A charter holder must have a depository bank into which the Texas Education Agency (TEA) deposits funds for the charter holder. The charter holder creates a depository relationship with a bank by executing a depository contract with the bank.
Related Texas Rules and Statutes
Procedure for Depository Contract—Charter Holder
By November 1 of each year, the charter holder must either:
- File a signed statement that there have been no changes to the accepted depository contract currently on file with the TEA.
The contract and direct deposit form or the statement can be submitted by either email or fax:
Review the instructions below before submission because the depository contract and the direct deposit form will not be accepted if the forms are incomplete or incorrect:
Account Information Update
If direct deposit account information changes, a new Vendor Direct Deposit Authorization form must be submitted:
Contact List for More Information
For additional information, contact:
Division of Financial Compliance
Phone: (512) 463-9095