81R3613 CAE-D
By: Strama H.B. No. 1314
A BILL TO BE ENTITLED
AN ACT
relating to the availability of certain financial information on
Internet websites of school districts and open-enrollment charter
schools.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter D, Chapter 12, Education Code, is
amended by adding Section 12.1191 to read as follows:
Sec. 12.1191. POSTING OF FINANCIAL STATEMENTS. An
open-enrollment charter school shall comply with Section 44.0035.
SECTION 2. Subchapter A, Chapter 44, Education Code, is
amended by adding Section 44.0035 to read as follows:
Sec. 44.0035. POSTING OF DISTRICT FINANCIAL STATEMENTS.
(a) A school district shall post on the district's Internet website
the district's quarterly financial statements. The commissioner
shall adopt rules regarding the information that must be included
in the financial statements.
(b) In adopting rules under this section, the commissioner
shall require the financial statements to include:
(1) budgeted revenue summarized by source, including
local, state, and federal;
(2) expenditures, including the function code
assigned to the expenditure for the purpose of meeting state
reporting requirements;
(3) projected fund balance and net asset balance for
the fiscal year end compared with the actual dollar amount in each
fund or asset account; and
(4) a comparison of actual revenue and expenditures to
budgeted revenue and expenditures.
(c) The school district shall maintain each quarterly
statement required under Subsection (a) on the district's Internet
website until the second anniversary of the date of the statement.
SECTION 3. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2009.