Modifies provisions governing annual budgets of political subdivisions

This bill updates the rules for how local government units, such as cities and counties, must create their yearly financial plans. It requires these entities to prepare a comprehensive budget that details expected income, planned spending for each department, and debt payments, along with comparisons to previous years. The legislation also establishes a specific timeline, mandating that the budget officer submit the proposed plan and necessary legal documents to the governing body at least seven days before a vote. Additionally, the bill clarifies that total spending from any fund cannot exceed the estimated revenue plus any available cash balance, while ensuring all staff cooperate with the budget officer in the process.