The following terms, when used in this chapter, shall have the
meanings ascribed to them in this section, except where the context
clearly indicates a different meaning:
BUDGET ACCOUNT NUMBER
Refers to the numerical code assigned to each element of
Town government to identify that element's approved portion of
the total budget, as well as to indicate the general accounting category
for expenditures charges during the fiscal year.
BUDGET SUBACCOUNT NUMBER
Refers to the numerical code assigned to each subcategory
of each budget account to identify categorically the budget amount
applicable to that subaccount, as well as to indicate the general
accounting subcategory for expenditures charges during the fiscal
year.
This chapter is adopted for the purpose of establishing a financial
management system for the documentation and control of the approved
Town budgets on an account and subaccount basis.
The Town Manager shall receive from the head of each department and agency, including the School Committee, an estimate of the amount necessary to carry on its work during the coming fiscal year. School Committee estimates, shall be provided to the Town Manager, no later than the third Monday in February. These estimates, accompanied by a message from the Town Manager, shall be submitted to the Budget and Financial Review Board on or before March 1, which Board shall then prepare its budget recommendations (including an estimated tax rate) for submission to the Town Council. In preparing its budget recommendations, the Budget and Financial Review Board shall investigate the recommendations of the various department budget requests, including the School Committee, and may request that the head of any of said departments explain their estimates and recommendations. The Budget and Financial Review Board shall confer with the Town Council and shall hold one or more public hearings in preparing the budget, the first of which shall be held at least three weeks after receipt of the budget from the Town Manager. The public hearings for the proposed municipal and school budgets shall be advertised by the Town Clerk at least once in each of the two weeks preceding the hearings in two newspapers of general circulation either daily or weekly which serve the Town of Smithfield, as well as the Town's website. The advertisement shall provide a general summary of the budget and the times and place where copies of the budget and budget message are available for public inspection. See Town Charter §
C-5.03.
The Town Manager's message shall explain the budget both in fiscal terms and in terms of the work programs. It shall outline the proposed financial policies of the Town for the ensuing fiscal year, describe the important features of the budget, indicate any major changes from the current year in financial policies, expenditures, and revenues together with the reasons for such changes, summarize the Town's debt position and include such other material as the Town Manager deems desirable. See Town Charter §
C-5.04.
The Budget and Financial Review Board shall submit its printed report comprising the budget and budget message to the Town Council no later than May 15. See Town Charter §
C-5.06.
Subsequent to the submission of the budget by the Budget and Financial Review Board, the Town Council shall hold a public hearing on the proposed budget and decide whether to make any changes prior to final adoption by the Town Council. Changes to the proposed budget may include the addition or deletion of programs and/or increases or decreases in program funding, except for expenditures required by law or for debt service or for an estimated cash deficit. No change to the proposed budget shall increase the authorized expenditures to an amount greater than total estimated income, less any required reserve. See Town Charter §
C-5.07.
To implement the adopted budget, the Town Council shall adopt,
prior to the beginning of the ensuing fiscal year:
A. An appropriation resolution making appropriations by department or
major organizational unit and authorizing a single appropriation for
each program or activity;
B. A tax levy resolution authorizing the property tax levy or levies
and setting the tax rate or rates; and
C. Any other resolutions required to authorize new revenues or to amend
the rates or other features of existing taxes or other revenue sources.
Every appropriation, except an appropriation for a capital expenditure, shall lapse at the close of the fiscal year to the extent that it has not been expended or encumbered. An appropriation for a capital expenditure shall continue in force until expended, revised or repealed; the purpose of any such appropriation shall be deemed abandoned if three years pass without any disbursement from or encumbrance of the appropriation. See Town Charter §
C-5.11.
The Town Council shall provide by resolution the procedures for administering the budget. See Town Charter §
C-5.12.