Sec. 451.133. OPERATING EXPENSES AND CAPITAL EXPENDITURES. (a) An authority may not spend for capital improvements money in excess of the total amount allocated for major capital expenditures in the annual budget.
(b) The board shall adopt rules requiring each major department of the authority to report quarterly on operating expenses and capital expenditures of the department.
(c) The board shall establish a system for tracking the progress of the authority's capital improvement projects.
(d) The board shall maintain, update, and post on the authority's Internet website accounting records for each authority account, including:
(1) the account's balance at the end of the fiscal year;
(2) deposits to the account;
(3) account expenditures; and
(4) interest income to the account.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1327 (S.B. 650), Sec. 1, eff. June 17, 2011.
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