FINANCIAL REPORTING

The Harris Galveston Subsidence District conducts its financial business using the governmental fund system.  A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. Harris-Galveston Subsidence District, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the District are governmental funds. The District has no proprietary funds.

BUDGETS

The Harris Galveston Subsidence District is required to adopt an annual budget before the commencement of a new fiscal year, which begins on January 1st and ends on the following December 31st. The budget development schedule is generally a six-month process from June through November and includes the following steps: goal setting, formulation of section budgets, review of proposed budget by General Manager, Finance Committee review of proposed budget, final board review and adoption, monthly budget review and amendments (as necessary).

2017 HGSD Operating Budget
The 2017 budget supports three programmatic areas: General Operations, Water Conservation, and Science & Research.  The General Fund with 2017 estimated expenses of $3.35 million is supported by revenues primarily generated through the assessment of permit and application fees. The Water Conservation Program includes two primary efforts including the “Water-Wise” elementary school education program and outdoor irrigation campaign supported by student sponsorship’s of $35.40 per student. The Science & Research program is supported by revenues generated through the District’s Disincentive Fee of $8.46 per thousand gallons. District Science & Research is guided by the District’s Science and Research Strategic Plan.  Some District fees increased January 1, 2017. To see the District Fee Schedule, go to page 7 (Table 3) of the 2017 HGSD Operating Budget.

2016 Annual Audit and Financial Report

The Harris-Galveston Subsidence District is required by statute to conduct an independent annual audit to verify the financial condition of the District. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the District’s financial statements.

2016 Annual Independent Audit and Financial Report

Contact HGSD

Harris-Galveston Subsidence District
1660 West Bay Area Blvd
Friendswood, TX 77546-2640
Voice : (281) 486-1105
Fax: (281) 218-3700

Office Hours

Monday – Friday
8:00 AM – 5:00 PM
Closed on State Holidays.

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