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HB 1673

AN ACT relating to the publication of annual financial statements by a

House Bill • Schatzline
Filed

Filed

Bill introduced by legislator

Committee

Hearing

Passed Cmte

Calendar

Passed

Sent

Enrolled

Governor

Signed

89th Regular Session

Jan 14, 2025 - Jun 2, 2025 • Session ended

Awaiting Committee Assignment

Bill filed, pending referral to House committee

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Committee

Not yet assigned

Fiscal Note

Not available

What This Bill Does

Requires municipalities to prepare and submit detailed annual financial statements to the Texas Comptroller within two months of their fiscal year-end. The statements must comprehensively break down all fund receipts by revenue source and disbursements by expenditure type, providing transparent financial information for each municipal fund. The Comptroller will then publish these statements on their website, making municipal financial data easily accessible to the public.

Subject Areas

COMPTROLLER OF PUBLIC ACCOUNTS City Government--Finance Taxation--Property-Miscellaneous INTERNET Fees & Other Nontax Revenue--Local

Bill Text

relating to the publication of annual financial statements by a
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1.  The heading to Chapter 103, Local Government
Code, is amended to read as follows:
CHAPTER 103. AUDIT AND DISCLOSURE OF MUNICIPAL FINANCES
SECTION 2.  Chapter 103, Local Government Code, is amended
by adding Section 103.005 to read as follows:
Sec. 103.005.  ANNUAL FINANCIAL STATEMENT OF MUNICIPALITY.
(a)  The governing body of a municipality shall prepare an annual
financial statement showing, for each fund subject to the authority
of the governing body during the municipality's fiscal year:
(1)  the total receipts of the fund, itemized by source
of revenue, including taxes, assessments, service charges, grants
of state money, gifts, or other general sources from which funds are
(2)  the total disbursements of the fund, itemized by
the nature of the expenditure; and
(3)  the balance in the fund at the close of the fiscal
(b)  The governing body of a municipality shall submit the
financial statement prepared under Subsection (a) to the
comptroller not later than two months after the end of the
municipality's fiscal year.  The comptroller shall post the
financial statement on the comptroller's Internet website on a web
page that is easily located by searching the name of the
municipality on the Internet.  The comptroller shall adopt rules
necessary to implement this subsection.
SECTION 3.  This Act takes effect September 1, 2025.

Bill Sponsors

Legislators who authored or co-sponsored this bill.

Nate Schatzline

Nate Schatzline

Primary Author
R House District 93

Bill History

filed

Bill filed: AN ACT relating to the publication of annual financial statements by a

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