| (a) Written reports.
(1) Project status report. Except as provided in paragraph
(3) of this subsection, for each transportation project, the corporation
shall submit a quarterly project status report after the end of each
of the state's fiscal quarters during the construction of the project,
that must include, at a minimum:
(A) the scope of work authorized by the commission;
(B) the work that has been accomplished in that quarter;
(C) the anticipated completion date of the project,
as well as anticipated completion dates for various segments of the
project, if applicable;
(D) the status of coordinating activities with other
governmental entities and with railroads, utilities and others;
(E) project fiscal data, including funds received,
expended, available, and projected completion costs; and
(F) comments on significant accomplishments, problems,
and concerns of the corporation.
(2) Certification. Reports submitted under this subsection
must be approved by official action of the board and certified as
correct by the president of the corporation.
(3) Inactivity. If the project status has not changed
in the preceding period, the corporation may submit, in lieu of the
quarterly project status report, a certification stating that no activity
has taken place.
(4) Submission dates. Reports or the certification
required by this subsection must be submitted to the executive director
within 60 days after the end of each of the state's fiscal quarter.
(b) Annual commission report. Every 12 months, the
corporation shall submit to the commission a report on its current
condition, status of projects, and activities undertaken the preceding
12 months, and shall be available to appear before the commission,
at the commission's discretion, to discuss the report.
(c) Annual audits. The corporation shall submit reports
of an annual financial audit in accordance with this subsection. A
corporation that is authorized by the commission under §15.94
or §15.95 of this subchapter (relating to CDA Projects Corporation
and Toll Project Corporations, respectively) is not required to have
an annual audit performed and is not required to submit a report under
this subsection.
(1) Submission date. The annual audit shall be submitted
to the executive director within 120 days after the end of the state's
fiscal year (August 31).
(2) Certification. The audit must be conducted by an
independent certified public accountant in accordance with generally
accepted auditing standards. The accompanying financial report shall
be prepared according to pronouncements by the Government Accounting
Standards Board.
(3) Content. The audit shall include, at a minimum:
(A) an evaluation of the corporation's internal accounting
system and controls;
(B) a statement regarding the corporation's compliance
with the guidelines established by the commission for its operation,
including both the positive and negative compliance (summary of all
instances of noncompliance, if any, must be included);
(C) a statement regarding the corporation's compliance
with the Public Funds Investment Act, Government Code, Chapter 2256,
as applicable;
(D) a complete recapitulation of the corporation's
income and expenditures as well as assets and liabilities; and
(E) an unqualified certification by the certified public
accountant.
(4) Paperwork retention period. All work papers and
reports shall be retained for a minimum of four years from the date
of the audit report, unless the certified public accountant is notified
by the department in writing, to extend the retention period.
(5) Availability of audit work papers. If requested
by the department, audit work papers shall be made available to the
executive director at the completion of the audit.
(d) Other reports. The corporation will provide other
reports and information regarding the corporation promptly when requested
by the executive director.
|
| Source Note: The provisions of this §15.90 adopted to be effective January 1, 1997, 21 TexReg 11828; amended to be effective March 15, 2012, 37 TexReg 1784; amended to be effective August 16, 2012, 37 TexReg 6092 |
