Texas Local Government Code 327.208 – Limitations On Expenditures and Investments
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(a) A zoo board may not spend money unless the expense is included in the annual budget.
(b) A zoo board may not incur a debt payable from zoo board revenue except for revenue in the current or immediately following fiscal year.
Terms Used In Texas Local Government Code 327.208
- 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.