The Comptroller of Public Accounts adopts to incorporate by reference an amendment to §5.160, concerning accounting policy statements, with changes to the proposed text as published in the May 11, 2001, issue of the Texas Register (26 TexReg 3451).

The accounting policy statements are issued to provide procedures and guidelines to state agencies for the effective operation of the Uniform Statewide Accounting System (USAS) 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. The rule as proposed is being changed to update the fiscal years during which the accounting policy statements are applicable (2002-2003), to correct the issue date of the accounting policy statements to September 1, 2001, and to correct a grammatical error.

No comments were received concerning the proposed amendment.

This amendment is adopted under the Government Code, §§403.011, 2101.012, 2101.035, and 2101.037 which provides 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, §2101.012 and §2101.035.