§ A5-5. [Fiscal year; budget.]

The annual fiscal year for the operation of said district shall run from October 1 of each year to September 30 of the following year. The district board on or before July 1 of each year shall hold a public hearing and adopt a budget setting forth the amounts necessary for the costs and expenses of furnishing the municipal services authorized by this law, including the maintenance and upkeep of the roads and facilities as authorized by this law, which budget shall serve as a basis for the annual levying of the special ad valorem tax herein provided for. All funds received from said special ad valorem taxes and from all other sources shall be deposited in a special fund by the treasurer of the district and shall only be expended pursuant to said budget and pursuant to the laws of Florida regulating county budgets and the expenditure of county funds.

(Laws of Fla., Ch. 69-1298, § 5)