A. 
There shall be a Budget Committee consisting of seven (7) members, elected at-large, serving three-year staggered terms. Members of the Budget Committee must be qualified voters of the town, residing within the town during their terms of office; they shall not serve on any other board, agency or commission of the town or be employed by the town in any other capacity. The provisions regarding Councilors in Sec. 202B, C and D shall apply to members of the Budget Committee.
[Amended 11-6-2012]
B. 
Within fourteen (14) days of receipt of the annual budget from the Council, the Budget Committee shall either approve the budget or reject it with written recommendations for changes.
The fiscal year of the town government shall be July 1 to June 30. Such fiscal year shall constitute the budget and accounting year as used in this Charter.
The credit of the town shall in no manner be loaned to any individual, association or corporation, except as provided by law.
A. 
The Manager, with the assistance of a Capital Planning Committee appointed by the Council, shall prepare and submit to the Council and Budget Committee a five-year capital program at least three (3) months prior to the final date for submission of the annual budget.
B. 
The capital program shall include:
(1) 
A clear general summary of its contents;
(2) 
A list of all capital improvements which are proposed to be undertaken during the five (5) fiscal years next ensuing, with appropriate supporting information as to the necessity for such improvements;
(3) 
Cost estimates, method of financing and recommended time schedules for each improvement; and
(4) 
The estimated annual cost of operating and maintaining the facility or equipment to be constructed or acquired.
C. 
The above information shall be revised and extended each year with regard to capital improvements previously authorized and which are still pending or in process of construction or acquisition.
D. 
The Council, by resolution, shall adopt the capital program with or without amendment after a public hearing held in accordance with the requirements for the annual budget hearing, on or before the first day of the budget year for which it is adopted.
A. 
The Manager, at least fourteen (14) days before the first meeting of the Council in March of each year, shall submit to the Council and Budget Committee a budget and an explanatory budget message. This budget shall contain:
(1) 
An exact statement of the financial condition of the town.
(2) 
An itemized statement of appropriations recommended for current expenses, with comparative statements in parallel columns of estimated expenditures for the current year and actual expenditures for the next preceding fiscal year, an increase or decrease in any item being indicated.
(3) 
Proposed capital expenditures during the ensuing fiscal year detailed by offices, departments and agencies when practicable and the proposed method of financing each capital expenditure.
(4) 
Any proposed capital expenditure with a total cost of over seventy-five thousand dollars ($75,000.) shall be submitted to referendum vote.
(5) 
An itemized statement of estimated revenue from all sources, other than taxation, and a statement of taxes required, comparative figures from current and next preceding years.
(6) 
Such other information as may be required by the Council.
B. 
Copies of the proposed budget shall be presented and made available to the general public at the time the proposed budget is made available to the Council and Budget Committee.
A. 
During the first Council meeting in March of each year a public hearing on the budget as received by the Council shall be held. Notice of such hearing shall be the same as for referenda under this Charter.
B. 
Following the public hearing and by May 1 each year, the Council shall submit the budget with or without amendments to the Budget Committee which shall act upon it within fourteen (14) days. If the Budget Committee does not approve the budget by majority vote, it shall be returned to the Council with written recommendations for changes. The Council may override the Budget Committee veto by the affirmative vote of five (5) of its members. In the event that the Council is unable to override the Budget Committee vote, the Budget Committee and Council shall hold a joint meeting within ten (10) days. The final budget must be approved by either a majority of both the Budget Committee and Council or by five (5) Councilors.
C. 
The warrant for the Annual Town Meeting for the consideration of the budget shall be approved at the first Council meeting in June of each year and the Annual Town Meeting held by June 30th. The Annual Town Meeting shall be called by the Council in the manner provided for calling town meetings in accordance with provisions of the statutes of the State of Maine. The warrant for the Annual Town Meeting shall consist of separate articles for each department which distinguish between operating and capital expenditure appropriations. Any capital expenditure with a total cost of over seventy-five thousand dollars ($75,000.) shall be voted on by referendum. Special Financial Town Meetings may be called by the Council in the same manner. The annual budget shall become effective only after it has been adopted at a Town Meeting by the vote of a majority of those present and entitled to vote at such meeting. The Town Meeting shall not increase the amount of any appropriation above the amount requested in the budget or make any appropriation not requested in the budget and shall not increase the amount of any bond issue above the amount requested in the budget.
A. 
Supplemental appropriation. During the fiscal year, any expenditure of excess funds shall be done only with an affirmative vote of a Special Town Meeting.
B. 
Emergency appropriations. To meet a public emergency affecting life, health, property or the public peace, the Council may make emergency appropriations. Such appropriations may be made by emergency ordinance. To the extent that there are no available unappropriated funds to meet such appropriations, the Council may by emergency ordinance authorize the issuance of temporary notes, which may be renewed from time to time, but the temporary notes and renewals of any fiscal year shall be paid not later than the last day of the fiscal year next succeeding that in which the emergency appropriation was made.
C. 
Reduction of appropriations. If at any time during the fiscal year it appears probable to the Manager that the revenues available will be insufficient to meet the amount appropriated, he/she shall report to the Council without delay, indicating the estimated amount of the deficit, any remedial action taken by him/her and his/her recommendations as to any other steps to be taken. The Council shall then take further action as it deems necessary to prevent or minimize any deficit and for the purpose it may, by ordinance, reduce one (1) or more appropriations.
Every general fund appropriation, except an appropriation for a capital expenditure, shall lapse at the close of the fiscal year to the extent that it has not been expended or encumbered. An appropriation for a capital expenditure shall continue in force until the purpose for which it was made has been accomplished, rescinded or abandoned; the purpose of any such appropriation shall be deemed abandoned if five (5) years pass without any disbursement from, encumbrance of or addition to the appropriation.
In any period between the beginning of a fiscal year and the time of adoption of a budget for that year, Council may authorize expenditures for usual and necessary departmental functions. Such expenditures are chargeable against whatever appropriation is included in the budget ultimately adopted for that department or account.
No payment shall be made or obligation incurred against any allotment or appropriation except in accordance with appropriations duly made and unless the Manager or his/her designee first certifies that there is sufficient unencumbered balance in such allotment or appropriation and that sufficient funds therefrom are or will be available to cover the claim or meet the obligation when it becomes due and payable. Any authorization of payment or incurring of obligation in violation of the provisions of this Charter shall be void and any payment so made illegal; such action shall be cause for removal of any officer who knowingly authorized or made such payment or incurred such obligation, and he/she shall also be liable to the town for any amount so paid. However, except where prohibited by law, nothing in this Charter shall be construed to prevent the making or authorizing of payments or making of contracts for capital improvements to be financed wholly or partly by the issuance of bonds or to prevent the making of any contract or lease providing for payments beyond the end of the fiscal year, provided that such action is made or approved by ordinance.
Copies of the budget and capital program as adopted shall be public records and shall be made available to the public at suitable places in the town.