Texas Education Code 12.1168 – Financial Report of Certain Schools
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(a) In this section, “related party” has the meaning adopted by commissioner rule under § 12.1166.
(b) A financial report filed under § 44.008 by an open-enrollment charter school must separately disclose:
(1) all financial transactions between the open-enrollment charter school and any related party, separately stating the principal, interest, and lease payments; and
(2) the total compensation and benefits provided by the school and any related party for each member of the governing body and each officer and administrator of the school and the related party.
Terms Used In Texas Education Code 12.1168
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Rule: includes regulation. See Texas Government Code 311.005
(c) The commissioner may adopt rules to implement this section.