The fiscal year of the Town shall start on July 1 and terminate on June 30 of the succeeding year.
[Amended 12-16-2019]
All departments, offices, agencies, boards, commissions, committees and authorities shall submit to the Director of Finance and the First Selectman, at such time and in such manner as the First Selectman prescribes, but no later than January 2 of each year, an estimate of proposed revenue and expenditures relating to their respective departments, offices and public bodies for the fiscal year to commence the following July 1. The Board of Education shall submit to the First Selectman and Director of Finance its proposed budget no later than January 23 of each year.
The budget as proposed by the First Selectman shall consist of:
1. 
An expense budget for all Town expenditures, including expenditures of the Board of Education.
2. 
A capital expense budget.
3. 
A financial plan for the fiscal year.
4. 
An explanation by the First Selectman of the proposed budget and the fiscal policy proposed by the First Selectman.
5. 
Recommendations of the First Selectman concerning all proposed Town expenditures and capital projects.
The budget as proposed by the First Selectman shall be delivered to the Town Council not later than February 8 of each year.
[Amended 1-14-2019]
The Town Council, except as otherwise provided by this Charter, has such powers and duties relating to the Town budget and the Board of Education budget as are set forth in the Connecticut General Statutes. The Council shall review the Town budget and shall make such revisions as it deems desirable consistent with the welfare and the resources of the Town. During its review of the budget, the Council shall hold one public hearing, at which time any elector or taxpayer may have an opportunity to be heard regarding the Town budget as proposed by the First Selectman. Not later than March 15 of each year, the Council shall forward the budget as proposed by the Town Council to the Board of Finance.
[Amended 1-14-2019]
The Board of Finance, except as otherwise provided by this Charter, has such powers and duties relating to the Town budget and the Board of Education budget as set forth in the Connecticut General Statutes for boards of finance. Upon receipt of the budget as proposed by the Town Council, the Board of Finance shall review the same and shall make such revisions as it deems desirable consistent with the welfare and resources of the Town. During its review process of the budget, the Board of Finance shall hold one public hearing, at which such time the electors and taxpayers of the Town shall have an opportunity to be heard regarding the budget as proposed by the Town Council. After such meetings and hearings, the Board shall prepare its final proposed annual budget and shall deliver the same to the First Selectman not later than April 20 of each year.
[Amended 1-14-2019]
The First Selectman shall, upon receipt of the budget as proposed by the Board of Finance, prepare the final proposed annual Town budget to be submitted to the annual budget referendum. The First Selectman shall cause to be published in a newspaper having a general circulation in the Town of Monroe a summary of the final proposed annual budget at least five days prior to the date of the annual budget referendum.
The Town Clerk shall place notice of the annual budget referendum in a newspaper having a substantial circulation in the Town of Monroe at least five days before the date of the referendum. The ballots shall be prepared by the Town Clerk, and the question shall be worded in accordance with the requirement of § 9-369, Connecticut General Statutes.
In addition to the vote on the proposed budget, the budget referendum may also contain nonbinding advisory questions as to whether or not the proposed budget is too high or too low, in accordance with Connecticut General Statutes.
The annual budget referendum shall be held on the first Tuesday in May of each year. Copies of the final proposed annual budget shall be made available to the public at the Town Library and the Town Clerk's office at least five days prior to the date of the annual budget referendum. The annual Town budget shall be deemed approved and shall become effective when approved by a majority of those voting at the annual budget referendum. Not later than seven days after approval by the annual budget referendum, the Board of Finance shall file a copy of the approved annual Town budget in the office of the Town Clerk. Within 10 days after such budget approval, the Board of Finance shall determine and fix the tax rate in mills for the ensuing fiscal year in accordance with the budget approved in the referendum.
In the event that the proposed annual Town budget is rejected at the annual budget referendum, the proposed budget shall be reviewed by the First Selectman, who shall meet with and receive input from all elected officials of the Board of Finance, the Town Council and the Board of Education. All revisions shall be decided by the First Selectman. The First Selectman shall thereupon call for a second annual budget referendum to be held two weeks from the date of the first annual budget referendum. Notice of each succeeding annual budget referendum shall be published in a newspaper having a general circulation in the Town not less than five days prior to the date of each referendum. Copies of the revised annual budget as proposed by the First Selectman shall be made available to the public at the Town Library and the Town Clerk's office at least five days prior to the date of such referendum.
In the event that the second annual budget referendum rejects the proposed budget, third and succeeding budget referenda shall be held two weeks following the date of the previous referendum, and shall be held in accordance with the procedures outlined for the second annual budget referendum as aforesaid, until such time as an annual budget of the Town is approved by budget referendum. If the budget remains unaccepted at the start of the fiscal year, the previous mill rate will continue to prevail until such time as the budget is accepted. The Board of Finance may direct the Tax Collector to mail out tax bills reflecting the old mill rate until the budget has been approved. Once the budget is approved, a supplemental tax bill may be mailed to reflect the new mill rate, if necessary. The Council may prescribe the hours of voting in a budget referendum.
(a) 
The several offices, agencies, boards, commissions and authorities of the Town shall not involve the Town in any obligation to spend money for any purpose in excess of the amount appropriated therefor in the approved annual budget, except as provided elsewhere.
(b) 
No purchases shall be made by any office, agency, board or commission of the Town, other than the Board of Education, except through the First Selectman.
Requests from the several offices, agencies, boards or commissions for goods or services needed for the discharge of their responsibilities or duties will be honored by the First Selectman upon request unless the First Selectman provides alternative(s) to meet such needs for goods or services.
(c) 
Each order drawn upon the Treasurer shall state the office, agency, board or commission and the appropriation against which it is to be charged.
(d) 
No voucher, claim or charge against the Town shall be paid until the same has been approved by the First Selectman and audited by the Director of Finance.
(e) 
Except as otherwise provided, checks shall be drawn by the First Selectman for the payment of approved claims and shall be valid only when countersigned by the Treasurer. The Treasurer may draw checks for investment disbursement and disbursements required for employee payroll deductions, including but not limited to social security withholding, pension funds, and hospitalization or medical insurance. The Chairman of the Council is authorized to act in the absence or inability to act of either but not both the First Selectman and the Treasurer.
(f) 
When any office, agency, board or commission, except the Board of Education, shall desire to secure a transfer of funds in its appropriation from funds set apart for one specific purpose to another, the First Selectman may make application to the Council which may approve the transfer.
(g) 
Upon request of the First Selectman, the Board of Finance may transfer any unencumbered appropriation, balance or portion thereof from one office, agency, board or commission to another within the fiscal year after notice by the First Selectman to the affected office or agency, board or commission. No transfer shall be made from any appropriations for debt service or other statutory charges.
(h) 
Any portion of an annual appropriation remaining unexpended and unencumbered at the close of the fiscal year shall lapse, except for the capital or nonrecurring expenditure fund and other such specifically allocated reserve funds. Appropriations for capital construction or other permanent improvements shall not lapse until the purpose for which the appropriation was made shall have been accomplished or abandoned. A project shall be deemed to have been abandoned if three fiscal years shall lapse without any expenditure from or encumbrance of the appropriation therefor.
(i) 
The Board of Finance shall provide a contingency fund not to exceed 1/2 of one mill of the grand list within the annual budget to cover unexpected conditions or requirements. Except as otherwise provided in this Charter, additional expense appropriations over and above the total amount of the approved annual budget shall not be made, except from the contingency fund. Appropriations from the contingency fund shall be approved by the First Selectman, the Council, and the Board of Finance.
The Town shall make no contributions to any organization or private corporation unless so authorized by Connecticut General Statutes. With the exception of the volunteer fire departments, no such contribution of more than $500 shall be made to any such organization or corporation unless the Town is represented on its board by one or more members nominated thereto by the First Selectman and approved by the Council.