and the Texas 2-12 Higher Education Coordinating Board shall adopt a uniform system of 2-13 accounting described by Section 61.065(c), Education Code, as added 2-14 by this Act, not later than September 1, 1999. 2-15 SECTION 3. The importance of this legislation and the 2-16 crowded condition of the calendars in both houses create an 2-17 emergency and an imperative public necessity that the 2-18 constitutional rule requiring bills to be read on three several 2-19 days in each house be suspended, and this rule is hereby suspended, 2-20 and that this Act take effect and be in force from and after its 2-21 passage, and it is so enacted.