1. (a) A district as defined under Water Code, §49.001(1), complies with the requirements of this subchapter if the district submits to the comptroller via web upload on an annual basis and within 180 days of the end of the most recently completed fiscal year one of the following:

   1. (1) an annual financial report as described by Water Code, Chapter 49, Subchapter G;
   2. (2) an audit report as described by Water Code, Chapter 49, Subchapter G; or
   3. (3) an affidavit of financial dormancy as described by Water Code, Chapter 49, Subchapter G.
2. (b) For Fiscal Year 2016 and Fiscal Year 2017, a district shall submit the information described in subsection (a) of this section by the later of 180 days after the end of the respective fiscal year or 180 days after the effective date of this rule.

Source Note:The provisions of this §10.5 adopted to be effective January 3, 2018, 42 TexReg 7718.