Arizona Laws 8-1184. Budget and funding process
(Caution: 1998 Prop. 105 applies)
Terms Used In Arizona Laws 8-1184
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board: means the Arizona early childhood development and health board established by this chapter. See Arizona Laws 8-1152
- 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
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
A. Upon receipt and approval of the regional partnership councils’ needs and assets assessments pursuant to section 8-1161, the board shall begin its annual budgeting process.
B. Beginning in 2008, on or before November 1 of each year the board shall hold a public hearing to adopt a budget for the next fiscal year that includes:
1. Receipts during the past fiscal year and current fiscal year to date.
2. Expenditures during the past fiscal year and current fiscal year to date.
3. Estimates of amounts necessary for expenses during the next fiscal year including amounts proposed for:
(a) Funding of regional plans pursuant to sections 8-1161 and 8-1173.
(b) Statewide grants pursuant to section 8-1192.
(c) Statewide and regional programmatic and educational activities of the board pursuant to sections 8-1192 and 8-1161.
(d) Administrative costs of the board and the regional partnership councils.
(e) Expenditure of funds from federal, state, or local grants and/or private gifts, if any.
4. Anticipated revenue to the board from each source available for expenditure in the next fiscal year.
5. A complete asset and liability statement.
6. Cash on hand as of the date the budget is adopted and the anticipated balance at the end of the current fiscal year.
7. An itemized statement of commitments, reserves and anticipated obligations for the next fiscal year.
C. The board may amend the budget on a finding of good cause.