§ 36-10-11-35 — Board of managers; preparation and review of annual budget; approval of expenditures

(a) The board of managers shall prepare a
budget for each calendar year governing the projected operating
expenses, the estimated income, and reasonable reserves. It shall
submit that budget for review, approval, or addition to the fiscal body
of the lessee governmental entity.
(b) The board of managers may not make expenditures except as
provided in the approved budget, and all additional expenditures are
subject to approval by the fiscal body of the entity.
(c) Payments to the users of a building or a part of it that constitute
a contractual share of box office receipts are not considered an
operating expense or an expenditure within the meaning of this section,
and the board of managers may make those payments without approval.
As added by Acts 1982, P.L.218, SEC.5. Amended by
P.L.178-2002, SEC.139.