(a)(1) Proposed budget. Annually, on or before the first day of December, the Board of Supervisors shall prepare and distribute to the legislative body of each member municipality for review and comment an annual report of its activities during the previous 12 months, including a proposed budget of the District for the next fiscal year. This proposed budget shall include reasonably detailed estimates of:
(A)deficits and surpluses from prior fiscal years;
(B)anticipated expenditures for the administration of the District;
(C)anticipated expenditures for the operation and maintenance of any District facilities;
(D)costs of debt service;
(E)payments due on long-term contracts;
(F)payments due to any sinking funds for the retirement of debts;
(G)payments due to any capital reserve funds
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(a)(1) Proposed budget. Annually, on or before the first day of December, the Board of Supervisors shall prepare and distribute to the legislative body of each member municipality for review and comment an annual report of its activities during the previous 12 months, including a proposed budget of the District for the next fiscal year. This proposed budget shall include reasonably detailed estimates of:
(A) deficits and surpluses from prior fiscal years;
(B) anticipated expenditures for the administration of the District;
(C) anticipated expenditures for the operation and maintenance of any District facilities;
(D) costs of debt service;
(E) payments due on long-term contracts;
(F) payments due to any sinking funds for the retirement of debts;
(G) payments due to any capital reserve funds;
(H) anticipated revenues from sources other than assessments to member municipalities;
(I) the necessary appropriations to operate and carry out the District’s functions for the next fiscal year;
(J) the proposed assessment to each member municipality;
(K) other estimates as the Board of Supervisors shall deem necessary to propose; and
(L) any threatened or reasonably anticipated lawsuits or other contingent expenses.
(2) The Board of Supervisors shall hold a public hearing on or before January 1 of each year to receive comments from the legislative bodies of member municipalities and hear all other interested persons regarding the proposed budget. Notice of the hearing shall be given at least seven days prior to the hearing by publication in a newspaper of general circulation in the District, by posting in at least three public places in each member municipality, and by filing with the town or city clerk of each member municipality. The Board of Supervisors shall give consideration to all comments received and make such changes to the proposed budget as it deems advisable.
(b) Budget adoption, appropriations, and assessment. Annually, on or before January 15, the Board of Supervisors shall adopt the budget, appropriate the sums that it deems necessary to operate and carry out the District’s functions for the fiscal year, assess a tax upon each member municipality for its proportionate share of the sums so appropriated, and adopt a schedule designating when taxes are due and payable by the member municipalities.
(c) Apportionment of taxes. For the purposes of assessing taxes to the member municipalities for payment of bonded indebtedness or long-term indebtedness approved by the voters, the respective population of each municipality within the District shall be combined to form a total population for the District. Each municipality shall be assessed a pro rata share of the costs of bonded indebtedness or long-term indebtedness as determined by obtaining the percentage of the population that that municipality represents in the District. Assessments for all other expenses of the District shall be as determined by the Board of Supervisors.
(d) Initial budget and appropriation. Within 30 days after the initial organizational meeting, the Board of Supervisors shall prepare and adopt an operating budget for the remainder of the then fiscal year and shall appropriate monies and assess a tax upon each member municipality to obtain the monies thus appropriated. The initial appropriation shall not exceed $50,000.00 and shall be apportioned among the member municipalities in proportion to their pro rata share by obtaining the percentage of the population that that municipality represents in the District and as further adjusted by the good faith estimate by the Board of Supervisors of other factors as the Board deems relevant. Within 15 days after the initial budget and appropriations are adopted by the Board of Supervisors, the District Treasurer shall issue and present a warrant to the legislative body of each member municipality requiring that the amount of the tax be paid to him or her within 30 days. The legislative body of each member municipality shall draw an order on the municipal treasury for the amount of the tax, and the municipal treasurer shall pay to the District Treasurer the amount of the order within the time specified.