Texas Education Code - Section 44.008. Annual Audit; Report
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§ 44.008. ANNUAL AUDIT; REPORT. (a) The board of school
trustees of each school district shall have its school district
fiscal accounts audited annually at district expense by a certified
or public accountant holding a permit from the Texas State Board of
Public Accountancy. The audit must be completed following the
close of each fiscal year.
(b) The independent audit must meet at least the minimum
requirements and be in the format prescribed by the State Board of
Education, subject to review and comment by the state auditor. The
audit shall include an audit of the accuracy of the fiscal
information provided by the district through the Public Education
Information Management System (PEIMS).
(c) Each treasurer receiving or having control of any school
fund of any school district shall keep a full and separate itemized
account with each of the different classes of its school funds
coming into the treasurer's hands. The treasurer's records of the
district's itemized accounts and records shall be made available to
audit.
(d) A copy of the annual audit report, approved by the board
of trustees, shall be filed by the district with the agency not
later than the 150th day after the end of the fiscal year for which
the audit was made. If the board of trustees declines or refuses to
approve its auditor's report, it shall nevertheless file with the
agency a copy of the audit report with its statement detailing
reasons for failure to approve the report.
(e) The audit reports shall be reviewed by the agency, and
the commissioner shall notify the board of trustees of objections,
violations of sound accounting practices or law and regulation
requirements, or of recommendations concerning the audit reports
that the commissioner wants to make. If the audit report reflects
that penal laws have been violated, the commissioner shall notify
the appropriate county or district attorney and the attorney
general. The commissioner shall have access to all vouchers,
receipts, district fiscal and financial records, and other school
records as the commissioner considers necessary and appropriate for
the review, analysis, and passing on audit reports.
Added by Acts 1995, 74th Leg., ch. 260, § 1, eff. May 30, 1995.
Amended by Acts 2001, 77th Leg., ch. 914, § 2, eff. Sept. 1,
2001.
Section: 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 44.0312 44.0315
Last modified: August 10, 2007
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