Section 23.104 - Requirements of the Council(a) The Council shall have an annual independent audit of the books, records of account and minutes of proceedings maintained by the Council prepared by an independent certified public accountant or firm of independent certified public accountants. The audit shall be filed with the Council and the Commissioner and shall be made available to the public upon request to the Council or the Commissioner. The state auditor or the Department may examine any work papers from the independent audit or may audit the transactions of the Council if the state auditor or the Department's internal auditor determines that an additional audit is necessary.(b) Not later than the 30th day after the last day of the fiscal year the Council shall submit to the Commissioner a report itemizing all income and expenditures and describing all activities of the Council during the preceding fiscal year. The annual report shall include, at a minimum: (1) a balance sheet of assets and liabilities;(2) an itemization of income/expenditures and;(3) a statement of Council activities carried out in the year covered by the report.(c) The Department may allow for late filings of the report required by subsection (b) of this section for good cause.(d) The Council shall provide fidelity bonds in amounts determined by the Council for employees or agents who handle funds for the Council.(e) The Council shall submit its annual budget to the Commissioner for approval, prior to any expenditure of funds. The Commissioner shall act on the Council's budget submission within 45 days of receipt of the submission.4 Tex. Admin. Code § 23.104
Adopted by Texas Register, Volume 42, Number 43, October 27, 2017, TexReg 6003, eff. 11/5/2017; Amended by Texas Register, Volume 48, Number 15, April 14, 2023, TexReg 1955, eff. 4/19/2023