Arizona Laws 28-8523. Annual operating budget
A. Before June 1 or at an earlier time as may be specified in the agreement described in section 28-8521, the joint powers airport authority’s board of directors shall recommend to the members of the airport authority an annual operating budget for the airport authority for the next fiscal year. Before the determination by the airport authority board of directors as to the amount of the budget allocation for each member that may require a levy of taxes, the airport authority board of directors shall take into account all revenues and fees of the airport and other monies legally available to fund the operations of the airport and airport authority.
Terms Used In Arizona Laws 28-8523
- Board: means the transportation board. See Arizona Laws 28-101
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
B. The governing bodies of the airport authority’s members, including any new members who are admitted pursuant to section 28-8526, shall approve and adopt, in the manner specified in the agreement described in section 28-8521, an operating budget for the airport authority before August 1 or at an earlier time as may be specified in the agreement described in section 28-8521.