Fraser Files Legislation to Require LCRA Audit
Senator Troy Fraser (R-Horseshoe Bay) filed legislation on Friday to require the Texas State Auditor to conduct a comprehensive financial-related audit of the Lower Colorado River Authority (LCRA). The review must include an audit of their operations and performance and be completed by January 1, 2015.
"Since being elected to Senate District 24 in 1996, I have constantly battled with the LCRA on how they conduct business," Fraser stated. "Asking the State Auditor to do a thorough review of LCRA's finances and operations would benefit all the customers in the basin."
Currently, under the Water Code, the State Auditor may perform audits of financial transactions of any district. Senate Bill 448 clarifies that a special water authority also could be audited. It would require a district to reimburse the State Auditor's Office for the cost of performing the audit.
"An independent review of the LCRA's performance is good for them and for the state," continued Fraser. "We need to make sure the people we have managing the LCRA have all the information they need to make the best choices for both water and electric customers."