Tex.
Water Code Section 36.061
Policies
(a)
Subject to the law governing the district, the board shall adopt the following in writing:(1)
a code of ethics for district directors, officers, employees, and persons who are engaged in handling investments for the district;(2)
a policy relating to travel expenditures;(3)
a policy relating to district investments that ensures that:(A)
purchases and sales of investments are initiated by authorized individuals, conform to investment objectives and regulations, and are properly documented and approved; and(B)
periodic review is made of district investments to evaluate investment performance and security;(4)
policies and procedures for selection, monitoring, or review and evaluation of professional services; and(5)
policies that ensure a better use of management information, including:(A)
budgets for use in planning and controlling cost; and(B)
an audit or finance committee of the board.(b)
The state auditor may audit the records of any district if the state auditor determines that the audit is necessary.
Source:
Section 36.061 — Policies, https://statutes.capitol.texas.gov/Docs/WA/htm/WA.36.htm#36.061
(accessed Jun. 5, 2024).