The board of trustees shall:
A. be the governing authority of the special hospital district;
B. comply with the provisions of law for local governments pertaining to the preparation and approval of budgets by the local government division of the department of finance and administration;
C. comply with the provisions of law pertaining to the audit of local governments by the state auditor; and
D. adopt rules and regulations for the management and operation of hospital facilities of the special hospital district.