Sec. 2266.051. REQUIREMENTS FOR SYSTEM OF ACCOUNTING AND REPORTING    


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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.