88R4313 DRS-D
 
  By: Schatzline H.B. No. 1829
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the publication of annual financial statements by a
  municipality.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  The heading to Chapter 103, Local Government
  Code, is amended to read as follows:
  CHAPTER 103. AUDIT AND DISCLOSURE OF MUNICIPAL FINANCES
         SECTION 2.  Chapter 103, Local Government Code, is amended
  by adding Section 103.005 to read as follows:
         Sec. 103.005.  ANNUAL FINANCIAL STATEMENT OF MUNICIPALITY.
  (a)  The governing body of a municipality shall prepare an annual
  financial statement showing, for each fund subject to the authority
  of the governing body during the municipality's fiscal year:
               (1)  the total receipts of the fund, itemized by source
  of revenue, including taxes, assessments, service charges, grants
  of state money, gifts, or other general sources from which funds are
  derived;
               (2)  the total disbursements of the fund, itemized by
  the nature of the expenditure; and
               (3)  the balance in the fund at the close of the fiscal
  year.
         (b)  The governing body of a municipality shall submit the
  financial statement prepared under Subsection (a) to the
  comptroller not later than two months after the end of the
  municipality's fiscal year. The comptroller shall post the
  financial statement on the comptroller's Internet website on a web
  page that is easily located by searching the name of the
  municipality on the Internet.  The comptroller shall adopt rules
  necessary to implement this subsection.
         SECTION 3.  This Act takes effect September 1, 2023.