By: Fallon S.B. No. 629

(In the Senate - Filed February 4, 2019; March 1, 2019, read first time and referred to Committee on Education; May 1, 2019, reported adversely, with favorable Committee Substitute by the following vote: Yeas 10, Nays 1; May 1, 2019, sent to printer.) Click here to see the committee vote

COMMITTEE SUBSTITUTE FOR S.B. No. 629 By: Fallon

A BILL TO BE ENTITLED

AN ACT

relating to the availability of certain school district or open-enrollment charter school financial information on certain districts' or schools' Internet websites.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Chapter 44, Education Code, is amended by adding Subchapter D to read as follows:

SUBCHAPTER D. FINANCIAL DISCLOSURE

Sec. 44.101. APPLICABILITY. This subchapter applies only to:

(1) a school district that is ranked among the 50 highest in student enrollment, as determined by the commissioner; and

(2) an open-enrollment charter school that is ranked among the 10 highest in student enrollment, as determined by the commissioner based on the aggregated student enrollment of all campuses under the school's charter.

Sec. 44.102. FINANCIAL DISCLOSURE. (a) A school district or open-enrollment charter school shall maintain on the district's or school's Internet website an electronic database of district or school finances. The database must include, if applicable:

(1) for the immediately preceding fiscal year:

(A) total expenditures as a dollar amount and a dollar amount per student in average daily attendance;

(B) total revenue as a dollar amount and a dollar amount per student in average daily attendance;

(C) total revenue from property taxes as a dollar amount and a dollar amount per student in average daily attendance;

(D) the total number of full-time equivalent positions for the district or school; and

(E) for a district subject to Chapter 41, any amount expended by the district to purchase attendance credits in an amount sufficient for the district to reduce the district's wealth per student to the equalized wealth level;

(2) a graphical representation of the district's or school's operating and debt service funds, including:

(A) the total budgeted allocation and per student in average daily attendance allocation for the current school year, separated by each applicable assigned:

(i) function code; and

(ii) object code determined by the commissioner as a major object code; and

(B) the actual revenues and expenditures for each of the four preceding fiscal years, separated by each applicable assigned:

(i) function code; and

(ii) object code determined by the commissioner as a major object code;

(3) the district's or school's annual financial report for the preceding five fiscal years;

(4) in a searchable electronic format:

(A) the transaction register for each district or school checking account, including for each check written from a district or school checking account:

(i) the transaction amount;

(ii) the name of the payee;

(iii) the date the check was issued; and

(iv) a statement of the purpose of the expenditure for which the check was written; and

(B) a governing board financial report, updated at least quarterly, comparing revenues and expenditures with:

(i) the adopted and amended budget; and

(ii) revenues and expenditures from the preceding fiscal year;

(5) a visualization chart depicting district or school financial data trends for the preceding five fiscal years that shows for each fiscal year:

(A) total expenditures per student in average daily attendance;

(B) total revenue per student in average daily attendance; and

(C) for a district, the district property tax rate expressed in dollars per $100 valuation;

(6) contact information for the district or school and members of the governing body of the district or school; and

(7) a link to a web page maintained by the district or school that provides instructions for submitting a request for information under Chapter 552, Government Code.

(b) The school district's or open-enrollment charter school's annual financial report for the current fiscal year must be posted not later than the first anniversary of the end of the fiscal year.

(c) A school district or open-enrollment charter school shall:

(1) update the electronic checking account transaction register at least once each month, not later than the 30th day after the closing date of the most recent monthly statement for the checking account;

(2) maintain each transaction or listing in the electronic checking account transaction register on the district's or school's Internet website until at least the third anniversary of the date of the transaction or listing; and

(3) for each fiscal year that transactions and listings are included in the electronic checking account transaction register, group together the transactions and listings by fiscal year.

SECTION 2. This Act takes effect September 1, 2020.

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