The fiscal year of the town shall begin on July 1 and shall
end on June 30, unless another period is required by the General Laws.
The town manager shall establish a budget calendar, consistent with
any requirements in this charter and by-laws, setting forth key deadlines
for action. Following presentation of the same to the select board,
the town manager shall provide notice thereof to all town department
heads, directors, boards, committees and officials.
Before the spring annual town meeting is to convene, the town
manager shall, not later than 1 week prior to the date on which the
town manager will submit the proposed budget and budget message to
the select board for its review, cause to be published in a local
newspaper information as to the times and places, which shall include,
at a minimum, the town website and the town manager's office, where
copies of the town manager's proposed budget and budget message may
be reviewed or requested, and such information shall include the date,
time and place of the public hearing thereon. After consultation with
the select board, the town manager shall submit to the finance and
warrant committee a proposed, balanced, operating budget for the ensuing
fiscal year with an accompanying budget message and supporting documents.
The budget message of the town manager shall explain the budget
for all town agencies, 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 select board 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 the General Laws, by this charter
or by by-law, it shall be in the form which the town manager deems
desirable or the select board 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 agency 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 agency, and the proposed method of financing each such capital
expenditure; and
(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 select board and the finance and warrant committee within the
time fixed by by-law. The program shall be based on material prepared
by the capital improvement committee established by by-law, if any,
including:
(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 5 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; and
(d) the estimated annual cost of operating and maintaining each facility
and piece of major equipment involved.
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This information is to be annually revised by the town manager
with regard to the capital improvements still pending or in the process
of being acquired, improved or constructed.
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The town manager shall be the chief fiscal officer of the town.
Warrants for the payment of town funds prepared and signed by the
director of finance in accordance with the provisions of the General
Laws shall be submitted to the town manager. The approval of any such
warrant by the town manager shall be sufficient authority to authorize
payment by the treasurer-collector or, as may be applicable, town
treasurer, but the select board alone shall approve all warrants prepared
and signed by the director of finance in the event of the absence
of the town manager or a vacancy in the office of town manager.
The select board shall annually provide for an independent audit
of all financial books and records of the town or whenever it deems
an audit of the whole town or of any particular town agency to be
necessary or desirable.
Audits of the town's financial books and records shall be conducted
by a certified public accountant, or firm of such accountants, having
no interest, direct or indirect, in the affairs of the town.