Arizona Laws 28-9143. Annual budget
A. No later than June 30 of each year the board of directors shall hold a public hearing to adopt and submit to the county board of supervisors and the governing body of each participating municipality and university a budget for the following fiscal year that includes:
Terms Used In Arizona Laws 28-9143
- Authority: means an intergovernmental public transportation authority established pursuant to this chapter. See Arizona Laws 28-9101
- Board: means the board of directors of an intergovernmental public transportation authority. See Arizona Laws 28-9101
- 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
- Municipality: means an incorporated city or town. See Arizona Laws 28-9101
- Public transportation: means local transportation of passengers by means of a public conveyance. See Arizona Laws 28-9101
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 public transportation system.
(b) Promotional and marketing expenses of the authority for the following year.
4. Anticipated revenue to the authority 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.