Committee adopts updates to Financial Accountability System Resource Guide to reflect new GASB guidance and Texas code changes

Chairman Mayer opened the meeting and introduced item 1: proposed amendments to 19 TAC chapter 109, section 109.41, the Financial Accountability System Resource Guide.

Mr. Marks, an agency staff member, told the committee this was the second reading and final adoption of the resource guide and said, “We did not receive any public comments.” He described the guide as technical accounting and auditing guidance for districts and charters and said staff proposed three buckets of edits: updates to reflect GASB Statement 103, alignment with recent changes to the Texas Education Code purchasing threshold, and cleanup/expansion of state fund codes to clarify grant reporting.

A committee member moved that the State Board approve the proposed amendment for second reading and final adoption and make an affirmative finding of immediate adoption with an effective date 20 days after filing with the Texas Register. An amendment was added to label the changes explicitly as proposed staff changes; the committee adopted the motion and amendment with no objections.

The change to purchasing rules described by staff aligns local purchasing thresholds to a statutory adjustment (from $50,000 to $100,000) and is intended to match agency guidance to the code. Staff said the fund-code revisions aim to separate larger state grants into distinct fund codes for clearer reporting.

The committee adopted the FASRAG updates by general consent; staff said the agency will proceed to file the adopted amendments with the Texas Register.