(a) The authority shall operate on a fiscal year beginning September 1.
(b) The state auditor may audit the authority's books and accounts, based on a risk assessment performed by the state auditor and subject to the legislative audit committee's approval of including the audit in the audit plan under Section 321.013, Government Code. The cost of an audit shall be paid by the authority.
(c) A copy of the audit shall be filed with the governor and with both houses of the legislature on or before January 1 of each year, except if the audit is being made by the state auditor and is not available by January 1, it shall be filed as soon as it is available.
Official text of the Texas Water Code as published by the Texas Legislative Council.