Skip Navigation Links
Front Page
About GNSExpand About GNS
CommunitiesExpand Communities
EducationExpand Education
Links Directory
Medicine & Science
Opinion/ForumExpand Opinion/Forum
Public Safety

State of Texas
Texas Comptroller of Public Accounts
News Release
Thursday, August 10, 2017

New Reporting Requirements Ahead for State Funds Held
Outside the State Treasury

AUSTIN — Most of the state’s revenue passes through the State Treasury. Yet billions more in state funds are held by state agencies and public colleges and universities in accounts outside the Treasury, and can be used without legislative appropriations.

These local funds amounted to at least $7.5 billion at the end of fiscal 2015. We take a closer look at local funds, and recently approved legislation that promises to shed additional light on this area of the state’s finances, in the latest issue of Fiscal Notes.

“These local funds receive comparatively little oversight from lawmakers or scrutiny by the general public,” Texas Comptroller Glenn Hegar said. “Keeping these local funds outside the Treasury reduces interest income earned by the state’s General Revenue Fund and makes it harder for policymakers to get a true picture of the state’s finances.”

In this issue, we also look at the work of our Treasury Operations Division, which processes checks, collects billions in state receipts, issues warrants to pay state debts, maintains more than 500 state bank accounts and aids the financial operations of about 200 state agencies and institutions.

Fiscal Notes is available online and also can be received by subscribing via the Comptroller’s website.

Fiscal Notes helps promote and further explain the Comptroller’s constitutional responsibility to monitor the state’s economy and estimate state government revenues. It has been published since 1975, featuring in-depth analysis concerning state finances and original research by subject-matter experts in the Comptroller’s office.

Remembering Jim Guidry M3 Global Medical Missions

Guidry News Service is headquartered in Midtown Houston.
at 4001 Fannin Street, Suite 4109, Houston, TX. 77004-4077
(409) 763 NEWS(6397)
© 1996, Guidry News Service. Duplication of any part of this website in any manner is prohibited.