Sec. 2101.012. UNIFORM ACCOUNTING AND REPORTING PROCEDURES. (a) The comptroller shall prescribe uniform accounting and financial reporting procedures that each state agency shall use in the preparation of the information requested under Section 2101.011. The procedures may include procedures that prescribe a uniform format for and a uniform method of reporting the financial information included in the annual financial report.
(b) The procedures must:
(1) comply with generally accepted accounting principles as established by the Governmental Accounting Standards Board and the American Institute of Certified Public Accountants or their successors; and
(2) include the requirements for compliance with the federal Single Audit Act of 1984 and Office of Management and Budget Circular A-133 and any subsequent changes or amendments that will fulfill the audit requirements for a statewide single audit.
(c) The accounts of the institutions shall be maintained and audited in accordance with the approved reporting system.
(d) The comptroller may adopt rules to implement this section.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 2001, 77th Leg., ch. 1158, Sec. 42, eff. Sept. 1, 2001.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 141 (S.B. 470), Sec. 1, eff. May 18, 2007.
Section: Previous 2101.001 2101.011 2101.0115 2101.012 2101.013 2101.014 2101.015 2101.031 2101.033 2101.034 2101.035 2101.036 2101.037 2101.0375 2101.0376 NextLast modified: September 28, 2016