Texas Special District Local Laws Code 1094.205 – Fiscal Year
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(a) The district operates according to a fiscal year that begins on October 1 and ends on September 30, or as established by the board.
(b) The fiscal year may not be changed if revenue bonds of the district are outstanding or more than once in a 24-month period.
Terms Used In Texas Special District Local Laws Code 1094.205
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Year: means 12 consecutive months. See Texas Government Code 311.005