(a) Not later than sixty (60) days prior to the beginning of each fiscal year, the district management authority will annually prepare an operating budget containing: (1) An estimate of surplus from its current fiscal year available for expenditure in the ensuing fiscal year; (2) An estimate of receipts for the ensuing fiscal year from the special tax assessment provided for in this chapter; (3) An estimate of receipts for the ensuing fiscal year from all other sources; and (4) An estimate of expenditures for the ensuing fiscal year for the carrying on of the district management authority’s activities including debt service, if any. (b) Prior to the adoption of the budget, the district management authority will hold a public hearing thereon at which all interested persons may be heard. Notice of the public hearing will be given by publication in a newspaper of general circulation within the municipality at least once a week for three (3) successive weeks prior to the date of the hearing.
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