Texas Statutes (Last Updated: January 4, 2014) |
GOVERNMENT CODE |
Title 10. GENERAL GOVERNMENT |
Subtitle F. STATE AND LOCAL CONTRACTS AND FUND MANAGEMENT |
Chapter 2266. FINANCIAL ACCOUNTING AND REPORTING |
Subchapter B. FINANCIAL ACCOUNTING AND REPORTING STANDARDS |
Sec. 2266.051. REQUIREMENTS FOR SYSTEM OF ACCOUNTING AND REPORTING
Latest version.
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The system of accounting for and reporting the financial activities of this state and its political subdivisions:
(1) must be consistent with state financial laws;
(2) may not misrepresent the nature, scope, or duration of the financial activities of the state or political subdivision; and
(3) may follow the statutory standards in this chapter when other accounting bases conflict with state law.
Added by Acts 2007, 80th Leg., R.S., Ch. 1224 , Sec. 2, eff. June 15, 2007. Renumbered from Government Code, Section 2264.051 by Acts 2009, 81st Leg., R.S., Ch. 87 , Sec. 27.001(49), eff. September 1, 2009.