48-1308. Financial report and budget A. The board shall issue an annual financial report showing the receipts and expenditures of all monies and the district's assets and liabilities at the end of the fiscal year. B. The board shall prepare an annual budget of proposed revenues and expenditures at least sixty days before the beginning of the fiscal year. C. The board may choose to deposit district monies with the council to be spent at the board's direction.
Arizona Legal Code