(a) Except as otherwise provided by this chapter, the district may not incur an obligation payable from district revenue other than revenue held by the district or to be held by the district in the current district fiscal year.
(b) Money may be spent only for an expense included in the budget or an amendment to the budget.

Terms Used In Texas Special District Local Laws Code 1098.154

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • 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.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
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