Texas Senate Bill SB373

Texas 2011 - 82nd Regular

• Introduced: 1/19/11
• Out of Senate Committee: 4/14/11
• Voted on by Senate: 4/28/11
• Refer: 2/2/11
• Out of House Committee: 5/13/11
• Report Pass: 4/14/11
• Voted on by House: 5/19/11
• Engrossed: 4/28/11
• Governor Action: 6/17/11
• Refer: 4/29/11
• Report Pass: 5/12/11
• Enrolled: 5/20/11
• Passed: 6/17/11

Caption

Relating to the office of county treasurer.

Impact

The proposed changes are likely to impact current practices greatly by mandating that county treasurers execute surety bonds not just for themselves but also for any assistants or deputies employed. This ensures that there is financial coverage in case of negligence or misconduct. Moreover, the option for counties to self-insure against potential losses provides flexibility but may raise concerns about adequate financial protection for the management of public funds. Overall, these provisions aim to reduce accountability gaps within local government finance management.

Summary

SB373 aims to reorganize and update provisions related to the office of the county treasurer in Texas. The bill emphasizes the importance of proper management of public funds and enhances the accountability of the county treasurer by detailing requirements for financial reporting and disbursement of funds. Notably, the bill introduces stricter regulations regarding the collection and deposit of money, requiring county officers to deposit funds in a timely manner and ensuring that all money collected is accounted for in a specific depository account.

Contention

Discussions surrounding SB373 revealed a concern among local officials regarding the potential for increased administrative burden and costs associated with compliance. Some officials expressed that the enhanced financial scrutiny may create complexities in currently established procedures, particularly in smaller counties where resources are limited. However, supporters of the bill argue that the benefits of increased transparency and accountability in handling public funds far outweigh any potential challenges in implementation.