(a) The authority shall adopt a budget for each fiscal year, shall maintain accounts, and shall cause an annual audit, or other oversight in accordance with rules applicable to special districts under W.S. 9-1-507(a)(iii), to be made pertaining to the fiscal affairs of the authority. Administrative review of the proposed budget shall be in accordance with the policies of each municipality, prior to submission of the proposed budget to the governing body for approval.
(b) The operations of the authority shall be principally financed from the following sources and such other sources as may be approved by the governing body:
(i) Donations to the authority;
(ii) Monies borrowed and to be repaid from other funds received under the authority of this article.