The budget is adopted by the Board at a public hearing, to which the public is invited and allowed to make comments on the budget. At least 60 days prior to the budget hearing, the Board will approve the initial budget in draft form, adopt a Resolution approving the budget and setting the public hearing, and provide a copy to Osceola County for review and comment. Once presented to the Board for their initial approval, the budget is available to the public upon request. The Board will discuss the budget at any interim meetings prior to the public hearing and can make changes to the budget up to the point when it is formally adopted by Resolution.
The two operative words in the budget process are “approve” and “adopt.” The Board is required to approve an initial budget in order to set the public hearing and to provide it to Osceola County. Only after a public hearing may the Board officially adopt its budget.
The budget for the Live Oak Lake CDD consists of the following budget elements:
- general fund budget (administrative expenses only since the District is in its initial stages and has no maintenance obligations at this time)