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TITLE 4AGRICULTURE
PART 1TEXAS DEPARTMENT OF AGRICULTURE
CHAPTER 23TEXAS COMMODITY LAW
SUBCHAPTER BTEXAS BEEF PROMOTION AND RESEARCH COUNCIL
RULE §23.104Requirements of the Council

(a) The Council shall have an annual independent audit of the books, records of account and minutes of proceedings maintained by the Council prepared by an independent certified public accountant or firm of independent certified public accountants. The audit shall be filed with the Council, the Commissioner and shall be made available to the public by the Council or the Commissioner. The state auditor or the Department may examine any work papers from the independent audit or may audit the transactions of the Council if the state auditor or the Department's internal auditor determines that an additional audit is necessary.

(b) Not later than the 30th day after the last day of the fiscal year the Council shall submit to the Commissioner a report itemizing all income and expenditures and describing all activities of the Council during the preceding fiscal year. The annual report shall include, at a minimum:

  (1) a balance sheet of assets and liabilities;

  (2) an itemization of income/expenditures;

  (3) a statement of Council activities carried out in the year covered by the report; and

  (4) copies of any resolutions adopted by the Council regarding the program.

(c) The Department may allow for late filings of the report required by subsection (b) of this section for good cause.

(d) The Council shall provide fidelity bonds in amounts determined by the Council for employees or agents who handle funds for the Council.

(e) Prior to any expenditure of funds, the Council shall submit its annual budget to the Commissioner for approval. The Department shall act on the Council's budget submission within 45 days of the Department's receipt of the submission.


Source Note: The provisions of this §23.104 adopted to be effective November 5, 2017, 42 TexReg 6002

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