Texas Water Code 20.020 – Fiscal Year; Annual Audit
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(a) The authority shall operate on a fiscal year beginning September 1.
(b) The state auditor may audit the authority’s books and accounts, based on a risk assessment performed by the state auditor and subject to the legislative audit committee’s approval of including the audit in the audit plan under Section 321.013, Government Code. The cost of an audit shall be paid by the authority.
Terms Used In Texas Water Code 20.020
- 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) A copy of the audit shall be filed with the governor and with both houses of the legislature on or before January 1 of each year, except if the audit is being made by the state auditor and is not available by January 1, it shall be filed as soon as it is available.