Arizona Laws 48-4232. Annual budget
A. Not later than June 30 each year the board of directors shall hold a public hearing to adopt and submit to the clerk of the county board of supervisors a budget for the following fiscal year which shall include:
Terms Used In Arizona Laws 48-4232
- Board: means the board of directors of any district established under section 48-4202, subsection A, B or C. See Arizona Laws 48-4201
- District: means any county stadium district established pursuant to section 48-4202, subsection A, B or C. See Arizona Laws 48-4201
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Stadium: means a sports facility or facilities located in the district and designed to accommodate, but not be limited to, major league baseball events or intercollegiate athletic events. See Arizona Laws 48-4201
1. Receipts during the past fiscal year.
2. Expenditures during the past fiscal year.
3. Estimates of amounts necessary for expenses during the following fiscal year including amounts proposed for:
(a) Costs of maintaining, operating and managing the stadium.
(b) Promotional and marketing expenses of the district for the following year.
4. Anticipated revenue to the district in the following fiscal year.
5. A complete asset and liability statement.
6. A statement of profit or loss from operations.
7. Cash on hand as of the date the budget is adopted and the anticipated balance at the end of the current fiscal year.
8. An itemized statement of commitments, reserves and anticipated obligations for the following fiscal year.
B. The board may amend the budget on a finding of good cause.