(a) The board shall hold a public hearing on the proposed annual budget.
(b) At least 10 days before the date of the hearing, the board shall publish notice of the hearing in a newspaper of general circulation in the district.
(c) Any resident of the district is entitled to be present and participate at the hearing.
(d) At the conclusion of the hearing, the board shall adopt a budget by acting on the budget proposed by the district administrator. The board may make any changes in the proposed budget that the board judges to be in the interest of the district's residents and that the law warrants.
(e) The budget is effective only after adoption by the board.