87R1185 KSD-D
By: Cortez H.B. No. 294
A BILL TO BE ENTITLED
AN ACT
relating to the financial audit of public institutions of higher
education by the state auditor.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 321, Government Code, is amended by
adding Section 321.01365 to read as follows:
Sec. 321.01365. FINANCIAL AUDIT OF INSTITUTIONS OF HIGHER
EDUCATION. (a) In this section, "institution of higher education"
has the meaning assigned by Section 61.003, Education Code.
(b) Beginning September 1, 2022, the state auditor shall
conduct a financial audit of each institution of higher education
at least every five years.
(c) The state auditor, in consultation with the Texas Higher
Education Coordinating Board, shall determine when each
institution of higher education is audited under this section,
taking into account the resources of the state auditor and any other
factors the state auditor considers appropriate. The state auditor
shall consider the requirements of this section in devising an
audit plan under Section 321.013(c).
(d) An institution of higher education shall include on the
home page of the institution's Internet website a prominently
displayed link to the institution's most recent financial audit
under this section.
SECTION 2. This Act takes effect September 1, 2021.