Tex. Spec. Dist. Local Laws Code Section 3967.0315
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 2019, 86th Leg., R.S., Ch. 1254 (H.B. 4644), Sec. 1, eff. June 14, 2019.

Source: Section 3967.0315 — Audit Exemption, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3967.­htm#3967.­0315 (accessed Mar. 23, 2024).

3967.0101
Definitions
3967.0102
Creation and Nature of District
3967.0103
Purpose
3967.0104
Findings of Benefit and Public Purpose
3967.0105
District Territory
3967.0106
Eligibility for Inclusion in Special Zones
3967.0107
Applicability of Municipal Management Districts Law
3967.0108
Liberal Construction of Chapter
3967.0109
Conflicts of Law
3967.0201
Governing Body
3967.0202
Compensation
3967.0203
Temporary Directors
3967.0204
Disqualification of Directors
3967.0301
General Powers and Duties
3967.0302
Improvement Projects and Services
3967.0303
Recreational Facilities
3967.0304
Authority for Road Projects
3967.0305
Conveyance and Approval of Road Project
3967.0306
Nonprofit Corporation
3967.0307
Law Enforcement Services
3967.0308
Membership in Charitable Organizations
3967.0309
Economic Development
3967.0310
Strategic Partnership Agreement
3967.0311
Regional Participation Agreement
3967.0312
Parking Facilities
3967.0313
Adding or Excluding Land
3967.0314
Disbursements and Transfers of Money
3967.0315
Audit Exemption
3967.0316
No Eminent Domain Power
3967.0401
Petition Required for Financing Services and Improvements with Assessments
3967.0402
Method of Notice for Hearing
3967.0403
Assessments
3967.0501
Tax Election Required
3967.0502
Operation and Maintenance Tax
3967.0503
Authority to Borrow Money and to Issue Bonds and Other Obligations
3967.0504
Bonds Secured by Revenue or Contract Payments
3967.0505
Bonds Secured by Ad Valorem Taxes
3967.0506
Consent of Municipality Required
3967.0601
Applicability of Certain Tax Code Provisions
3967.0602
Election
3967.0603
Sales and Use Tax Rate
3967.0604
Tax After Municipal Annexation
3967.0605
Notification of Rate Change
3967.0606
Use of Revenue
3967.0607
Abolition of Tax
3967.0701
Definition
3967.0702
Applicability of Certain Tax Code Provisions
3967.0703
Tax Authorized
3967.0704
Tax Rate
3967.0705
Information
3967.0706
Use of Revenue
3967.0707
Abolition of Tax
3967.0901
Dissolution

Accessed:
Mar. 23, 2024

§ 3967.0315’s source at texas​.gov