(a) The board shall hold a public hearing on the proposed annual budget.
(b) The board shall publish notice of the hearing in a newspaper of general circulation in the district not later than the 10th day before the date of the hearing.
(c) Any resident of the district is entitled to be present and participate at the hearing.
(d) At the conclusion of the hearing, the board shall adopt a budget by acting on the budget proposed by the administrator. The board may make any changes in the proposed budget that in its judgment the interests of the residents of the district demand.
(e) The budget is effective only after adoption by the board.