Texas § 36.153 ANNUAL AUDIT.

Texas Statutes

§ 36.153 — ANNUAL AUDIT.

Texas § 36.153

Code WAWater Code

This text of Texas § 36.153 (ANNUAL AUDIT.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Water Code Code Ann. § 36.153 (2026).

Text

Sec. 36.153. ANNUAL AUDIT.

(a)Annually and subject to Subsection (c), the board shall have an audit made of the financial condition of the district. The district audit shall be performed according to the generally accepted government auditing standards adopted by the American Institute of Certified Public Accountants.

(b)Financial statements shall be prepared in accordance with generally accepted accounting principles as adopted by the American Institute of Certified Public Accountants. The annual audit and other district records must be open to inspection during regular business hours at the principal office of the district.

(c)The district is exempt from the requirement under Subsection (a) if it had:

(1)not more than $500 in receipts from operations, tax assessments, loans, contribu

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Sec. 36.153. ANNUAL AUDIT. (a) Annually and subject to Subsection (c), the board shall have an audit made of the financial condition of the district. The district audit shall be performed according to the generally accepted government auditing standards adopted by the American Institute of Certified Public Accountants.
(b) Financial statements shall be prepared in accordance with generally accepted accounting principles as adopted by the American Institute of Certified Public Accountants. The annual audit and other district records must be open to inspection during regular business hours at the principal office of the district.
(c) The district is exempt from the requirement under Subsection (a) if it had:
(1) not more than $500 in receipts from operations, tax assessments, loans, contributions, or any other sources during the calendar year;
(2) not more than $500 in disbursements of funds during the calendar year;
(3) no bonds or other liabilities with terms of more than one year outstanding during the calendar year; and
(4) no cash or investments amounting to more than $5,000 at any time during the calendar year.
(d) A financially dormant district may elect not to conduct an audit and instead submit to the executive director a financial dormancy affidavit.

Legislative History

Added by Acts 1995, 74th Leg., ch. 933, Sec. 2, eff. Sept. 1, 1995. Amended by Acts 2003, 78th Leg., ch. 785, Sec. 52, eff. Sept. 1, 2003. Amended by: Acts 2015, 84th Leg., R.S., Ch. 415 (H.B. 2767 ), Sec. 9, eff. June 10, 2015.