1. (a) The district administrator shall prepare a proposed annual budget for the district.

2. (b) The proposed budget must contain a complete financial statement, including a statement of:

   1. (1) the outstanding obligations of the district;
   2. (2) the amount of cash on hand in each district fund;
   3. (3) the amount of money received by the district from all sources during the previous year;
   4. (4) the amount of money available to the district from all sources during the ensuing year;
   5. (5) the amount of the balances expected at the end of the year in which the budget is being prepared;
   6. (6) the estimated amount of revenues and balances available for the proposed budget; and
   7. (7) the estimated tax rate required.

Added by Acts 2005, 79th Leg., Ch. 729 (H.B. 2019), Sec. 1.01, eff. April 1, 2007.