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(a) Before the adoption of the district's annual tax rate, the president of the board must prepare, or have prepared, and the board must approve a budget to cover all proposed expenditures of the district for the succeeding tax year.
(b) The budget must:
(1) be itemized to make as clear as practicable a comparison between the expenditures included in the proposed budget and the actual expenditures for the same or similar purposes for the preceding tax year;
(2) show as definitely as possible each project for which appropriations are included in the budget and the estimated amount of money included in the budget for each project; and
(3) contain a complete financial statement of the district showing:
(A) all outstanding obligations;
(B) the cash on hand to the credit of each fund;
(C) the money received from all sources during the preceding year;
(D) the money available from all sources during the succeeding year;
(E) the estimated revenue available to cover the proposed budget; and
(F) the estimated tax rate required for the succeeding tax year. (Acts 54th Leg., R.S., Ch. 245, Sec. 6 (part).)
Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 9051.109. Budget - last updated April 14, 2021 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-9051-109.html
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