1. (a) The board and the district administrator shall jointly 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 to the credit of each fund of the district;
   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 to cover the proposed budget; and
   7. (7) the estimated tax rate required.

Added by Acts 2013, 83rd Leg., R.S., Ch. 1306 (H.B. 3793), Sec. 5, eff. September 1, 2013.

Acts 2015, 84th Leg., R.S., Ch. 382 (H.B. 1596), Sec. 9, eff. June 10, 2015.