Sec. 17. (a) Before November 1 of each year, the board shall prepare and submit to the fiscal body a budget for the following calendar year governing the board’s projected expenditures from the economic improvement fund. The fiscal body may approve, modify, or reject the proposed budget.

     (b) The board may make an expenditure from the economic improvement fund only if the expenditure was approved by the fiscal body in its review of the board’s budget or was otherwise approved by the fiscal body.

As added by P.L.195-1988, SEC.1.