Section 553.4 - Budget adoption by board(a) Annually, the board shall adopt an operating budget for the ensuing fiscal year. The budget shall reflect as nearly as possible the estimated revenues, including governmental operating subsidies and expenses of the authority for the fiscal year for which the budget is prepared. The total expenses shall not exceed the revenues estimated as available for the fiscal year.(b) The board may at any time make supplemental appropriations or revisions of the budget for any lawful purpose from funds on hand or estimated to be received within the fiscal year and not otherwise appropriated, or from funds received in excess of projections.(c) Where the governmental operating subsidies received during the year are less than anticipated in the operating budget adopted by the board, the board shall adjust the level of total expenditures so that total expenditures do not exceed the revised level of anticipated revenues.1955, April 6, P.L. 1414, No. 465, §3.4, added 1986 , July 2, P.L. 309, No. 76, § 1, imd. effective.