(a)
On or before August 30 of each year, the board of trustees shall adopt a final budget, which shall conform to the accounting and budgeting procedures for special districts contained in Subchapter 3 (commencing with Section 1031.1) of, and Article 1 (commencing with Section 1121) of Subchapter 4 of Division 2 of Title 2 of the California Code of Regulations.
(b)
The board of trustees may divide the annual budget into categories, including, but not limited to:
(1)
Maintenance and operation.
(2)
Employee compensation.
(3)
Interest and redemption for indebtedness.
(4)
Restricted reserves for the following categories:
(A)
Endowment income fund.
(B)
Capital outlay.
(C)
Pre-need.
(D)
Contingencies.
(5)
Unallocated general reserve.
(c)
The board of trustees shall forward a copy of the final budget to the auditor of each county in which the district is located.