Section 330.1 - Audit and Review Requirements(a) To be eligible to participate in the state employee charitable campaign, if the charitable organization's budget: (1) is equal to or less than $250,000, the organization shall provide a completed Internal Revenue Service (IRS) Form 990 and an accountant's review that offers full and open disclosure of the organization's internal operations; or(2) is greater than $250,000, the organization shall be audited annually in accordance with generally accepted auditing standards of the American Institute of Certified Public Accountants. A copy of the report of such audit shall be provided with the application along with a completed Internal Revenue Service (IRS) Form 990.(b) When a charitable organization submits an audit or accountant's review, a copy of the organization's most recent annual audit or accountant's review must be included with the application. The audit or accountant's review must cover the fiscal year ending not more than 18 months prior to the January of the campaign year in which the organization is applying for participation. The IRS Form 990 and audit or accountant's review must cover the same fiscal period.(c) If the revenue or expenses on the audit or accountant's review differ from those appearing in IRS Form 990, a reconciliation must be included in IRS Form 990 itself or be explained in a letter of reconciliation signed by the Executive Director and enclosed with the application.(d) Should the accompanying reconciliation letter not clarify the differences to the satisfaction of the committee, the committee may require additional explanation from the applicant organization. The committee may also require additional explanation to be submitted in the form of a reconciliation letter signed by: (1) the auditor or firm that conducted the audit;(2) the accountant or firm that conducted the accountant's review; or(3) the accountant or firm who prepared IRS Form 990.34 Tex. Admin. Code § 330.1
The provisions of this §330.1 adopted to be effective May 1, 2003, 28 TexReg 3518; amended to be effective November 30, 2006, 31 TexReg 9617; amended to be effective October 30, 2008, 33 TexReg 8809; amended by Texas Register, Volume 39, Number 48, November 28, 2014, TexReg 9364, eff. 12/4/2014