Each year, by August 30, the board of trustees must approve a final budget that adheres to specific accounting and budgeting rules for special districts. This budget can include categories like maintenance, employee pay, debt services, various types of reserves, and a general reserve. After finalizing the budget, the trustees must send a copy to the auditor of each county where the district operates.

This law section explains that the board of trustees can set up special savings in their annual budget called restricted reserves. These reserves are for specific purposes they must declare. Money in these reserves can only be spent on those specified purposes.

The board can add more money to these reserves anytime. If they decide the money is not needed for its original purpose, the board can either end the reserve or move the money to the general fund, but this requires a four-fifths vote.

Each year by July 1, a board of trustees must decide and document the maximum amount of money they can officially spend for the next fiscal year. This is followed to comply with certain financial rules under the California Constitution.

An exception exists for districts that were around on January 1, 1978. If in the 1977-78 fiscal year, they didn't charge property taxes over 12.5 cents per $100 of assessed value, this rule doesn't apply to them.

This law states that the county auditor is responsible for giving each district its portion of property tax revenue according to specific rules in the Revenue and Taxation Code.

This section outlines the ways a district in California can manage its financial resources. Firstly, a district can accept grants, money, services, or property from various levels of government or private sources for any lawful purpose related to the district's operations. Secondly, all money collected by a district should be deposited into a specific fund in the county treasury by the 10th of the month after it's received, unless Section 9077 provides otherwise. Lastly, the district is allowed to borrow money and take on debt as specified by certain parts of the Government Code.

If you're trying to get money or compensation from a district, you need to follow specific rules found in another part of the law. This includes Parts 3 and 4 starting at Sections 900 and 940 in Division 3.6 of the Government Code.

This law outlines how claims against a district are handled. The board of trustees typically reviews and approves claims before they're paid, issuing warrants (essentially payment orders) to the county treasurer. Alternatively, the board can have the county treasurer manage the entire process. Warrants are paid in the order they're received. If there isn't enough money in the account, the treasurer marks the warrant as unpaid due to insufficient funds. Until paid, the warrant will accrue interest at a specific rate.

This law allows a district with annual revenues over $500,000 to manage its own funds instead of relying on the county treasurer, provided certain conditions are met. The district's board of trustees must pass a resolution stating this intent and set up a process to appoint a district treasurer. They must establish accounting and auditing systems, determine necessary financial procedures, and select a place to deposit the funds. They must also comply with certain government code sections. Furthermore, the treasurer must regularly report the financial status to the board.

This law allows a district to create a special temporary fund for handling small financial transactions or expenses, known as a revolving fund. There are limits on how much money can be in this fund. If the fund is just for making change or handling small bills, it can't be more than $1,000. If it's for paying any district-approved expenditures, the fund can be up to 110% of one-twelfth of the district's annual budget.

This law section says that the board of trustees must regularly audit the financial records and accounts of the district, including an endowment care fund, as specified by another law. They also have to submit an annual financial report to the Controller, following specific government code instructions.