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STANDARD ACCOUNTING AND REPORTING

The Superintendent shall ensure that the School maintains a standard state governmental financial accounting system that conforms with generally accepted accounting principles.  The uniform system for budgeting, accounting, and financial reporting shall reflect full implementation of modified and full accrual accounting, as appropriate.  This system shall meet the minimum reporting standards prescribed by the Comptroller of Public Accounts.  Gov’t Code 2101.011(b)

REPORT OF REVENUES AND EXPENDITURES

An annual report of the revenues and expenditures for the preceding fiscal year shall be provided to the Board by the Superintendent and the Chief Financial Officer.  The report shall include financial information that will enable the TSBVI Board to review and monitor the budgetary process and determine educational and operational costs by program and division.

ANNUAL FINANCIAL REPORT

The Superintendent shall ensure that, not later than November 20 of each year, an annual financial report regarding the School’s use of appropriated money during the preceding fiscal year is submitted to:

  1. the governor;
  2. the comptroller;
  3. the Legislative Reference Library;
  4. the state auditor; and
  5. the Legislative Budget Board

Gov’t Code 2101.011(b)

The annual financial report shall include all provisions as set forth by the Legislature and prepared in accordance with the reporting requirements established by the Comptroller of Public Accounts.

Gov’t Code 2101.011(c)

Adopted:         11/7/80

Amended:       11/13/81, 3/25/94, 8/26/94, 11/15/96, 9/26/97, 1/24/02, 6/3/15, 6/1/18

Reviewed:       3/21/03