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<br /> 6. Bud~et• <br /> (a) Fiscal Year. The District shall operate under a fiscal year (July 1 -June 30). A <br /> proposed Budget shall set forth the total amount proposed to be expended for such fiscal <br /> year. <br /> (b) Budget for the First Fiscal Year. The proposed Budget for the first fiscal year is as <br /> follows. The Board shall, as soon as reasonably practicable after the commencement of <br /> the term of the District, adopt the actual Budget for the first fiscal year, which shall not <br /> exceed the proposed Budget set forth below: <br /> REVENUES <br /> Assessments $780,000 <br /> Total Revenues $780,000 <br /> EXPENSES <br /> Supplemental Services & Improvements <br /> Public Space Management/Security $422,400 <br /> Streetscape Cleaning & Maintenance $281,600 <br /> Operating Support $ 76,000 <br /> Incidental Expenses <br /> Administration <br /> Legal <br /> Accounting <br /> Management <br /> Office <br /> Office Equipment <br /> Office Supplies/Services <br /> Insurance <br /> Total Expenses $780,000 <br /> c) Subsequent Fiscal Year Budgets. The District Board shall, at least sixty (60) days prior <br /> to the beginning of each fiscal year (other than the first fiscal year) adopt a budget. Each <br /> budget shall: <br /> i) reasonably itemize the purposes for which monies are proposed to be expended <br /> by the District Association; <br /> ii) specify the amount, if any, proposed to be expended by the District Association <br /> for debt service, if any; and <br /> iii) set forth the total amount proposed to be expended. <br /> 4 <br /> F,XHiAiT "A" <br /> <br />