7-1-1 
In all matters concerning finances and financial procedures of the Town, the provisions of General Law shall apply, together with such other requirements as are provided by this Chapter.
7-2-1 
Effective in 1972, the fiscal year of the Town shall begin on the first day of July and end on the last day of June, unless otherwise prescribed by General Law.
7-3-1 
At least ninety days before the end of each fiscal year, the select board shall request the auditing agency of The Commonwealth to conduct an audit of all accounts, books, records, and financial transactions of every department, board, and commission of the Town government, including the School Department.
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
7-3-2 
If the select board has not been assured, at least thirty days before the end of the fiscal year, that the auditing agency of The Commonwealth will carry out the requested audit, then the Board may retain a certified public accountant or accounting firm to make said audit and to file its report within one hundred and twenty days after the end of the fiscal year.
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
7-3-3 
All auditors' reports shall be public records and shall be filed with the Director of the Division of Finance and Administrative services and the Public Library, and a summary thereof shall be published in the next Annual Town Report.
7-4-1 
A Finance Committee of eleven members shall be appointed for three year overlapping terms. Five shall be appointed by the select board, and six shall be appointed by the Moderator. Appointments shall be made annually, within ten days of the adjournment of the first session of the Town Meeting.
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
7-4-2 
Vacancies in the Committee shall be filled for the un-expired portion of the term by the appropriate appointing authority.
7-4-3 
The Moderator shall have the power to rescind, for cause, any appointment made by the moderator to the finance committee, provided that the appointee shall first have been served with a written notice specifying the moderator’s intention, specifying the moderator’s reasons therefor and informing the appointee of the appointee’s right to be heard at a public hearing, if requested.
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
7-5-1 
At least one hundred and twenty days prior to the first session of the Annual Town Meeting, every department, board, commission, and committee shall prepare and submit to the Town Administrator operating budget estimates for the ensuing fiscal year.
7-5-2 
At least ninety days prior to the start of the first session of the Annual Town Meeting, the Town Administrator shall submit to the select board a proposed budget for the ensuing fiscal year and the draft of an accompanying budget message, unless otherwise provided for by General Law.
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
7-5-3 
At least sixty days prior to the start of the first session of the Annual Town Meeting, the select board shall submit the budget and a budget message for the ensuing year to the Finance Committee.
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
7-5-4 
The budget message shall explain the budget both in fiscal terms and in terms of work programs. It shall: (1) outline the proposed financial policies of the Town for the ensuing fiscal year; (2) describe the features of the budget; (3) indicate any major changes from the current year in financial policies, expenditures, and revenues, together with the reasons for such changes; (4) summarize the Town's debt position; and (5) include such other material as the select board shall deem desirable.
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
7-5-5 
The budget shall provide a complete financial plan for all Town funds and activities and shall be in such form as the Finance Committee may require, but it shall indicate proposed expenditures for both current operations and capital projects during the ensuing year, detailed by purpose, offices, departments, commissions, and committees.
7-6-1 
At least one hundred and fifty days prior to the start of the first session of the Annual Town Meeting, every department, board, commission, and committee shall prepare and submit to the Town Administrator, five year capital improvement estimates.
7-6-2 
At least one hundred and twenty days prior to the start of the first session of the Annual Town Meeting, the Town Administrator shall assemble and submit to the select board a proposed capital improvements program for the ensuing five years.
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
7-6-3 
The capital improvements program shall include: (1) a clear summary of its contents; (2) a list of all capital improvements proposed to be undertaken during the next five fiscal years, together with supporting data; (3) cost estimates, methods of financing, and recommended time schedules; (4) the estimated annual cost of operating and maintaining the facility to be constructed or acquired. The above information may be revised and extended each year with regard to capital improvements pending or in the process of construction or acquisition.
7-6-4 
At least ninety days prior to the start of the first session of the Annual Town Meeting, the select board shall act on the capital improvements program and shall then submit it to the Finance Committee, which shall issue its recommendations as part of its printed recommendations on the annual budget.
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
7-7-1 
The Finance Committee shall publish, in one or more newspapers of general circulation in the Town, a notice stating: (1) the times and places where copies of the operating budget and capital improvements program are available for inspection; and (2) the date, time, and place, not less than seven days after such publication, when the Finance Committee and the select board jointly shall conduct one or more public hearings on the proposed operating budget and the capital improvements program.
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
7-7-2 
The Committee shall have preliminary summaries of its recommendations available at said hearings which shall be distributed to those who request them.
7-7-3 
The finance committee shall then issue its recommendations in print on both the operating budget and the capital improvements program, and make copies available to the voters at least fourteen days prior to the first session of the Annual Town Meeting. In preparing its recommendations, the Finance Committee may require any Town department, board, or office to furnish it with appropriate financial reports and budgetary information.
7-7-4 
The select board shall be responsible for presenting both the operating budget and the capital improvements program to the first session of the Town Meeting.
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
7-9-1 
The budget and the capital improvements program shall be public records, and copies shall be kept available for inspection at the office of the Director of Finance and Administrative services, and at the Public Library.
7-10-1 
All monies received by the Town or by any department or officer thereof, shall, upon their receipt by such department or officer, be paid forthwith into the Town treasury.
7-10-2 
Warrants for the payment of Town funds, prepared and signed by the Town Accountant in accordance with General Law procedures shall be submitted to the select board, and their approval thereof shall be sufficient authorization for payment by the Town Treasurer.
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
7-11-1 
To meet a public emergency affecting life, health, property, or the public peace, the select board may make emergency appropriations, to the extent that there shall be available un-appropriated revenues to meet such appropriations.
[Amended 1-13-2021 by Ch. 343, Acts of 2020]
7-12-1 
If at any time during the fiscal year it appears probable to the town administrator that the revenue available will be insufficient to meet the amount appropriated, the town administrator shall report to the select board without delay, indicating the estimated amount of the deficit and any remedial action taken by the town administrator and the town administrator’s recommendations as to any other steps to be taken. The select board shall then take such further action as it deems necessary.
7-13-1 
Every appropriation, except an appropriation made by a separate warrant article, shall lapse at the close of the fiscal year to the extent that it shall not have been expended or encumbered by contract. An appropriation made by a separate warrant article shall continue in force until the purpose for which it was made shall have been accomplished or abandoned if three years shall pass without any disbursement from or encumbrance by contract of the appropriation.
7-13-2 
Unless authorized to do so by the Finance Committee, no department, commission, office or agency head may expend more than one-twelfth of its annual operating budget appropriation in the final month of any fiscal year, unless previously encumbered by contract.
[Amended 1-13-2021 by Ch. 343, Acts of 2020
7-14-1 
In addition to the prohibitions prescribed by law, the submission of a bid by any compensated town officer or employee on any contract to be awarded by the Town shall serve to vacate such town officer's or employee's office, unless otherwise authorized by General Law.