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.
[Amended by Town Meeting 6-3-2014, approved by voters 4-7-2015]
Within the time fixed by by-law before the annual town meeting
is to convene, the Town Administrator after consultation with the
director of finance and consistent with guidelines issued by the select
board, shall submit to the finance committee a proposed operating
budget for the ensuing fiscal year with an accompanying budget message
and supporting documents and shall post the same on the Town Web Page
and in all areas of public notice, and shall provide copies of the
same at all public buildings.
The budget message of the Town Administrator shall, include,
specifically, projection of the fiscal and financial needs of the
town for at least the next five fiscal years, or such longer period
as may be deemed appropriate, both as to income and expenses, as well
as any substantial financial expenditures contemplated by any department,
committee, or board during such period, including budget programs
related to infrastructure maintenance, improvement and expansion.
The message shall also include a forecast of any fiscal trends which
the Town Administrator believes are likely to have an affect on the
town's revenues or expenses.
The budget message of the Town Administrator 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 Administrator 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 Administrator deems desirable
or the select board may require. In the presentation of the budget,
the Town Administrator shall utilize modern concepts of fiscal presentation
so as to furnish maximum information and the best financial control.
The proposed 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
proposed 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 Administrator shall submit a capital improvement program
to the select board and the finance committee at least 150 days before
the start of each fiscal year. It shall be based on material prepared
by the capital improvement committee established by by-law, including:
(a) A clear 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
needs of 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. This information is to be annually
revised by the Town Administrator with regard to the capital improvements
still pending or in the process of being acquired, improved or constructed.