A Performance Audit
A Report on Agencies', Higher Education Institutions', and Community Colleges' Compliance with Public Funds Investment Act and Rider 5, General Appropriations Act, Reporting Requirements
August 2024
Overview
Most agencies, higher education institutions, and community colleges subject to the Public Funds Investment Act (Texas Government Code, Chapter 2256) provided compliance audit reports indicating that they fully or substantially complied with the Act for the biennial period ending on January 1, 2024. One higher education institution provided a report indicating minimal compliance, and one community college did not provide a compliance audit report.
Additionally, higher education institutions, including universities, university systems, and community colleges, are subject to the reporting requirements established in Rider 5, pages III-284 through III-285, General Appropriations Act (88th Legislature), and prescribed by the State Auditor's Office. Most of those institutions complied with Rider 5, as Figure 1 of the report indicates.