| (a) To be eligible to participate in the state employee
charitable campaign, if the charitable organization's budget:
(1) is equal to or less than $250,000, the organization
shall provide a completed Internal Revenue Service (IRS) Form 990
and an accountant's review that offers full and open disclosure of
the organization's internal operations; or
(2) is greater than $250,000, the organization shall
be audited annually in accordance with generally accepted auditing
standards of the American Institute of Certified Public Accountants.
A copy of the report of such audit shall be provided with the application
along with a completed Internal Revenue Service (IRS) Form 990.
(b) When a charitable organization submits an audit
or accountant's review, a copy of the organization's most recent annual
audit or accountant's review must be included with the application.
The audit or accountant's review must cover the fiscal year ending
not more than 18 months prior to the January of the campaign year
in which the organization is applying for participation. The IRS Form
990 and audit or accountant's review must cover the same fiscal period.
(c) If the revenue or expenses on the audit or accountant's
review differ from those appearing in IRS Form 990, a reconciliation
must be included in IRS Form 990 itself or be explained in a letter
of reconciliation signed by the Executive Director and enclosed with
the application.
(d) Should the accompanying reconciliation letter not
clarify the differences to the satisfaction of the committee, the
committee may require additional explanation from the applicant organization.
The committee may also require additional explanation to be submitted
in the form of a reconciliation letter signed by:
(1) the auditor or firm that conducted the audit;
(2) the accountant or firm that conducted the accountant's
review; or
(3) the accountant or firm who prepared IRS Form 990.
|
| Source Note: The provisions of this §329.1 adopted to be effective May 1, 2003, 28 TexReg 3517; amended to be effective November 30, 2006, 31 TexReg 9617; amended to be effective October 30, 2008, 33 TexReg 8808; amended to be effective December 4, 2014, 39 TexReg 9363 |
