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REFERENCE TITLE: stadium districts; budget; technical correction |
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State of Arizona House of Representatives Fifty-fourth Legislature First Regular Session 2019
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HB 2288 |
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Introduced by Representative Thorpe
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AN ACT
amending section 48-4232, arizona revised statutes; relating to stadium districts.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 48-4232, Arizona Revised Statutes, is amended to read:
48-4232. Annual budget
A. Not later than June 30 of each year the board of directors shall hold a public hearing to adopt and submit to the clerk of the county board of supervisors a budget for the following fiscal year which shall include that includes:
1. Receipts during the past fiscal year.
2. Expenditures during the past fiscal year.
3. Estimates of amounts necessary for expenses during the following fiscal year including amounts proposed for:
(a) Costs of maintaining, operating and managing the stadium.
(b) Promotional and marketing expenses of the district for the following year.
4. Anticipated revenue to the district 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.
B. The board of directors may amend the budget on a finding of good cause.