(a) The board shall hold a public hearing on the proposed annual budget.
(b) The board shall publish notice of the hearing in a newspaper with general circulation in the district not later than the 10th day before the date of the hearing.
(c) Any district resident 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 interests of the taxpayers.
(e) The budget is effective only after adoption by the board.