Added by Stats. 2003, Ch. 57, Sec. 5. Effective January 1, 2004.
(a)On or before August 30 of each year, the board of trustees shall adopt a final budget, which shall conform to the accounting and budgeting procedures for special districts contained in Subchapter 3 (commencing with Section 1031.1) of, and Article 1 (commencing with Section 1121) of Subchapter 4 of Division 2 of Title 2 of the California Code of Regulations.
(b)The board of trustees may divide the annual budget into categories, including, but not limited to:
(1)Maintenance and operation.
(2)Employee compensation.
(3)Interest and redemption for indebtedness.
(4)Restricted reserves for the following categories:
(A)Endowment income fund.
(B)Capital outlay.
(C)Pre-need.
(D)Contingencies.
(5)Unallocated general reserve.
(c)The board of trustees shall forward a copy of the final budget to the auditor of each county in which the district is located.
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