Texas Government Code 845.310 – Endowment Fund
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(a) The endowment fund consists of the general reserves account and other accounts as necessary.
Terms Used In Texas Government Code 845.310
- 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.
(b) Repealed by Acts 2005, 79th Leg., Ch. 506, Sec. 33(15), eff. January 1, 2006.
(c) The retirement system shall credit or charge to the general reserves account amounts allocated to the endowment fund in accordance with § 845.315.
(c-1) As of December 31, the board of trustees shall provide from the general reserves account the amount needed to pay the retirement system’s estimated operating expenses for the next fiscal year.
(d) The board of trustees may allocate any amount in the endowment fund to any other account or fund in the pension trust.
(e) Any allocation of reserves to an account of a subdivision to which § 842.052, 842.053, or 845.317 applies must be specifically authorized by board resolution.
(f) Repealed by Acts 2005, 79th Leg., Ch. 506, Sec. 33(15), eff. January 1, 2006.