(1) On or before the first regularly scheduled meeting of the board of trustees in November for a calendar year entity and May for a fiscal year entity, the budget officer of each special district shall prepare for the ensuing year, in a format prescribed by the state auditor, and file with the board of trustees a tentative budget for each fund for which a budget is required. (2) (a) Each tentative budget under Subsection (1) shall provide in tabular form: (i) actual revenues and expenditures for the last completed fiscal year; (ii) estimated total revenues and expenditures for the current fiscal year; and (iii) the budget officer's estimates of revenues and expenditures for the budget year. (b) The budget officer shall estimate the amount of revenue available to serve the needs of each fund, estimate the portion to be derived from all sources other than general property taxes, and estimate the portion that shall be derived from general property taxes. (3) The tentative budget, when filed by the budget officer with the board of trustees, shall contain the estimates of expenditures together with specific work programs and any other supporting data required by this part or requested by the board. (4) The board of trustees shall review, consider, and tentatively adopt the tentative budget in any regular meeting or special meeting called for that purpose and may amend or revise the tentative budget in any manner that the board considers advisable prior to public hearings, but no appropriation required for debt retirement and interest or reduction of any existing deficits under Section 17B-1-613, or otherwise required by law, may be reduced below the minimums so required. (5) When a new district is created, the board of trustees shall: (a) prepare a budget covering the period from the date of incorporation to the end of the fiscal year; (b) substantially comply with all other provisions of this part with respect to notices and hearings; and (c) pass the budget as soon after incorporation as feasible.
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