The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. Not later than June 30 each year the board of directors shall hold a public hearing to adopt and submit to the board of supervisors a budget for the following fiscal year which shall include:
1. Receipts during the past fiscal year.
2. Expenditures during the past fiscal year.
3. Estimates of amounts necessary for administration and operation expenses during the following fiscal year including amounts proposed for:
(a) Recurring items of expense.
(b) Capital items.
(c) Unanticipated contingencies and emergencies.
(d) Events to be promoted by the authority in the following fiscal year.
4. Anticipated revenue to the authority in the following fiscal year.
5. A complete asset and liability statement.
6. A statement of profit or loss from operations.
7. Cash on hand as of the date the budget is adopted and the anticipated balance at the end of the current fiscal year.
8. An itemized statement of commitments, reserves and anticipated obligations for the following fiscal year.
9. The amount budgeted for scholarships.
B. The budget may be amended during the year to account for unanticipated revenues received after the budget is adopted.