Sec. 49.158.  FISCAL YEAR.  Within 30 days after a district becomes financially active, the board shall adopt a fiscal year by a formal board resolution.  The district shall notify the executive director of the adopted fiscal year within 30 days after adoption.  The district may change its fiscal year at any time;  provided, however, it may not be changed more than once in any 24-month period.  After any change in the district's fiscal year, the district shall notify the executive director of the changed fiscal year within 30 days after adoption.
Added by Acts 1995, 74th Leg., ch. 715, Sec. 2, eff. Sept. 1, 1995.