Texas Special District Local Laws Code 1028.155 – Fiscal Year
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(a) The district operates on a fiscal year established by the board.
(b) The fiscal year may not be changed:
(1) during a period that revenue bonds of the district are outstanding; or
(2) more than once in a 24-month period.
Terms Used In Texas Special District Local Laws Code 1028.155
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Year: means 12 consecutive months. See Texas Government Code 311.005