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.

Local Gov't Code 140.005

Publication and Filing

Local Gov't Code 140.006

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.

Local Gov't Code 140.008(b); 34 TAC 10.2

Form

Availability and Posting

  1. Submit via upload to the comptroller's internet website the completed Annual Local Debt Report Form provided 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 the information required in an Annual Local Debt Report on the political subdivision's own internet website.
  1. This information is made available for inspection by any person and posted continuously on the political subdivision's website until the political subdivision posts the next year's annual debt information; and
  2. The contact information for the political subdivision's main office is posted continuously on the website and such information includes a physical address, mailing address, main telephone number, and an email address.

Local Gov't Code 140.008(c)–(d), (f); 34 TAC 10.4

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.

Education Code 51.9741

Austin Community College

CDA(LEGAL)-LJC

UPDATE 34

DATE ISSUED: 4/17/2018