Tex. Spec. Dist. Local Laws Code Section 3945.0315
Audit Exemption


(a)

The district may elect to complete an annual financial report in lieu of an annual audit under Section 375.096 (Specific Powers and Duties of Board)(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 (Audit Report Exemption), Water Code.
Added by Acts 2021, 87th Leg., R.S., Ch. 752 (H.B. 4612), Sec. 1, eff. September 1, 2021.

Source: Section 3945.0315 — Audit Exemption, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3945.­htm#3945.­0315 (accessed Jun. 5, 2024).

3945.0101
Definitions
3945.0102
Creation and Nature of District
3945.0103
Purpose
3945.0104
Findings of Benefit and Public Purpose
3945.0105
Initial District Territory
3945.0106
Eligibility for Inclusion in Special Zones
3945.0107
Applicability of Municipal Management Districts Law
3945.0108
Construction of Chapter
3945.0109
Conflicts of Law
3945.0201
Governing Body
3945.0202
Compensation
3945.0203
Temporary Directors
3945.0204
Disqualification of Directors
3945.0301
General Powers and Duties
3945.0302
Improvement Projects and Services
3945.0303
Recreational Facilities
3945.0304
Authority for Road Projects
3945.0305
Conveyance and Approval of Road Project
3945.0306
Nonprofit Corporation
3945.0307
Law Enforcement Services
3945.0308
Membership in Charitable Organizations
3945.0309
Economic Development Programs
3945.0310
Strategic Partnership Agreement
3945.0311
Regional Participation Agreement
3945.0312
Parking Facilities
3945.0313
Adding or Excluding Land
3945.0314
Disbursements and Transfers of Money
3945.0315
Audit Exemption
3945.0316
No Eminent Domain Power
3945.0401
Petition Required for Financing Services and Improvements with Assessments
3945.0402
Method of Notice for Hearing
3945.0403
Assessments
3945.0501
Tax Election Required
3945.0502
Operation and Maintenance Tax
3945.0503
Authority to Borrow Money and to Issue Bonds and Other Obligations
3945.0504
Bonds Secured by Revenue or Contract Payments
3945.0505
Bonds Secured by Ad Valorem Taxes
3945.0506
Consent of Municipality Required
3945.0601
Applicability of Certain Tax Code Provisions
3945.0602
Election
3945.0603
Sales and Use Tax Rate
3945.0604
Tax After Municipal Annexation
3945.0605
Notification of Rate Change
3945.0606
Use of Revenue
3945.0607
Abolition of Tax
3945.0901
Dissolution

Accessed:
Jun. 5, 2024

§ 3945.0315’s source at texas​.gov