(a) The district administrator, under the direction of the board, shall prepare an annual budget.
(b) The governing body and the board shall:
(1) provide in each annual budget for the payment of all operation and maintenance expenses of the district; and
(2) consider the estimated excess revenues and income from hospital facilities available for paying the operation and maintenance expenses after providing for the principal, interest, and reserve requirements of revenue bonds issued for the district.

(c) The budget must be approved by the board and presented to the governing body for final approval.
(d) The governing body must approve all budget revisions.