(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.