The Comptroller of Public Accounts proposes an amendment to §5.160, concerning incorporation by reference: accounting policy statements 2008-2009. The accounting policy statements are issued to provide procedures and guidelines to state agencies for the effective operation of the Uniform Statewide Accounting System and for preparation of the annual financial report. Each accounting policy statement contains legal references, a background section, comptroller requirements and state agency requirements, and division contact if more information is needed. Section 5.160 is amended to correct the applicable biennium years, the effective date of the accounting policy statements and the name of the Fund Accounting Division.

John Heleman, Chief Revenue Estimator, has determined that for the first five-year period the rule will be in effect, there will be no significant revenue impact on the state or units of local government.

Mr. Heleman also has determined that for each year of the first five years the rule is in effect, the public benefit anticipated as a result of enforcing the rule will be by facilitating the collection and dissemination of state financial information. The proposed amendment would have no fiscal impact on small businesses. There is no significant anticipated economic cost to individuals who are required to comply with the proposed rule.

Comments on the proposal may be submitted to Daniel Benjamin, Manager of Fiscal Integrity, P.O. Box 13528, Austin, Texas 78711.

The amendment is proposed under Government Code, §§403.011, 2101.012, 2101.035, and 2101.037, which provide the comptroller with the authority to prescribe rules and procedures relating to the operation of the Uniform Statewide Accounting System, the preparation of the annual financial report and supervising the state's fiscal concerns.

The amendment implements Government Code, §§403.011, 2101.012, 2101.035, and 2101.037.