Arizona Laws 5-831. Annual budget
A. Beginning in 2001, on or before June 30 of each year the board shall hold a public hearing to adopt a budget for the following fiscal year that includes:
Terms Used In Arizona Laws 5-831
- Authority: means the tourism and sports authority. See Arizona Laws 5-801
- Board: means the board of directors of the authority. See Arizona Laws 5-801
- 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
- Multipurpose facility: means any facility that is suitable to be used to accommodate professional football franchises, major college football bowl sponsors, other sporting events and entertainment, cultural, civic, meeting, trade show or convention events or activities and may include a stadium, on-site infrastructure, parking garages and lots and related commercial uses within the facility. See Arizona Laws 5-801
1. Receipts during the past fiscal year.
2. Expenditures during the past fiscal year.
3. Estimates of amounts necessary for expenses during the following fiscal year including amounts proposed for:
(a) Costs of planning, constructing, financing, maintaining, operating and managing a multipurpose facility.
(b) Promotional and marketing expenses of the authority.
(c) Administrative costs of the authority.
4. Anticipated revenue to the authority from each source in the following fiscal year.
5. A complete asset and liability statement.
6. A statement of profit or loss from operations.
7. Cash on hand as of the date the budget is adopted and the anticipated balance at the end of the current fiscal year.
8. An itemized statement of commitments, reserves and anticipated obligations for the following fiscal year.
B. The board may amend the budget on a finding of good cause.