Relating to the audit report exemption for certain general and special law districts.
Summary
SB1361 seeks to amend Section 49.198 of the Water Code to provide an audit report exemption for certain general and special law districts. This bill allows districts without long-term liabilities or gross receipts exceeding $250,000 to file simplified annual financial reports with the executive director rather than complying with more stringent auditing requirements. By raising the limit from $100,000 to $250,000, the bill aims to relieve smaller districts from the burdens of extensive financial reporting obligations, thus streamlining their operations.
The legislation's impact on state laws revolves around easing financial reporting requirements for districts that meet specific criteria. With these changes, eligible districts will not be required to undergo detailed audits as long as they maintain lower financial thresholds. This could potentially enhance efficiency and reduce administrative costs for smaller districts, enabling them to allocate more resources to essential public services.
Notably, the bill has generated discussions regarding fiscal responsibility and transparency in local governance. Supporters argue that the amendment simplifies processes for smaller districts, allowing them to function more effectively while maintaining essential financial oversight. Conversely, opponents may concern that easing auditing requirements could lead to a lack of oversight, which may increase the risk of mismanagement or misuse of funds.
If enacted, SB1361 could lead to changes in the oversight landscape for smaller districts and potentially influence future legislation regarding financial regulations on local government entities. The balance between maintaining sufficient oversight and reducing administrative burdens for smaller districts remains a critical point of contention.
Relating to agreements authorizing a limitation on taxable value of certain property to provide for the creation of jobs and the generation of state and local tax revenue; authorizing fees; authorizing penalties.
Relating to the authority of certain special districts and corporations created by certain special districts to exercise certain rights and powers outside district boundaries.
Relating to special education in public schools, including the special education allotment under the Foundation School Program, an education savings account program for certain children with disabilities, and a grant program to reimburse public schools for the cost of certain employer contributions for retirees of the Teacher Retirement System of Texas employed to teach or provide services related to special education.
Relating to local mental health authority and local behavioral health authority audits and mental and behavioral health reporting, services, and programs.
Relating to a reduction in the maximum compressed tax rate of a school district and additional state aid for certain school districts impacted by compression, an increase in the amount of certain exemptions from ad valorem taxation by a school district applicable to residence homesteads, an adjustment in the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in the exemption amounts, and the protection of school districts against the resulting loss in local revenue.
Relating to special education in public schools, including the special education allotment under the Foundation School Program, an education savings account program for certain children with disabilities, and a grant program to reimburse public schools for the cost of certain employer contributions for retirees of the Teacher Retirement System of Texas employed to teach special education.