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:

1. 1. Receipts during the past fiscal year.
2. 2. Expenditures during the past fiscal year.

3. 3. Estimates of amounts necessary for expenses during the following fiscal year including amounts proposed for:

   1. (a) Costs of planning, constructing, financing, maintaining, operating and managing a multipurpose facility.
   2. (b) Promotional and marketing expenses of the authority.
   3. (c) Administrative costs of the authority.
4. 4. Anticipated revenue to the authority from each source in the following fiscal year.
5. 5. A complete asset and liability statement.
6. 6. A statement of profit or loss from operations.
7. 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. 8. An itemized statement of commitments, reserves and anticipated obligations for the following fiscal year.