June 2018 Information Item 4
Notice of Intent to Amend the Financial Accountability System Resource Guide
June 15, 2018
STATE BOARD OF EDUCATION: INFORMATION
SUMMARY: This item provides notice of intent to amend the Financial Accountability System Resource Guide. In accordance with 19 TAC §109.41, the commissioner of education shall amend the Financial Accountability System Resource Guide, as needed, adopting it by reference per 19 TAC Chapter 109, Budgeting, Accounting, and Auditing, Subchapter C, Adoptions by Reference. The amendment being proposed includes updates to modules and to remove obsolete references. Specifically, modules: 1 – Financial Accounting and Reporting, 4 - Auditing, 10 – Special Supplement – Charter Schools, and 11 – Special Supplement – Non-profit Charter School Chart of Accounts; and repeal of modules: 2 – Budgeting, 5 – Site Based Decision-Making, 6 – Accountability, 7 – Data Collection and Reporting, and 8 – Management. The effective date of the proposed amendment will be 20 days after filing as adopted with the Texas Register.
STATUTORY AUTHORITY: Texas Education Code (TEC), §§7.055, 7.102(c)(32), 44.001, 44.007, and 44.008.
BOARD RESPONSE: This item informs the board of the intent to amend the Financial Accountability System Resource Guide, and of the effect of the proposed amendment prior to filing with the Texas Register, as required by 19 TAC §109.41.
PREVIOUS BOARD ACTION: The current Financial Accountability System Resource Guide, dated January 2010, was adopted by reference in 19 TAC §109.41, effective April 26, 2010. The amendment was necessary to incorporate updates to all resource guide modules and the charter school supplement.
FUTURE ACTION EXPECTED: While the current amendment is proposed to implement immediate, necessary changes, the Financial Accountability System Resource Guide will undergo a further, comprehensive review, which may result in another amendment. A notice of intent to amend the Financial Accountability System Resource Guide will appear in the information pages of a future SBOE agenda.
BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: In accordance with 19 TAC §109.41, the commissioner of education shall amend the Financial Accountability System Resource Guide, as needed, adopting it by reference. The amendment being proposed includes updates to all resource guide modules as a result of authoritative accounting changes and to remove obsolete references.
FISCAL IMPACT: None.
PUBLIC AND STUDENT BENEFIT: The amendment would improve financial accountability for educational programs in the Texas school system and keep financial management practices current with changes in state law and federal rules and regulations.
PROCEDURAL AND REPORTING IMPLICATIONS: None.
LOCALLY MAINTAINED PAPERWORK REQUIREMENTS: None.
PUBLIC COMMENTS: None.
ALTERNATIVES: None.
OTHER COMMENTS AND RELATED ISSUES: None.
Respectfully submitted,
Mike Morath
Commissioner of Education
Staff Members Responsible:
Leo Lopez, Associate Commissioner
School Finance Department
David Marx, Director
Financial Compliance
Attachment: Statutory Citations (PDF, 18 KB)