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Texas Government Code - GOV'T § 802.103. Annual Financial Report

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The governing body of a public retirement system shall publish an annual financial report showing the financial condition of the system as of the last day of the fiscal year covered in the report.  The report must include:

(1) the financial statements and schedules examined in the most recent audit performed as required by Section 802.102;

(2) a statement of opinion by the certified public accountant as to whether or not the financial statements and schedules are presented fairly and in accordance with generally accepted accounting principles;

(3) a listing, by asset class, of all direct and indirect commissions and fees paid by the retirement system during the system's previous fiscal year for the sale, purchase, or management of system assets;  and

(4) the names of investment managers engaged by the retirement system.

(b) The governing body of a public retirement system shall, before the 211th day after the last day of the fiscal year under which the system operates, file with the State Pension Review Board a copy of each annual financial report it makes as required by law.

(c) Repealed by Acts 2013, 83rd Leg., ch. 1152 (S.B. 200), § 17 and Acts 2013, 83rd Leg., ch. 1316 (S.B. 220), § 4.01(1).

(d) A general audit of a governmental entity, as defined by Section 802.1012, does not satisfy the requirement of this section.

(e) The board may adopt rules necessary to implement this section.

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Cite this article: FindLaw.com - Texas Government Code - GOV'T § 802.103. Annual Financial Report - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-802-103/

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