| Issue Date: | 2011-09-01 |
|---|---|
| Revised Date: |
Legal Cites
- Government Code sec. 403.011
Origin:
2011 by S.B. 1000, 82nd Leg., R.S.
Purpose
Agency authorized to hold revenues with the Texas Safekeeping Trust Company. 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 | Credited to General Revenue Fund (0001) |
| Disposition of Balance | Accumulative |
| Appropriation Technique | Not appropriated for state expenditure |
Administering Agencies
Note
This fund is for the processing of Trust related expenses. Fund 1005 is for processing non-trust related expenditures of the Texas Real Estate Commission.
When the balance in the local Real Estate Inspection Trust Fund is more than $600,000 (per Occupations Code 1102.353), the excess is transferred to GR (0001). Fund 0889 used to accept deposit of excess amounts from local fund for transfer to GR.
When the balance in the local Real Estate Inspection Trust Fund is more than $600,000 (per Occupations Code 1102.353), the excess is transferred to GR (0001). Fund 0889 used to accept deposit of excess amounts from local fund for transfer to GR.
USAS Values
| USAS Title | TX REAL ESTATE COMM LOCAL OPER TRUST 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.