(a) General rule.-- At least 90 days before commencement of the ensuing fiscal year of the authority, a recommended operating budget shall be prepared and submitted to the board. The operating budget shall set forth the estimated receipts and revenues of the authority during the next fiscal year. The operating budget for the next fiscal year shall be adopted by the board at least 30 days before the end of the current fiscal year. (b) Expenses.-- The money necessary to pay the administrative expenses of the authority during each fiscal year may be drawn from the Regional Destination Facilities Fund and the Regional Growth Fund. Money drawn under this subsection shall be drawn from the funds in proportion to the amount of time and expense involved in administering each fund. The authority shall not use more than 1% of the total revenues from the taxes imposed under Subchapter E (relating to additional sales and use taxes) to pay the administrative expenses of the authority. (c) Public hearing.-- The board shall conduct public hearings and meetings regarding its operating budget.
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