(a) All officers required by law to report annually or biennially to the legislature or governor shall close their accounts at the end of the fiscal year.
(b) As soon as practicable after the end of the fiscal year, the officers shall prepare and compile their respective reports.

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Terms Used In Texas Government Code 316.072

  • 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