During the last quarter of the Fiscal Year, or as soon thereafter as is practical, the general manager shall present a proposed budget for evaluation by the Board of Directors.
The board shall make such modification to the proposed budget as they deems necessary for the efficient operation of the Cooperative, provided the modification is consistent with sound business management and prudent utility business practices.
The approved budget may be adjusted each quarter to reflect any changes in budget categories and/or any changes in projected needs during the current budget year, as recommended by the General Manager or the Board of Directors. The monthly financial report shall show any revised budget categories.