Sec. 9051.109. BUDGET. (a) Before the adoption of the district's annual tax rate, the president of the board must prepare, or have prepared, and the board must approve a budget to cover all proposed expenditures of the district for the succeeding tax year.
(b) The budget must:
(1) be itemized to make as clear as practicable a comparison between the expenditures included in the proposed budget and the actual expenditures for the same or similar purposes for the preceding tax year;
(2) show as definitely as possible each project for which appropriations are included in the budget and the estimated amount of money included in the budget for each project; and
(3) contain a complete financial statement of the district showing:
(A) all outstanding obligations;
(B) the cash on hand to the credit of each fund;
(C) the money received from all sources during the preceding year;
(D) the money available from all sources during the succeeding year;
(E) the estimated revenue available to cover the proposed budget; and
(F) the estimated tax rate required for the succeeding tax year.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.06, eff. April 1, 2017.
Text of section effective on April 01, 2017
Last modified: September 28, 2016