(a) Fiscal year. The fiscal year of the Authority shall be from July 1 to June 30.
(b) Capital budget and program. An improvement or extension of an existing project may not be undertaken unless approved in the Authority's capital budget and program. The capital budget and program shall include all capital projects and programs of the Authority, including substantial improvements and extensions of projects previously authorized.
(c) Coverage of capital budget and program. The capital budget and program shall cover six fiscal years and shall:
(1) include a statement of the objectives of the capital program and relationship of the program to the County's adopted long-range development plans as provided in § 18-2-103 of this Code;
(2) present a capital projects schedule and a construction schedule; and
(3) provide an estimate of costs and a statement of all funding sources.
(d) Submission. No later than April 1 before the beginning of a fiscal year, the Authority shall submit a copy of the proposed operating budget and capital budget and program for one fiscal year to the County Executive and the County Council. No later than May 1 before the beginning of a fiscal year, the Authority shall hold one or more public hearings on the proposed operating budget and capital budget and program. No later than June 15 before the beginning of a fiscal year, the Authority shall adopt the operating budget and capital budget and program and forward the adopted budgets to the County Executive and County Council.
(e) Amendments. The Authority may amend its capital budget and program during a fiscal year, effective 30 days after submission of the amendment by the Authority to the County Executive and the County Council.
(1985 Code, Art. 2, § 12-211) (Bill No. 115-97)