Sec. 56.810. FISCAL YEAR; BUDGET. (a) A consolidated district shall adopt a fiscal year. The fiscal year may be provided for in the consolidation agreement or adopted by the board of the consolidated district after the consolidation election.
(b) The fiscal year of each district that has been consolidated ends on the last day of the month in which the consolidation election was held. Audits of each district that was consolidated shall be prepared up to and through the last day of the month in which the consolidation election was held. The first audit of the consolidated district shall be for the period beginning on the first day of the month after the consolidation election and ending on the last day of the fiscal year adopted for the consolidated district.
(c) A budget shall be adopted for the period beginning on the first day of the month after the consolidation election and continuing through the end of the fiscal year adopted for the consolidated district.
Added by Acts 1999, 76th Leg., ch. 222, Sec. 12, eff. Sept. 1, 1999.
Section: Previous 56.751 56.752 56.753 56.754 56.755 56.756 56.801 56.802 56.803 56.804 56.805 56.806 56.807 56.808 56.809Last modified: September 28, 2016