81R1479 CAE-D
By: Hartnett H.B. No. 1539
A BILL TO BE ENTITLED
AN ACT
relating to the availability of certain school district financial
information on districts' Internet websites.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter A, Chapter 44, Education Code, is
amended by adding Sections 44.0035 and 44.0051 to read as follows:
Sec. 44.0035. POSTING OF DISTRICT GENERAL LEDGER. (a) A
school district shall post on the district's Internet website the
district's general ledger statement containing all asset,
liability, capital, income, and expense accounts.
(b) The district shall:
(1) post an updated general ledger statement at least
once each calendar quarter; and
(2) maintain each general ledger quarterly statement
until the third anniversary of the date of that statement.
(c) The general ledger must be prepared according to
generally accepted accounting principles.
Sec. 44.0051. POSTING OF ADOPTED BUDGET. (a) On final
approval of the budget by the board of trustees, the school district
shall post on the district's Internet website a copy of the budget
adopted by the board of trustees. The district's Internet website
must prominently display the electronic link to the adopted budget.
(b) The district shall maintain the adopted budget on the
district's Internet website until the third anniversary of the date
the budget was adopted.
SECTION 2. 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.