Texas Local Government Code 563.058 – Utility System’s Budget
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(a) The president of the board, with the assistance of the business manager, shall propose a budget for each utility system under the board’s control that includes for the next fiscal year of the county:
(1) the anticipated revenue of that utility system by each source; and
(2) the expenses of that utility system and the board.
(b) The president shall submit the budget to the board not later than June 1 of each year.
Terms Used In Texas Local Government Code 563.058
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) The board shall:
(1) schedule a public hearing to consider the budget not later than July 1 of each year;
(2) adopt a final budget not later than July 15 of each year; and
(3) submit the final budget to the commissioners court for consideration as a part of the county budget.
(d) Until the county budget is adopted, the budget for each utility system is the same as the budget for that system in the preceding fiscal year. If a system’s preceding budget was for a period shorter than a complete fiscal year, the budget for that system is increased proportionally to cover a fiscal year.
(e) The board and the commissioners court shall include in the budget an amount sufficient to pay and secure any outstanding obligation under this chapter to the extent the obligation is payable from the revenue of a utility system.