(a) The district administrator shall prepare an annual budget for approval by the board.
(b) The proposed budget must contain a complete financial statement of:
(1) the outstanding obligations of the district;
(2) the cash on hand to the credit of each district fund;
(3) the money received by the district from all sources during the previous year;
(4) the money available to the district from all sources during the ensuing year;
(5) the balances expected at the end of the year in which the budget is being prepared;
(6) the estimated revenue and balances available to cover the budget; and
(7) the estimated tax rate required.

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Texas Special District Local Laws Code 1115.151