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

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 […]