Texas Senate Bill SB454

Texas 2013 - 83rd Regular

Caption

Relating to the authority of the Jackson County Navigation District to file an annual compilation or review report with the executive director of the Texas Commission on Environmental Quality in lieu of filing an annual audit report.

Impact

By modifying the requirements for financial reporting, SB454 aims to streamline the administrative process for the Jackson County Navigation District. This could potentially allow for increased focus on operational activities without the distraction of extensive audit requirements for minor financial discrepancies. It reflects a legislative effort to adjust the financial constraints placed on local governance bodies, particularly those with limited budgets and resources.

Summary

SB454 relates to the Jackson County Navigation District's authority concerning financial reporting. This bill allows the district to file a compilation or review report with the Texas Commission on Environmental Quality (TCEQ), instead of a full audited financial statement, under specific conditions. The provision applies in fiscal years where the district's net revenues exceed expenditures by $10,000 or less, thereby providing a degree of financial leniency for the district. The intent is to reduce the regulatory burden on smaller entities while still maintaining oversight.

Contention

While the bill appears to offer practical relief, it could raise concerns regarding transparency and accountability in financial matters. The shift from an audited financial statement to a less rigorous compilation or review could be seen by critics as a way to obscure financial practices or reduce accountability. Therefore, discussions around the bill may have highlighted the balance between easing regulatory burdens and ensuring public trust through rigorous financial oversight.