Issue Date: 2014-09-14
Revised Date: 2023-07-24

Legal Cites

Origin:

2011 by H.B. 2594, 82nd Leg., R.S.

Purpose

Agency authorized to hold revenues with the Texas Safekeeping Trust Company. Annual assessment up to $200 per license for Texas Financial Education Endowment program.

This fund number established in the Uniform Statewide Accounting System (USAS) to facilitate processing and reporting of trust-related expenditures, including payroll, through USAS and the Uniform Statewide Payroll System.

Classification Group 13: Local Trust [?]
Depository Interest Does not retain interest. See note below.
Disposition of Balance Accumulative
Appropriation Technique Not appropriated for state expenditure.

Note

Title and classification changed per Fiscal Management policy on local funds, eff. 9-1-11.

This fund is for the processing of trust related expenses. Fund 1012 is for processing non-trust related expenditures.

This fund is used to receive amounts transferred from outside the state treasury for payment of payroll, warrants and other expenses. Any minimal interest earned on these transfers, while in this fund, are deposited to General Revenue Fund 0001. Interest earned on the principal amounts outside of the state treasury is retained outside of the state treasury.

Legal cite changed from Finance Code sec. 393.628 to sec. 14.113 by S.B. 1371, 88th Leg., R.S.

USAS Values

USAS Title OFC CONSUMR CRDT COMM LOCAL OP TRST FND
Consolidated Fund
State Fund Group 13 - LOCAL TRUST
USAS Status A
Funds held outside the state treasury in a trustee capacity for individuals, private organizations or other governmental entities. Includes assets belonging to individuals and other entities held temporarily in a custodial capacity.