HB 1378 – Texas Comptroller’s Local Government Debt Transparency
As you probably know, the 84th Legislature passed HB 1378 to increase the transparency of local government debt. Under Local Government Code § 140.008, political subdivisions, including school districts must annually compile their debt obligation data from the preceding fiscal year and report it to the Comptroller and/or post it on their own websites. (More information outlining this regulation can be found by clicking here).
The Comptroller’s office has created an Annual Local Debt Report submission form to format the information required in a standard manner for submission to the Comptroller’s Office. To help you with this process, our firm has gathered the information you will need to complete the Comptroller’s Annual Local Debt Report and Submission and we are happy to assist you in finalizing this submission if you would like. Please let us know if you have any questions or need any further assistance completing this form and submitting it to the Comptroller.
Submission to the Comptroller
Once you have completed the Annual Local Debt Report form and are ready to submit the same to the Comptroller, you may access the submission portal with this link and complete the information listed.
Local Entity Debt Lookup
By following this link on the Comptroller’s office website, you may search for any entity’s submission status to monitor the status of submission.
For fiscal year 2016, Debt Transparency Forms must be submitted within 210 days of the end of the district’s fiscal year and in all following years, this submission will be due within 180 days of the end of the fiscal year.
Date of 2016 Fiscal Year End
Submission Or Posting of Local Debt Information Due
June 30, 2016 -- January 26, 2017
July 31, 2016 -- February 26, 2017
August 31, 2016 -- March 29, 2017
*We have confirmed with the Comptroller's Office that if you have not yet submitted your Debt Transparency Reporting information and your submission deadline has passed, it is not a problem your district will just need to submit them as soon as possible.
We hope this information is helpful and assists you in your compliance with this regulation. If you or anyone at your district has questions regarding this matter please give us a call at any time!