CDA(LEGAL) - ACCOUNTING: FINANCIAL REPORTS AND STATEMENTS

Financial Accounting and Reporting

Financial Reports

Annual Financial Statement

  1. The total receipts of the fund, itemized by source of revenue, including taxes, assessments, service charges, grants of state money, gifts, or other general sources from which funds are derived;
  2. The total disbursements of the fund, itemized by the nature of the expenditure; and
  3. The balance in each fund at the close of the fiscal year.

Publication and Filing

Annual Local Debt Report

  1. Regarding total authorized debt obligations:
    1. The amount of all authorized debt obligations;
    2. The principal of all outstanding debt obligations;
    3. The combined principal and interest required to pay all outstanding debt obligations on time and in full;
    4. The amount of all authorized debt obligations secured by property taxes;
    5. The principal of all outstanding debt obligations secured by property taxes;
    6. The combined principal and interest required to pay all outstanding debt obligations secured by property taxes on time and in full;
    7. The combined principal and interest required to pay all outstanding debt obligations on time and in full for all obligations secured by property taxes expressed as a per capita amount; and
    8. The current credit rating on total debt obligations given by any nationally recognized credit rating organization.
  2. Regarding each authorized debt obligation:
    1. The principal of each outstanding debt;
    2. The combined principal and interest required to pay each outstanding debt obligation on time and in full;
    3. The issued and unissued amounts, the spent and unspent amounts, the maturity date and the stated purpose for which each debt obligation was authorized; and
    4. The current credit rating on each debt obligation given by any nationally recognized credit rating organization.
  3. Any other information considered relevant or necessary to explain the above required data elements, such as explanations of payment sources for different kinds of debt or projections of per capita amounts of ad valorem taxation-secured obligations as of the last day of the maximum term of the most recent debt obligation issued by the political subdivision.

Form

Availability and Posting

  1. Submit an Annual Local Debt Report to the comptroller as described in 34 Administrative Code 10.3, in the form and in the manner prescribed by the comptroller and, if the political subdivision maintains an internet website, continually maintain a link from its website to the location on the comptroller's website where the political subdivision's financial information may be viewed; or
  2. Post its contact information and the information required in an Annual Local Debt Report on the political subdivision's own internet website and make the report available for inspection by any person in accordance with other law.

State Expenditure Database

Publication of Financial Transactions

  1. The amount of the payment;
  2. The date of the payment;
  3. A brief description of the purpose of the payment; and
  4. The name of the payee.

Western Texas College

CDA(LEGAL)-LJC

UPDATE 40

DATE ISSUED: 11/18/2020