Within the period prescribed by state statute,
the mayor shall submit to the town council a proposed budget for the
ensuing fiscal year which shall provide a complete financial plan
of all town funds and activities for the ensuing fiscal year, an accompanying
budget message, and supporting documents.
The message of the mayor shall explain the budget
for all town agencies both in fiscal terms and in terms of 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 fiscal 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 mayor deems desirable or the town council may
reasonably require.
(a)
Public Hearing -- The town council shall publish in
one or more newspapers of general circulation in the town the general
summary of the proposed budget as submitted by the mayor and a notice
stating: (1) the times and places where copies of the proposed budget
are available for inspection by the public, and (2) the date, time,
and place not less than two weeks after such publication, when a public
hearing on said proposed budget will be held by the town council.
(b)
Adoption of the Budget -- The town council shall adopt
the budget, with or without amendments, within forty-five days following
the day the budget is received by it. In amending the budget, it may
delete or decrease any programs or amounts except expenditures required
by law or for debt service. Except on recommendation of the mayor,
it shall not increase any amount in, or the total of, the proposed
budget.
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If the town council fails to take action with
respect to any item in the budget within forty-five days after receipt
of the budget, such amount shall, without any action by the town council,
become a part of the appropriations for the year and be available
for the purposes specified.
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(a)
Submission -- The mayor shall prepare and submit to
the town council a five-year capital improvement program at least
thirty days prior to the final date for submission of the operating
budget.
(b)
Contents -- The capital improvement program shall
include: (1) a clear summary of its contents; (2) a list of all capital
improvements proposed to be undertaken during the next five fiscal
years with supporting data; (3) cost estimates, method of financing
and recommended time schedules; (4) the estimated annual cost of operating
and maintaining the facilities included; and, (5) a listing of all
sources and amounts of revenue. The above information shall be revised
and extended each year.
(c)
Public Hearing -- The town council shall publish in
one or more newspapers of general circulation in the town the general
summary of the capital improvement program and a notice stating: (1)
the times and places where copies of the capital improvement program
are available for inspection by the public; and, (2) the date, time,
and place not less than two weeks after such publication, when a public
hearing on said program will be held by the town council.
(d)
Adoption -- After the public hearing, and on or before
the twentieth day of the last month of the current fiscal year, the
town council shall by resolution adopt the capital improvement program
with or without amendment, provided that each amendment must be voted
separately and that any increase in the capital improvement program
as submitted must clearly identify the method of financing proposed
to accomplish this increase.
