103.001 – ANNUAL AUDIT; FINANCIAL STATEMENT. (a) A
Texas Local Government Code § 103.001
Summary
This law requires municipalities to conduct annual audits of their financial records and prepare a financial statement based on the audit results. Additionally, municipalities subject to specific water code provisions must include compliance reports in their financial statements.
Municipalities must conduct annual financial audits.
Annual financial statements are required based on audit results.
Specific compliance reports are needed for certain municipalities.
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In simple terms: Learn about Texas's ANNUAL AUDIT; FINANCIAL STATEMENT. (a) A law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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