Tex. Spec. Dist. Local Laws Code § 3901.209 · Subchapter D. GENERAL FINANCIAL PROVISIONS; ASSESSMENTS
AUDIT EXEMPTION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The district may elect to complete an annual financial report in lieu of an annual audit under Section 375.096(a)(6), Local Government Code, if:
(1) the district had no bonds or other long-term (more than one year) liabilities outstanding during the fiscal period;
(2) the district did not have gross receipts from operations, loans, taxes, assessments, or contributions in excess of $250,000 during the fiscal period; and
(3) the district's cash and temporary investments were not in excess of $250,000 during the fiscal period.
(b) Each annual financial report prepared in accordance with this section must be open to public inspection and accompanied by an affidavit signed by a duly authorized representative of the district attesting to the accuracy and authenticity of the financial report.
(c) The annual financial report and affidavit shall be substantially similar in form to the annual financial report and affidavit forms prescribed by the executive director of the Texas Commission on Environmental Quality under Section 49.198, Water Code.
Notes and commentary — not statutory text
History
Added by Acts 2015, 84th Leg., R.S., Ch. 897 (S.B. 1362), Sec. 15, eff. June 18, 2015.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3901.htm
- Text hash
- sha256 6568308131c14e189999351df00499fca48ebc8b8dd0dcfbbb7c5f46ec9a33ee
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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