By: Creighton S.B. No. 1605
A BILL TO BE ENTITLED
AN ACT
relating to the availability of certain school district financial
information on certain districts' Internet websites.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 44, Education Code, is amended by adding
Subchapter D to read as follows:
SUBCHAPTER D. FINANCIAL DISCLOSURE
Sec. 44.101. APPLICABILITY. This subchapter applies only
to a school district that is ranked among the 50 highest in student
enrollment, as determined by the commissioner.
Sec. 44.102. FINANCIAL DISCLOSURE. (a) A school district
shall maintain on the district's Internet website an electronic
database of district finances. The database must include:
(1) for the immediately preceding fiscal year:
(A) total expenditures as a dollar amount and a
dollar amount per student in average daily attendance;
(B) total revenue as a dollar amount and a dollar
amount per student in average daily attendance;
(C) total revenue from property taxes as a dollar
amount and a dollar amount per student in average daily attendance;
and
(D) the total number of full-time equivalent
positions for the district;
(2) a graphical representation of the district's
operating and debt service funds, including:
(A) the total budgeted allocation and per student
in average daily attendance allocation by function and major object
for the current school year; and
(B) the actual revenues and expenditures by
function and major object for each of the four preceding fiscal
years;
(3) the district's annual financial report for the
preceding five fiscal years;
(4) in a searchable electronic format:
(A) the transaction register for each district
checking account, including for each check written from a district
checking account:
(i) the transaction amount;
(ii) the name of the payee;
(iii) the date the check was issued; and
(iv) a statement of the purpose of the
expenditure for which the check was written; and
(B) a board financial report, updated at least
quarterly, comparing revenues and expenditures with:
(i) the adopted and amended budget; and
(ii) revenues and expenditures from the
preceding fiscal year;
(5) a visualization chart depicting district
financial data trends for the preceding five fiscal years that
shows for each fiscal year:
(A) total expenditures per student in average
daily attendance;
(B) total revenue per student in average daily
attendance; and
(C) the district property tax rate expressed in
dollars per $100 valuation;
(6) contact information for the district and members
of the board of trustees of the district; and
(7) a link to a web page maintained by the district
that provides instructions for submitting a request for information
under Chapter 552, Government Code.
(b) The district's annual financial report for the current
fiscal year must be posted not later than the first anniversary of
the end of the fiscal year.
(c) A school district shall:
(1) update the electronic checking account
transaction register at least once each month, not later than the
30th day after the closing date of the most recent monthly statement
for the checking account;
(2) maintain each transaction or listing in the
electronic checking account transaction register on the district's
Internet website until at least the third anniversary of the date of
the transaction or listing; and
(3) for each fiscal year that transactions and
listings are included in the electronic checking account
transaction register, group together the transactions and listings
by fiscal year.
SECTION 2. This Act takes effect September 1, 2018.