Common use of Proposed Budget Clause in Contracts

Proposed Budget. (1) Annually on or before the first Monday in October, the Board shall prepare a budget for the Authority for the next fiscal year, which shall include an estimate of the revenue of the Authority from fees and other sources, revenues from each member’s assessment, and expenses for the next fiscal year, including operating and planning expenses, debt service, payments due on long-term contracts, payments due to any sinking funds for the retirement of indebtedness, payments due to any capital reserve funds, debt service reserve funds, operating reserve funds, and payments due to any other funds established by the Authority. The budget shall be in such form as deemed most useful and desirable by the Board, and shall be so arranged to show budgeted income and expenditures for the upcoming and current fiscal year and budgeted and estimated or actual income and expenditures from the preceding two fiscal years.

Proposed Budget. (1) Annually on or before the first Monday in OctoberNovember 1, the Board shall prepare a budget for the Authority authority for the next fiscal year, which shall include an estimate of the revenue of the Authority from fees and other sources, revenues from each member’s assessment, and expenses for the next fiscal year, including operating and planning expenses, debt service, payments due on long-term contracts, payments due to any sinking funds for the retirement of indebtedness, payments due to any capital reserve funds, debt service reserve funds, operating reserve funds, and payments due to any other funds established by the Authority. The budget shall be in such form as deemed most useful and desirable by the Board, and shall be so arranged as to show budgeted income and expenditures for of the upcoming and current fiscal year and budgeted and estimated or actual income and expenditures from of the preceding two fiscal years.