[HISTORY: Adopted by the City Council of the City of Franklin 5-5-1986 as Title One, Ch. VII of the 1986 Code. Amendments noted where applicable.]
In accordance with RSA 31:94-a, as amended, and other special legislation currently pending before the Legislature of the State of New Hampshire, the City of Franklin does hereby adopt this chapter to establish an optional fiscal year commencing the first day of July and terminating on the last day of June.
This chapter is adopted pursuant to § C-30 of the Charter, entitled "Fiscal and budget year." In the event of any conflict between this chapter or provision of the Franklin City Charter, that provision holding the city to the higher standard shall be controlling.
Upon the adoption of this chapter, the City Manager shall recommend to the City Council a proposed schedule for the submission of a six-month supplemental budget for the period of January 1, 1987, through June 30, 1987. The Council shall adopt such a schedule for budget review, public hearing and adoption. The supplemental budget described herein shall become effective upon receiving approval of 2/3 of the vote of the Franklin City Council.
During the eighteen-month transitional fiscal year, all applicable property tax exemptions shall be prorated over an eighteen-month accounting period pursuant to RSA 31:94-cc, and municipal debt shall be structured in accordance with RSA 31:94-d and 31:94-e.
Commencing July 1, 1987, the City of Franklin shall utilize a twelve-month fiscal year for all accounting purposes, such year commencing July 1 and terminating on the following June 30.
No later than the first Monday of April, the City Manager shall annually submit the proposed budget to the City Council for its review. A public hearing on the budget shall be held before its final adoption by the Council, at such time and place as the Council shall direct. Notice of such public hearing, together with the summary of the budget as submitted, shall be published at least one week in advance of the hearing by the City Clerk. The proposed annual City budget shall be in order for adoption by the City Council no later than the first Monday in June. On or before that date, the Council shall meet in open session and shall adopt the budget for the following fiscal year. The City Council may recess and reconvene its budget deliberations as it may deem necessary, but in no event shall such deliberations continue beyond July 27 of any given fiscal year. In the event that said deliberations do continue beyond that date without final action adopting a budget, then the budget proposed by the City Manager shall automatically become effective pursuant to § C-34 of the City Charter.
No appropriations shall be made for any purpose not included in the annual budget as adopted unless approved by a two-thirds majority of the City Council after a public hearing held to discuss such appropriations. The Council shall by resolution designate the source of any money so appropriated.
In the event that the special legislation referenced in § 24-1 above is not adopted by the New Hampshire Legislature during the 1986 regular legislative session, then the city shall still transfer to a fiscal year pursuant to RSA 31:94-a. However, the eighteen-month transition year shall be January 1, 1987, to June 30, 1988, and all other relevant dates shall be appropriately amended so that in all respects this chapter is in conformance with RSA 31:94-a.