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<br />b. Budoet Committee. There shall be a permanent committee, known <br />as the Budget Committee, composed of the Secretary / Treasurer, a minimum of two (2) <br />members of the Board appointed by the President, and the Manager, which shall be <br />responsible for preparation of the annual budget of District and such other matters as <br />may be assigned to it by the President or the Board. <br /> <br />c. Budoet. On or before October 15th of each year, the Budget <br />Committee shall prepare and submit to the Board a proposed budget for the ensuing <br />fiscal year. If appropriate, such proposed budget shall be accompanied by a statement <br />which shall describe the important features of the budget plan and by a general <br />summary wherein shall be set forth the aggregate figures of the budget in such manner <br />as to show the balanced relations between the total proposed expenditures and the total <br />anticipated income or other means of financing the proposed budget for the ensuing <br />fiscal year, as contrasted with the corresponding figures for the last completed fiscal <br />year and the current fiscal year. As appropriate, it shall be supported by explanatory <br />schedules or statements classifying the expenditures contained therein by services, <br />subjects and funds. The anticipated income of District shall be classified according to <br />the nature of receipts. <br /> <br />d. Notice of Budoet. Upon receipt of such proposed budget, the <br />Board shall cause to be published a notice that the proposed budget is open for <br />inspection by the public at the business office; that the Board will consider the adoption <br />of the proposed budget on a certain date; and that any interested elector may inspect <br />the proposed budget and file or register any objections thereto at anytime prior to its <br />final adoption. Notice shall be posted or published in substantial compliance with <br />Section 29-1-106, C.R.S. <br /> <br />e. Adoption of Budoet. On the day set for consideration of such <br />proposed budget, the Board shall review the proposed budget and revise, alter, <br />increase or decrease the items as it deems necessary in view of the needs of District <br />and the probable income of District. The Board shall then adopt a budget setting forth <br />the expenditures to be made in the ensuing fiscal year. The Board shall provide for <br />sufficient revenues to finance budget expenditures with special consideration given to <br />the proposed ad valorem tax levy. <br /> <br />f. Assessments. On or before October 1 st, the Manager shall cause a <br />Public Notice of Assessments, for the following year, to be published in area <br />newspapers, informing the owners of property in the district that a description of the <br />assessments and the assessed property is available at the District's office. The Public <br />Notice will also inform the owners of property in the District that a hearing of any protest <br />to the assessments will be held at the next regular meeting of the Board, or at such <br />other time as the Board may deem appropriate. The Notice of Assessments will comply <br />with the requirements of C.RS. 937-45-127. <br /> <br />g. Levy and Collection of Taxes under Class A. Pursuant to the <br />schedule established in C.RS. 9 37-45-122, the Board shall certify to the Board of <br /> <br />Page 8 of 12 <br /> <br />Exhibit A <br />Resolution 2007 - 03 <br />Adopted May 17,2007 <br />