[Amended 11-2-2004]
The Finance Director or his/her designee shall:
a.Â
Prescribe, subject to the direction of the Town Manager,
the forms of receipts, vouchers, bills or claims to be used by all
the officers, departments and agencies of the Town government.
b.Â
Examine all contracts, purchase orders and other documents
by which the Town government incurs financial obligations and, having
previously ascertained that moneys have been appropriated and allotted
and will be available when the obligations shall become due and payable,
approve the same.
c.Â
Audit and approve before payment all bills, invoices,
payrolls and other evidences of claims, demands or charges against
the Town government and determine the regularity and correctness of
the same.
d.Â
Inspect and audit any accounts or records of financial
transactions which may be maintained in any office, department or
agency of the Town government apart from or subsidiary to the accounts
kept in the Department of Finance office.
[Amended 11-4-2014]
From the beginning of the budget year and after
the annual Financial Town Meeting, the head of each office, department
and agency shall submit to the Town Manager a budget for the year
consistent with appropriations made by the Financial Town Meeting.
The Town Manager shall review the requested items within any such
budgets and may revise, alter or change such budgets, in a manner
consistent with appropriations made by the Financial Town Meeting
before approving the same. The aggregate of the items within any such
budget shall not exceed the total appropriations available to the
office, department or agency for the budget year.
[Amended 11-2-2004; 11-4-2014]
The Finance Director shall authorize all expenditures
for the offices, departments and agencies to be made from the appropriations
on the basis of approved budgets and not otherwise. An approved budget
may be revised during the budget year in the same manner as the original
budget was made. If at any time during the budget year, the Town Manager
shall ascertain that the remaining unexpended balance of appropriations
for the year will be insufficient to cover the proposed budget, the
Manager shall reconsider the budgets of the several offices, departments
and agencies and revise the same, other than the budget of the school
department, so as to forestall the making of expenditures in excess
of appropriations. Additionally, during the fiscal year, the Town
Council may, at the recommendation of the Town Manager allocate any
projected surplus unexpended balance in the budget of any office,
department, or agency that has a projected surplus to the budget of
any other office, department, or agency that has a projected shortfall.
If at any time during the budget year, the Finance Director shall
ascertain that the remaining unexpended balance of appropriations
of the school department for the year will be insufficient to cover
proposed budget for the school department, the Finance Director shall
advise the school department to reconsider its budget and to revise
the same so as to forestall the making by it of expenditures in excess
of appropriation.
Except as hereinafter specifically provided, any unexpended appropriations remaining in a budget of any agency, office or department at the end of the fiscal year shall become part of the general working capital of the Town, and may not thereafter be expended without the approval of the Financial Town Meeting. For purposes of this section the term "general working capital" shall mean the aggregate amount of all unappropriated revenue and unspent or unencumbered appropriations not otherwise set aside pursuant to the provisions of Section 6-2-5 hereof. Amounts contained in the general working capital fund may be expended in anticipation of the receipt of taxes and other revenues; provided, however, that at the end of any fiscal year the balance in the working capital fund shall be no less than the balance at the close of the preceding fiscal year together with all additions thereto and interest which shall have been earned thereon, reduced by approved appropriations therefrom for such fiscal year.
[Amended 11-4-2014]
Except as otherwise may be specifically provided
in the enabling legislation authorizing the borrowing of money by
the Town, the Financial Town Meeting may, by resolution which has
been publicly noticed in the warrant for such meeting, establish special
capital reserve accounts for the specific purposes contained in the
resolution to be comprised of the proceeds of any borrowings for construction
or acquisition of any facilities or equipment which remain unexpended
at the conclusion of such construction or acquisition, or funds from
current appropriations. Upon adoption of such resolution the funds
set aside in each such account shall be considered a capital reserve
account. To the extent any sums deposited in such account are from
the current year's appropriations, the amount so deposited within
any fiscal year shall be considered an expenditure of the general
fund within that fiscal year. The moneys contained in any such reserve
account may, however, be used as working capital in anticipation of
taxes or other revenues; provided, however, that at the close of any
fiscal year the balance in each such account shall be no less than
the balance at the close of the preceding fiscal year together with
all additions thereto during such fiscal year, and all interest which
shall have been earned reduced by all expenditures made therefrom.
The Town Council may authorize expenditures from each such reserve
capital account for the purposes and on the conditions contained in
the resolution establishing such account. The Town Council may adopt
such other rules and regulations pertaining to the administration
of such accounts as shall be consistent with the provisions hereof.
