Texas Agriculture Code 80.010 – Board Duties
(a) The board shall have an annual independent audit of the books, records of account, and minutes of proceedings maintained by the corporation prepared by an independent certified public accountant or a firm of independent certified public accountants. The audit must include information for each zone in which a suppression program has been conducted under this chapter. The audit shall be filed with the board, the commissioner, and the state auditor and be made available to the public by the corporation or the commissioner. The transactions of the corporation are subject to audit by the state auditor in accordance with Chapter 321, Government Code.
(b) Not later than the 45th day after the last day of the fiscal year, the board shall submit to the commissioner a report itemizing all income and expenditures and describing all activities of the corporation during the fiscal year.
Terms Used In Texas Agriculture Code 80.010
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
(c) The corporation shall provide fidelity bonds in amounts determined by the board for employees or agents who handle money for the corporation.
(d) The corporation and the board are state agencies for the following purposes only:
(1) exemption from taxation, including exemption from sales and use taxes and taxes under Chapter 152, Tax Code; and
(2) exemption from vehicle registration fees.
(e) Funds collected by the corporation are not state funds and are not required to be deposited in the state treasury. The corporation shall deposit all money collected under this chapter in a bank or other depository approved by the commissioner.
(f) The board shall collect data on the type and quantity of pesticides used in accordance with this chapter. The data shall be filed with the commissioner.
(g) All money collected under this chapter shall be used solely to finance programs approved by the commissioner as consistent with this chapter.
(h) The corporation is subject to the requirements of:
(1) the open meetings law, Chapter 551, Government Code; and
(2) the public information law, Chapter 552, Government Code.
(i) A board member may not vote on any matter in which the member has a direct pecuniary interest. A board member is subject to the same restrictions as a local public official under Chapter 171, Local Government Code.