The fiscal year of the Town shall be as required
by the General Laws.
[Amended 10-21-2019 FATM, Art. 19]
On or before the first Monday in February of
each year, the Town Administrator and the School Committee shall submit
to the Select Board, and file with the Finance Committee, proposed
budgets for the fiscal year. The Town Administrator's budget shall
be accompanied by his/her budget message and supporting documents.
[Amended 10-21-2019 FATM, Art. 19]
The message of the Town Administrator shall
explain the budget for all town agencies, both in fiscal terms and
in terms of work programs. It shall outline proposed financial policies
of the Town for the ensuing fiscal year, describe important features
of the budget, indicate any major variations from the current year
in financial policies, expenditures and revenues together with the
reasons for such chances, summarize the Town's debt position and include
other material as the Town Administrator deems desirable, or as the
Select Board members may require.
[Amended 10-21-2019 FATM, Art. 19]
The budget shall provide a complete financial
plan for all Town funds and activities, including the budget adopted
by the School Committee for the ensuing year. Except as may be required
by statute or by this Charter, the School Committee budget shall conform
with the general format of the Town Administrator's budget which shall
be in the form which the Town Administrator deems desirable or as
the Select Board and the Finance Committee may require. In his/her
presentation of the budget, the Town Administrator shall utilize modern
concepts of fiscal presentation so as to furnish maximum information
and the best financial control. The budget shall show in detail all
estimated income from the proposed property tax levy and other sources,
and all proposed expenditures including debt service for the following
year. The budget shall be arranged to show the actual and estimated
income and expenditures for the previous, current and ensuing fiscal
years and shall indicate in separate sections:
(A) Proposed expenditures for current operations during
the ensuing fiscal year, detailed by town agency and position in terms
of work programs, and the method of financing such expenditures;
(B) Proposed capital expenditures during the ensuing fiscal
year, detailed by town agency, and the proposed method of financing
each such capital expenditure; and,
(C) Estimated surplus revenue and free cash at the end
of the current fiscal year, including estimated balances in any special
accounts established for specific purposes.
The Finance Committee shall hold one or more
public hearings on the proposed budget not less than three (3) days
prior to the session of the Town Meeting at which it is to be submitted
for adoption.
Warrant articles as adopted by the Representative
Town Meeting shall be made available at the office of the Town Clerk
for examination by the public by the fifth day after their adoption.
This provision shall not affect the availability of the annual Town
Report, the Town Warrant or the report of the Finance Committee.
[Amended 10-21-2019 FATM, Art. 19]
Weekly warrants for the payment of town funds
prepared by the Town Accountant in accordance with the provisions
of the General Laws shall be submitted to the Select Board. The approval
of such warrants by the Select Board shall authorize payment with
town funds. Warrants for the payment of School Department vouchers
and payroll shall also require the signatures of the majority of the
School Committee members.
[Amended 10-21-2019 FATM, Art. 19]
The Town Accountant shall prepare and file all
annual and other financial statements or reports as prescribed by
State Statute, and promptly, each month and annually, shall submit
to the Select Board and Finance Committee, financial statements for
all funds consisting of, but not limited to, a balance sheet, statement
of estimated and actual revenues, statements of estimated and actual
expenditures, statements of cash receipts, disbursements and balances,
forecast of cash position and statement of changes in fund balances.
The financial statements shall be prepared so as to provide a full
disclosure of financial position and operating results in accordance
with generally accepted accounting principles applicable to the Town
and shall include, but not be limited to, balanced fund groups for
the General Fund, debt service funds, trust and agency funds, and
special assessment funds.
[Amended 10-19-2015 FATM,
Art. 12; 6-4-2016 Town Election; 10-21-2019 FATM, Art. 19]
The Finance Director shall have and exercise all powers and
duties of the Town Treasurer and Tax Collector or the Town Accountant,
but not both, as those terms are defined under the Constitution and
General Laws of the Commonwealth. The Finance Director shall ensure
compliance with all appropriate statutes and be responsible for overall
management of the town's investment portfolio. In addition, the Finance
Director shall effect collection of all accounts due town, direct
the Town's financial operations, including the duties of Town Accountant,
assist the Town Administrator in the preparation of the Annual Budget,
and report periodically on the financial status of the Town to the
Select Board.