BILL ANALYSIS

Senate Research Center                                                                                                       H.B. 978

80R4445 PAM-D                                                                        By: Smith, Wayne (Jackson, Mike)

Education

4/14/2007

Engrossed

AUTHOR'S / SPONSOR'S STATEMENT OF INTENT

Under Section 44.008 (Annual Audit; Report), Education Code, school districts are required to file independent financial audit reports with the Texas Education Agency within 150 days of the ends of the district's fiscal year.  However, this contradicts the requirements under Section 140.006 (Publication of Annual Financial Statement by School, Road, or Other District), Local Government Code.

H.B. 978 removes conflicting statutory language to reflect recent changes made to the Education Code concerning the publication date of annual financial statements.  The bill also changes a reference to the Central Education Agency to reflect the agency's current name.

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Section 140.006(d), Local Government Code, to require a school district's financial statement prepared under Section 140.005 (Annual Financial Statement of School, Road, or Other District) to be published not later than the 150th day, rather than the 120th day, after the date the fiscal year ends and in accordance with the accounting method required by the Texas Education Agency, rather than the Central Education Agency.

SECTION 2.  Effective date: upon passage or September 1, 2007.