Checked against the Texas Register.
Latest adoption: 23 TexReg 5715, published 1998-05-29, effective 1998-06-05, adopted without changes to the proposed text.
The parts checked match the adopted text (No differences in the parts checked: (a), the (b) intro and (b)(5) match 1996, and the (c) intro matches 1998. Not traced: (b)(1)-(4) and (c)(1)-(3), which were 'No change' in 1996 and so carry 1993 or earlier text.).
Register page images from the University of North Texas Portal to Texas History; the Secretary of State publishes the Texas Register.
In force on Oct 21, 2025 · this text took effect Jun 05, 1998
· same as today's text
Audit of Payments to Developer
(a) Prior to the payment of funds to a developer from bond proceeds, bond anticipation note proceeds, funds to be derived from future bond proceeds, or maintenance tax revenue the governing board of directors of the district shall engage an auditor to perform certain agreed upon procedures applicable to all items and amounts for which a reimbursement request has been received. The auditor must be a certified public accountant or public accountant holding a permit from the Texas State Board of Public Accountancy.
(b) As a minimum, the following procedures shall be included to the extent applicable.
(1) All documentation supporting items, amounts, and proof of payment for which reimbursement is requested shall be reviewed.
(2) Interoffice memoranda, orders, and rules of the commission relative to the reimbursement request shall be reviewed.
(3) The calculations of interest on amounts reimbursable are to be tested and determined to be in accordance with interoffice memorandums, orders, and rules of the commission.
(4) All items and amounts shall be disclosed to and discussed with the district's attorney, engineer, financial advisor, and bookkeeper.
(5) A determination shall be made that the items and amounts to be reimbursed are appropriate and in accordance with commitments or policies of the district and interoffice memorandums, orders and rules of the commission as a result of the procedures followed and subject to such limitations as may apply.
(c) Upon completion, the auditor shall prepare a reimbursement report to the district. Such report shall include sufficient details and disclosures to serve the needs of the district and the commission. Within 10 days after approval by the governing board of the district, a copy of this report shall be submitted to the executive director. The contents of the report shall include the following:
(1) auditor's report;
(2) schedules of amounts reimbursable to each developer; and
(3) comparison of amounts included in the interoffice memoranda with amounts reimbursable and anticipated amounts, if any, to be expended in the future.
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History: The provisions of this §293.70 adopted to be effective September 5, 1986, 11 TexReg 3745; amended to be effective June 30, 1993, 18 TexReg 3758; amended to be effective October 22, 1996, 21 TexReg 9905; amended to be effective June 5, 1998, 23 TexReg 5715.
Source: the Legislature's file server, seen Nov 09, 2026.
A research copy. The official text is the Legislature's (statutes), the Secretary of State's (Texas Administrative Code) or eCFR's (federal rules). Not legal advice.
