1. Establish uniform and sound fiscal procedures for the preparation, adoption, execution and control of budgets;

2. Enable districts to make financial plans for both current and capital expenditures and to ensure that their directors administer their respective functions in accordance with adopted budgets;

3. Make available to the public and investors sufficient information regarding the financial conditions, requirements and expectations of the district; and

4. Assist districts in improving and implementing generally accepted accounting principles as applied to governmental accounting, auditing and financial reporting and standards of governmental finance management.