The fiscal year of the Town shall begin on the
first day of July and shall end on the last day of June, unless another
period is required by General Law.
The Triton Regional School District Committee and the Whittier
Regional Vocational School District Committee shall create and submit
their proposed budgets in accordance with their respective regional
district agreements and state law.
Within the time fixed by by-law, before the Town Meeting is to convene in its spring session, the Town Manager, after consultation with the Board of Selectmen, shall submit
to the Warrant Advisory Committee a proposed budget message and supporting
documents. The Town Manager shall simultaneously provide
for publication in a local newspaper, a general summary
of the proposed budget. The summary shall specifically indicate any
major variations from the current operating budget and the reason
for such changes. The notice shall further indicate the times and
places at which complete copies of the proposed operating budget are
available for examination by the public both electronically and in print.
The budget message of the Town Manager shall explain
the budget for all Town departments, 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 changes, summarize the Town's debt position and include other material as the Town Manager deems desirable, or the Selectmen may reasonably require.
The proposed operating budget shall provide a complete financial
plan for all Town funds and activities for the ensuing
fiscal year. Except as may otherwise be required by General Law or
this Charter, it shall be in the form which the Town Manager deems desirable or the Selectmen may require.
In the presentation of the budget, the Town Manager 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 department 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 department, and the proposed method of financing
each such capital expenditure and a summary of the proposed capital
improvements program.
(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 Town Manager shall submit a capital improvement
program to the Board of Selectmen and the Warrant Advisory Committee
at least one hundred fifty days before the start of each
fiscal year. It shall include:
(a) a clear and concise general summary of its contents;
(b) a list of all capital improvements proposed to be undertaken during
the next ensuing five years, with supporting information as to the
need for each capital improvement;
(c) cost estimates, methods of financing and recommended time schedules
for each improvement;
(d) the estimated annual cost of operating and maintaining each facility
and piece of major equipment involved.
The information is to be revised annually by the Town Manager with regard to the capital improvements still pending, or
in the process of being acquired, improved, or constructed.
|
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 Town Manager for review prior to submission of same to the
Board of Selectmen for approval.
Statements summarizing the budget and the capital improvement
program and related warrant articles, as adopted by the Town Meeting, shall be made available electronically, and
in print at the office of the Town Clerk, for examination
by the public not more than ten days after their adoption.