(a) The board of directors of the regional career technical center school district shall at each annual meeting present an estimate of the expenses for the ensuing year, and the district shall appropriate that sum that it deems necessary for the expenses, together with the amount required to pay any balance left unpaid from the preceding year, expressing the sum in dollars in its vote. If a budget for the operation of the district is not approved, a subsequent meeting or meetings shall be warned.

(b) If a budget has not been approved on or before June 30 of any year, the school board may borrow funds pursuant to the authority granted under section 566 of this title.

(c) Following adoption of a budget, the board shall calculate each member district's share pursuant to section 1552 of this title. Upon receipt of the notice of the amount, the share shall become a legal obligation of the member district without need for further vote of the member district electorate and shall be included in the member district's education spending amount. (Added 2005, No. 130 (Adj. Sess.), § 1; amended 2013, No. 92 (Adj. Sess.), § 302, eff. Feb. 14, 2014.)