(a)  Not later than sixty (60) days prior to the beginning of each fiscal year, the district management authority will annually prepare an operating budget containing:

(1)  An estimate of surplus from its current fiscal year available for expenditure in the ensuing fiscal year;

(2)  An estimate of receipts for the ensuing fiscal year from the special tax assessment provided for in this chapter;

(3)  An estimate of receipts for the ensuing fiscal year from all other sources; and

(4)  An estimate of expenditures for the ensuing fiscal year for the carrying on of the district management authority’s activities including debt service, if any.

Terms Used In Rhode Island General Laws 45-59-14

  • District management authority: means a district management authority established pursuant to the provisions of this chapter. See Rhode Island General Laws 45-59-3
  • Fiscal year: means the fiscal year of the municipality within which the management district is located; "first fiscal year" means the first full fiscal year after the fiscal year during which the management district is created; subsequent fiscal years are referred to in like manner. See Rhode Island General Laws 45-59-3
  • 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.
  • Municipality: means a city or town of the state of Rhode Island having a population according to the most recent federal census of not less than one hundred thousand (100,000); however, notwithstanding the population requirement, the cities of Newport and Pawtucket shall be considered municipalities for purposes of this chapter. See Rhode Island General Laws 45-59-3

(b)  Prior to the adoption of the budget, the district management authority will hold a public hearing thereon at which all interested persons may be heard. Notice of the public hearing will be given by publication in a newspaper of general circulation within the municipality at least once a week for three (3) successive weeks prior to the date of the hearing.

History of Section.
P.L. 2001, ch. 205, § 1; P.L. 2001, ch. 373, § 1.