(a) Unless otherwise provided in a management agreement, the district administrator shall prepare an annual budget for approval by the board.
(b) The proposed budget must contain a complete financial statement of:
(1) the outstanding obligations of the district;
(2) the cash on hand in each district fund;
(3) the money received by the district from all sources during the previous year;
(4) the money available to the district from all sources during the ensuing year;
(5) the balances expected at the end of the year in which the budget is being prepared;
(6) the estimated revenue and balances available to cover the proposed budget;
(7) the estimated ad valorem tax rate required; and
(8) the proposed expenditures and disbursements and the estimated receipts and collections for the following fiscal year.
(c) The board shall provide in each annual budget for the payment of all operation and maintenance expenses of the district.
(d) In preparing the budget, the board may consider the estimated excess revenue and income from hospital facilities available for paying the operation and maintenance expenses after providing for the payment of revenue bonds issued by the district.