The General Land Office (GLO), Veterans’ Land Board (VLB), Land and Housing Division has established processes and management controls to ensure the adequate management and monitoring of vendor performance for its loan programs.
The Minerals Review section of the Energy Resources program area has established written policies and procedures to perform compliance activities for late reporting, late royalty payments, and oil and gas volume and pricing errors
We concluded that the Receiver’s Office controls are generally effective in ensuring that payments and cash received are appropriately accepted, deposited, and managed in compliance with agency policies.
The Texas General Land Office (GLO) has established processes and controls to ensure the adequate administration of the Gulf of Mexico Energy Security Act (GOMESA) and compliance with the operational guidelines of the act.
The Financial Reporting and Accounting section of the Texas General Land Office and Veterans Land Board has implemented the requirements associated with the Governmental Accounting Standards Board, Statement No. 87, Leases (GASB-87).