The fiscal year of the Town government shall begin on the first day of July and shall end on the last day of June of the next year. The fiscal year shall also constitute the budget and accounting year.
[Amended 11-7-2000]
A. 
Within three months after the beginning of each fiscal year, the Town Council by resolution shall arrange for an independent detailed audit of the books, accounts and other evidence of financial transactions of the Town and the School Department as of the close of the preceding fiscal year. This audit shall be conducted either by state auditors or by a certified public accountant holding a certificate from the state and having no personal interest in the financial transactions of the Town or the School Department, without regard to requirements for competitive bidding. Such examinations shall conform with generally accepted auditing standards and shall include all procedures necessary for the auditors to express an informed opinion of the financial practices and accounts. A copy of the audit report and management letter shall be filed with the Town Clerk and shall be a public record.
B. 
The School Department shall provide funds in its annual budget to cover the expense of its portion of the annual audit as determined by the auditor.
[1]
Editor’s Note: Former § C-26, Borrowing in anticipation of taxes, was repealed 6-12-2017 by Ord. No. 871.
[1]
Editor’s Note: Former § C-27, Issuance of bonds, was repealed 6-12-2017 by Ord. No. 871.
[Amended 11-7-2000]
Before the Town or School Department makes any purchase of or contracts for supplies, material or equipment, ample opportunity shall be given for competitive bidding under the provisions of state law and with such exceptions as the Town Council may prescribe by ordinance.
[Amended 11-7-2000]
No office, department or agency, during any budget year, shall expend or contract to expend any money or incur any liability, or enter into any contract which by its terms involves the expenditure of money, for any purpose, in excess of the amounts appropriated for that general classification of expenditures pursuant to this Charter. Any contract, verbal or written, made in violation of this Charter shall be null and void. Nothing in this section contained, however, shall prevent the making of contracts or the spending of money for capital improvements to be financed in whole or in part from the issuance of bonds, notes or the capital expenditure funds nor the making of contracts of lease or for services for a period exceeding the budget year in which such contract is made.
[Amended 11-7-2000]
A. 
The Town Council may at any time authorize the transfer of any unencumbered appropriation balance or portion thereof from one classification of expenditure to another within the same department, office or agency or board or commission, provided that the existence of the balance proposed to be transferred is certified in writing by the Town Treasurer.
B. 
All general fund appropriations except for those of the School Department and those for capital improvements shall lapse at the end of the budget year to the extent that they have not been expended or encumbered and the balance thereof shall revert to the general fund; provided, however, the Town Council may by resolution carry over any unexpended balance of any such general fund appropriation, or portion thereof, for one additional fiscal year for the purpose for which such general appropriation was originally passed.
All fees received because of the provisions of any state law or Town ordinance by any officer or employee shall belong to the Town and shall be paid to the Town Treasurer at such intervals as the Town Manager may require.
Property held by the Town for charitable uses shall be held, administered and disposed of in the name and on behalf of the Town by the body entrusted with its administration or, if none is specified, then by the Council, in accordance with the terms of the gift and the laws of the state with respect to property held in charitable trusts.
[Amended 11-3-1992; 11-2-2004; 11-2-2010; 6-12-2017 by Ord. No. 871]
The School Committee shall hold a public hearing on its proposed budget on or before April 1 of each year, and shall submit its budget to the Town Manager on or before April 15 of each year. All other Town departments shall submit their proposed budgets to the Town Manager on or before March 15 of each year. On or before March 15 of each year, the Town will notify residents by newspaper of general circulation, and by the Town website or other electronic means, that a copy of the proposed Town budget will be available for review at the Town Hall and on the Town website by May 1 of each year. The Town Manager shall transmit the Town budget to the Town Council on or before May 1 of each year. The Town Council shall hold a public hearing on the recommended budget on or before May 15 of each year. The Town Clerk shall prepare sufficient copies of the budget to be available for public distribution prior to the hearing.
[Amended 11-3-1992; 11-2-2004; 6-12-2017 by Ord. No. 871]
The Town Council may revise the budget as submitted by the Town Manager and shall adopt a budget on or before June 10 of each year. Any changes following the public hearing on the recommended budget will be highlighted in the adopted budget. A copy of the adopted budget will be available for review at the Town Hall and on the Town website. If the Town Council recommends an increase in the total expenditures as proposed by the Town Manager, it shall also provide for increasing the total anticipated revenues and shall indicate the revenues necessary to maintain a balance between revenues and expenditures. No revenue from any source other than the tax levy shall be included in the budget as recommended by the Town Council unless the facts clearly warrant the expectation that such amount actually will be realized in cash during the budget year.
[1]
Editor’s Note: Former § C-35, Electors not restricted, was repealed 6-12-2017 by Ord. No. 871.
[Amended 6-12-2017 by Ord. No. 871]
A copy of the budget, as finally adopted by the Town Council, shall be certified by the Town Clerk and filed in the office of the Town Treasurer. Sufficient copies of the budget shall be made available by the Town Clerk for the use of all offices, departments and agencies and for the use of interested persons.