| 1 | 1 | | 81R3613 CAE-D |
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| 2 | 2 | | By: Strama H.B. No. 1314 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the availability of certain financial information on |
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| 8 | 8 | | Internet websites of school districts and open-enrollment charter |
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| 9 | 9 | | schools. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Subchapter D, Chapter 12, Education Code, is |
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| 12 | 12 | | amended by adding Section 12.1191 to read as follows: |
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| 13 | 13 | | Sec. 12.1191. POSTING OF FINANCIAL STATEMENTS. An |
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| 14 | 14 | | open-enrollment charter school shall comply with Section 44.0035. |
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| 15 | 15 | | SECTION 2. Subchapter A, Chapter 44, Education Code, is |
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| 16 | 16 | | amended by adding Section 44.0035 to read as follows: |
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| 17 | 17 | | Sec. 44.0035. POSTING OF DISTRICT FINANCIAL STATEMENTS. |
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| 18 | 18 | | (a) A school district shall post on the district's Internet website |
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| 19 | 19 | | the district's quarterly financial statements. The commissioner |
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| 20 | 20 | | shall adopt rules regarding the information that must be included |
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| 21 | 21 | | in the financial statements. |
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| 22 | 22 | | (b) In adopting rules under this section, the commissioner |
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| 23 | 23 | | shall require the financial statements to include: |
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| 24 | 24 | | (1) budgeted revenue summarized by source, including |
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| 25 | 25 | | local, state, and federal; |
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| 26 | 26 | | (2) expenditures, including the function code |
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| 27 | 27 | | assigned to the expenditure for the purpose of meeting state |
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| 28 | 28 | | reporting requirements; |
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| 29 | 29 | | (3) projected fund balance and net asset balance for |
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| 30 | 30 | | the fiscal year end compared with the actual dollar amount in each |
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| 31 | 31 | | fund or asset account; and |
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| 32 | 32 | | (4) a comparison of actual revenue and expenditures to |
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| 33 | 33 | | budgeted revenue and expenditures. |
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| 34 | 34 | | (c) The school district shall maintain each quarterly |
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| 35 | 35 | | statement required under Subsection (a) on the district's Internet |
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| 36 | 36 | | website until the second anniversary of the date of the statement. |
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| 37 | 37 | | SECTION 3. This Act takes effect immediately if it receives |
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| 38 | 38 | | a vote of two-thirds of all the members elected to each house, as |
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| 39 | 39 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 40 | 40 | | Act does not receive the vote necessary for immediate effect, this |
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| 41 | 41 | | Act takes effect September 1, 2009. |
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