SECTION 1. Chapter 140,
Local Government Code, is amended by adding Section 140.008 to read as
follows:
Sec. 140.008. ANNUAL
FINANCIAL REPORT; DEBT INFORMATION. (a) In this section:
(1) "Debt
obligation" means an issued public security, as defined by Section
1201.002, Government Code.
(2) "Political
subdivision" means a county, municipality, school district, junior
college district, other special district, or other subdivision of state
government.
(b) Except as provided by
Subsections (c) and (d), a political subdivision shall prepare an
annual financial report that includes:
(1) financial information
for each fund subject to the authority of the governing body of the
political subdivision during the fiscal year, including:
(A) the total receipts of
the fund, itemized by source of revenue, including taxes, assessments,
service charges, grants of state money, gifts, or other general sources
from which funds are derived;
(B) the total
disburs.ements of the fund, itemized by the nature of the expenditure;
(C) the balance in the fund
as of the last day of the fiscal year; and
(D) any other information
required by law to be included by the political subdivision in an annual
financial report or comparable annual financial statement, exhibit, or
report;
(2) as of the last day of
the preceding fiscal year, debt obligation information for the political
subdivision that must state:
(A) the amount of all
authorized debt obligations;
(B) the principal of all
outstanding debt obligations;
(C) the principal of each
outstanding debt obligation;
(D) the combined principal
and interest required to pay all outstanding debt obligations on time and
in full;
(E) the combined principal
and interest required to pay each outstanding debt obligation on time and
in full;
(F) the amounts required by
Paragraphs (A)- (E) limited to authorized and outstanding debt obligations
secured by ad valorem taxation, expressed as a total amount and, if the political
subdivision is a municipality, county, or school district, as a per
capita amount; and
(G) the following for each
debt obligation:
(i) the issued and unissued
amount;
(ii) the spent and unspent
amount;
(iii) the maturity date; and
(iv) the stated purpose for
which the debt obligation was authorized; and
(3) any other information
that the political subdivision considers relevant or necessary to
explain the values required by Subdivisions (2) (A)- (F), including:
(A) an amount required by
Subdivision (2)(F) stated as a per capita amount if the political
subdivision is not required to provide the amount under that paragraph;
(B) an explanation of the
payment sources for the different types of debt; and
(C) a projected per capita
amount of an amount required by Subdivision (2)(F), as of the last day of
the maximum term of the most recent debt obligation issued by the political
subdivision.
(c) Instead of replicating
in the annual financial report information required by Subsection (b) that
is posted separately on the political subdivision's Internet website, or on
a website as authorized by Subsection (g)(2), the political subdivision may
provide in the report a direct link to, or a clear statement describing the
location of, the separately posted information.
(d) As an alternative to
preparing an annual financial report, a political subdivision may provide
to the comptroller the information described by Subsection (b) and any
other related information required by the comptroller in the form and
in the manner prescribed by the comptroller. The comptroller shall post the
information on the comptroller's Internet website in the format that the
comptroller determines is appropriate. The political subdivision shall
provide a link from the political subdivision's website, or a website
as authorized by Subsection (g) (2) , to the location on the comptroller's website
where the political subdivision's financial information may be viewed. The
comptroller shall adopt rules necessary to implement this subsection.
(e) Except as provided by
Subsection (d), the governing body of a political subdivision shall take
action to ensure that:
(1) the political
subdivision's annual financial report is made available for inspection
by any person and is posted continuously on the political subdivision's
Internet website, or on a website as authorized by Subsection (g)(2), until
the political subdivision posts the next annual financial report; and
(2) the contact information
for the main office of the political subdivision is continuously posted on
the website, including the physical address, the mailing address, the main
telephone number, and an e-mail address.
(f) Except as provided by
Subsection (g), a political subdivision shall maintain or cause to be
maintained an Internet website to comply with this section.
(g) This subsection does
not apply to a county or municipality with a population of more than
2,000 or a school district or a junior college district. If a political
subdivision did not maintain an Internet website or cause a website to
be maintained on January 1, 2013,
the political subdivision shall post the information required by this
section on:
(1) the political
subdivision's website, if the political subdivision chooses to maintain
the website or cause the website to be maintained; or
(2) a website in which the
political subdivision controls the content of the posting, including a
social media site, provided that the information is easily found by
searching the name of the political subdivision on the Internet.
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SECTION 1. Chapter 140,
Local Government Code, is amended by adding Section 140.008 to read as follows:
Sec. 140.008. ANNUAL
FINANCIAL REPORT; DEBT INFORMATION. (a) In this section:
(1) "Debt
obligation" means an issued public security, as defined by Section
1201.002, Government Code.
(2) "Political
subdivision" means a county, municipality, school district, junior
college district, other special district, or other subdivision of state
government.
(b) Except as provided by
Subsections (c) and (d), a political subdivision shall prepare an annual
financial report that includes:
(1) financial information
for each fund subject to the authority of the governing body of the
political subdivision during the fiscal year, including:
(A) the total receipts of
the fund, itemized by source of revenue, including taxes, assessments,
service charges, grants of state money, gifts, or other general sources
from which funds are derived;
(B) the total
disbursements of the fund, itemized by the nature of the expenditure;
(C) the balance in the
fund as of the last day of the fiscal year; and
(D) any other information
required by law to be included by the political subdivision in an annual
financial report or comparable annual financial statement, exhibit, or
report;
(2) as of the last day of
the preceding fiscal year, debt obligation information for the political
subdivision that must state:
(A) the amount of all
authorized debt obligations;
(B) the principal of all
outstanding debt obligations;
(C) the principal of each
outstanding debt obligation;
(D) the combined
principal and interest required to pay all outstanding debt obligations on
time and in full;
(E) the combined
principal and interest required to pay each outstanding debt obligation on
time and in full;
(F) the amounts required
by Paragraphs (A)-(E) limited to authorized and outstanding debt obligations
secured by ad valorem taxation, expressed as a total amount and, if the
political subdivision is a municipality, county, or school district, as a
per capita amount; and
(G) the following for
each debt obligation:
(i) the issued and
unissued amount;
(ii) the spent and
unspent amount;
(iii) the maturity date;
and
(iv) the stated purpose
for which the debt obligation was authorized; and
(3) any other information
that the political subdivision considers relevant or necessary to explain
the values required by Subdivisions (2)(A)-(F), including:
(A) an amount required by
Subdivision (2)(F) stated as a per capita amount if the political
subdivision is not required to provide the amount under that paragraph;
(B) an explanation of the
payment sources for the different types of debt; and
(C) a projected per
capita amount of an amount required by Subdivision (2)(F), as of the last
day of the maximum term of the most recent debt obligation issued by the
political subdivision.
(c) Instead of
replicating in the annual financial report information required by
Subsection (b) that is posted separately on the political subdivision's
Internet website, or on a website as authorized by Subsection (g)(2), the
political subdivision may provide in the report a direct link to, or a
clear statement describing the location of, the separately posted
information.
(d) As an alternative to
preparing an annual financial report, a political subdivision may provide
to the comptroller the information described by Subsection (b) and any
other related information required by the comptroller in the form and in
the manner prescribed by the comptroller. The comptroller shall post the
information on the comptroller's Internet website in the format that the
comptroller determines is appropriate. The political subdivision shall
provide a link from the political subdivision's website, or a website as
authorized by Subsection (g)(2), to the location on the comptroller's
website where the political subdivision's financial information may be viewed.
The comptroller shall adopt rules necessary to implement this subsection.
(e) Except as provided by
Subsection (d), the governing body of a political subdivision shall take
action to ensure that:
(1) the political
subdivision's annual financial report is made available for inspection by
any person and is posted continuously on the political subdivision's
Internet website, or on a website as authorized by Subsection (g)(2), until
the political subdivision posts the next annual financial report; and
(2) the contact
information for the main office of the political subdivision is
continuously posted on the website, including the physical address, the
mailing address, the main telephone number, and an e-mail address.
(f) Except as provided by
Subsection (g), a political subdivision shall maintain or cause to be
maintained an Internet website to comply with this section.
(g) This subsection does
not apply to a county or municipality with a population of more than 2,000
or a school district or a junior college district. If a political
subdivision did not maintain an Internet website or cause a website to be
maintained on January 1, 2015, the
political subdivision shall post the information required by this section
on:
(1) the political
subdivision's website, if the political subdivision chooses to maintain the
website or cause the website to be maintained; or
(2) a website in which
the political subdivision controls the content of the posting, including a
social media site, provided that the information is easily found by
searching the name of the political subdivision on the Internet.
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No
equivalent provision.
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SECTION 3. Section 140.005,
Local Government Code, is transferred to Subchapter D, Chapter 12,
Education Code, redesignated as Section 12.1191, Education Code, and
amended to read as follows:
Sec. 12.1191 [140.005].
ANNUAL FINANCIAL STATEMENT OF CHARTER SCHOOL [, ROAD, OR OTHER
DISTRICT]. (a) The governing body of an [a school
district,] open-enrollment charter school [, junior college
district, or a district or authority organized under Article III, Section
52, or Article XVI, Section 59, of the Texas Constitution,] shall
prepare an annual financial statement showing for each fund subject to the
authority of the governing body during the fiscal year:
(1) the total receipts of
the fund, itemized by source of revenue, including taxes, assessments,
service charges, grants of state money, gifts, or other general sources
from which funds are derived;
(2) the total disbursements
of the fund, itemized by the nature of the expenditure; and
(3) the balance in the fund
at the close of the fiscal year.
(b) The governing body of
an open-enrollment charter school shall take action to ensure that the school's
annual financial statement is made available in the manner provided by
Chapter 552, Government Code, and is posted continuously on the school's
Internet website.
(c) An open-enrollment
charter school shall maintain or cause to be maintained an Internet website
to comply with this section.
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