Texas Education Code 54.777 – Information Required for Annual Report
(a) The board shall maintain the following information for the purpose of inclusion in the annual report under § 54.642:
(1) the fiscal transactions of the board and the plan manager under this subchapter during the preceding fiscal year;
(2) the market and book value of the fund as of the end of the preceding fiscal year;
(3) the asset allocations of the fund expressed in percentages of stocks, fixed income, cash, or other financial investments;
(4) the rate of return on the investment of the fund’s assets during the preceding fiscal year; and
(5) an actuarial valuation of the assets and liabilities of the program, including the extent to which the program’s liabilities are unfunded.
(b) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 1312, Sec. 99(4), eff. September 1, 2013.
Terms Used In Texas Education Code 54.777
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) Repealed by Acts 2013, 83rd Leg., R.S., Ch. 1312, Sec. 99(4), eff. September 1, 2013.