Texas Local Government Code 336.206 – Accounts and Records; Audits
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(a) A district shall keep a complete system of accounts.
(b) The district shall have an annual audit of the district affairs performed by an independent certified public accountant.
Terms Used In Texas Local Government Code 336.206
- 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.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
- Trustee: A person or institution holding and administering property in trust.
(c) A signed copy of the audit report shall be delivered to each trustee not later than the 120th day after the closing date of each fiscal year.
(d) A copy of the audit report shall be kept on file at the district office and shall be made available for inspection by any interested person during regular business hours.