The fiscal year shall begin on the first day
of July and shall end on the thirtieth (30th) day of June each year.
Such fiscal year shall also constitute the budget and accounting year.
As used in this Charter, the term "budget year" shall mean the fiscal
year for which any particular budget is adopted and in which it is
administered.
[Amended 11-3-2020]
The Manager shall submit to the Town Council, and the Committee on Appropriations, not later than the second Monday in March, a proposed budget of receipts and operating and capital expenditures and an explanatory budget message together with a summary of the balances of each capital reserve account and a summary of the actual and anticipated additions to and expenditures from each such account for the current fiscal year. For such purpose, the Manager shall obtain from the head of each office, department and agency estimates of its revenues and expenditures and such supporting data as the Manager may request. In preparing the proposed budget, the Manager shall review the estimates and may revise them as the Manager may deem advisable. The proposed budget as prepared by the Manager shall show all anticipated revenue and all proposed expenditures including capital expenditures, and the total of proposed expenditures shall not be greater than the total of anticipated revenues. The Manager's proposed budget shall include the School Committee Budget as set forth in Section
6-4-4; however, such budget shall not be subject to the Manager's review.
The Council may revise the budget as submitted
by the Manager, except for the gross school revenues and expenditures,
and shall adopt a recommended budget which it shall present to the
Committee on Appropriations not later than sixty days preceding the
date of the Financial Town Meeting. If the Council shall recommend
an increase in the total of expenditures as proposed by the Manager,
it also shall provide for increasing the total anticipated revenues
and shall indicate the revenues necessary to maintain a balance between
revenues and expenditures. The Council shall submit such other relevant
data as the Committee on Appropriations may prescribe.
[Amended 11-4-2014]
The School Committee shall submit to the Committee
on Appropriations, not later than the first Monday in March, its proposed
budget of receipts and operating and capital expenditures and an explanatory
budget message. The School Committee shall submit such other relevant
data as the Committee on Appropriations may prescribe.
The Committee on Appropriations shall review the detailed budgets of the Council and School Committee and shall meet with those bodies and/or with the Town Manager and the School Superintendent as often as is necessary to develop a recommended consolidated tentative town budget which it shall present at the public meeting provided for in Section
7-2-1 of this Charter. The Town Manager and the Superintendent of Schools shall cooperate with the Committee on Appropriations and shall provide the Committee on Appropriations all data reasonably necessary for the Committee on Appropriations to carry out its duties.
[Amended 11-4-2014]
Following the preliminary public meeting, the
Committee on Appropriations shall prepare a Town Budget which it shall
submit in printed report form to the Financial Town Meeting which
budget shall contain recommendations for expenditures and the amount
of tax which will be necessary to levy to pay such expenses as provided
in Section 7-l-2 of this Charter. At least one week prior to the Financial
Town Meeting, the Committee on Appropriations shall cause the proposed
budget to be posted electronically on the Town's website and to be
available in printed form at the Clerk's Office.