Texas Education Code - Section 44.007. Accounting System; Report
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§ 44.007. ACCOUNTING SYSTEM; REPORT. (a) A standard
school fiscal accounting system must be adopted and installed by
the board of trustees of each school district. The accounting
system must conform with generally accepted accounting principles.
(b) The accounting system must meet at least the minimum
requirements prescribed by the commissioner, subject to review and
comment by the state auditor.
(c) A record must be kept of all revenues realized and of all
expenditures made during the fiscal year for which a budget is
adopted. A report of the revenues and expenditures for the
preceding fiscal year shall be filed with the agency on or before
the date set by the State Board of Education.
(d) The State Board of Education shall require each
district, as part of the report required by this section, to include
management, cost accounting, and financial information in a format
prescribed by the board and in a manner sufficient to enable the
board to monitor the funding process and determine educational
system costs by district, campus, and program.
Text of subsec. (e) effective until September 1, 2007
(e) Not later than January 1, 2007, the commissioner shall
submit a report to the legislature evaluating the benefits of
providing school districts with standardized accounting software
that complies with the requirements of this section and any other
appropriate statutes. The report:
(1) shall consider:
(A) any savings and costs accrued to school
districts resulting from the use of the software provided,
including any savings accrued from eliminating the payment of
programming costs in response to changes in statute or
administrative rules;
(B) any accountability benefits achieved by
providing the information collected by the software regularly to
the agency and the public; and
(C) any personnel and other resources required
for the agency to continuously review the information collected in
order to alert members of school district boards of trustees and
superintendents regarding areas of potential waste or fraud; and
(2) may consider software accessed by alternative
methods, including web-based methods or network-based methods,
that the commissioner considers most economical for districts of
different sizes.
Text of subsec. (f) effective until September 1, 2007
(f) This subsection and Subsection (e) expire September 1,
2007.
Added by Acts 1995, 74th Leg., ch. 260, § 1, eff. May 30, 1995.
Amended by Acts 2006, 79th Leg., 3rd C.S., ch. 5, § 2.08, eff.
May 26, 2006.
Section: 44.002 44.003 44.004 44.0041 44.005 44.006 44.0061 44.007 44.0071 44.008 44.009 44.010 44.011 44.031 44.0311
Last modified: August 10, 2007
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