Section 6116-B - Operating budget(a) At least ninety (90) days before commencement of the ensuing fiscal year of the district, the board shall cause to be prepared and submitted to it a recommended operating budget. The operating budget shall set forth the estimated receipts and revenues of the district during the next fiscal year. The board shall, at least thirty (30) days before the end of the fiscal year, adopt, by a majority vote of its members, an operating budget for the next fiscal year. An annual funding agreement shall be executed with each regional asset allocated funds pursuant to the operating budget.(b) The board shall conduct public hearings and meetings regarding the operating budget requests of regional assets and the proposed annual operating budget of the district.1953, July 28, P.L. 723, No. 230, art. XXXI-B, § 3116-B, added 1993, Dec. 22, P.L. 529, No. 77, § 2, effective in 60 days.