The fiscal year of the Town shall begin on the first day of
July and shall end on the thirtieth day of June.
The Board of Finance shall have all the powers and duties provided
by the General Statutes and this Charter. The Board of Finance shall
be the financial and budget-making authority of the Town, and shall
organize its work to provide:
(1) Preparation of the Annual Town Budget for the following fiscal year,
(2) Management and monitoring of the Annual Town Budget for the current
year,
(3) Annual audit of the books and accounts of the Town by an independent
public accountant or firm of independent public accountants, as provided
in the General Statutes of the State of Connecticut,
(4) Development of long-range financial planning for the Town in conjunction
with the Advisory Commission on Capital Expenditures,
(5) Preparation and publication and distribution of the Town Report.
Four members shall constitute a quorum and no vote, resolution
or other matter shall be approved by fewer than four affirmative votes.
The total number of all voting members, alternates plus regular members,
shall never be greater than six.
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The Board of Selectmen will receive from all offices, departments,
boards, committees or agencies of the Town dependent on the Annual
Town Budget for any portion of their operating income, excepting the
Board of Education, not later than 1 February a copy of their separate
itemized recommended Annual Town Budget for the ensuing year.
Not later than 1 March, the Board of Selectmen will present
to the Board of Finance a consolidated recommended Annual Town Budget,
containing such detail as required by the Board of Finance and outlining
the financial policy of the Town government, describing therein features
of the Annual Town Budget plan, indicating any major changes from
the current fiscal year and changes from those recommendations of
the several boards, commissions, and agencies with reasons therefor.
As a part of the Annual Town Budget, the Board of Selectmen shall
present a recommended program concerning municipal improvements or
proposed capital projects for the ensuing fiscal year and for five
years thereafter.
In preparing the consolidated recommended Annual Town Budget
the Board of Selectmen will effect such savings/budget reductions
as may result from centralized purchasing and bidding procedures as
have been outlined by the Board of Finance.
Preliminary discussions: at the beginning of each administration
and once a year prior to the determination of budgetary guidelines
for the ensuing fiscal year, the Board of Finance may request a meeting
with the Board of Selectmen for purposes of general discussion of
goals and financial commitments of all departments, boards, offices,
agencies and committees of the Town other than the Board of Education;
similarly, such meeting may be requested with the Board of Education.
Not later than the fifteenth day of January, the Board of Finance
will make known to the Chairmen of those boards, committees, and agencies
and offices of the Town dependent on the Annual Town Budget for any
portion of their operating income, such guidelines, forms, and requisites
as may direct and assist the preparation and presentation of their
respective budget proposals.
The Board of Finance will receive from the aforementioned boards,
committees, and agencies of the Town not later than February 1 their
separate itemized estimate of expenditures for the ensuing fiscal
year and will receive from the Board of Selectmen not later than March
1 the consolidated recommended Annual Town Budget for the Town, not
including the Board of Education. The budget proposal of the Board
of Education shall be presented to the Board of Finance not later
than the last Monday of March.
The Board of Finance will review the several and joint estimates
of expenditures; it will attempt to reconcile priorities, estimates,
and proposals through meetings with the Chairperson and First Selectman;
it will refine its review of the preliminary Annual Town Budget with
estimates of income and will prepare its own preliminary Annual Town
Budget which shall become the proposed Annual Town Budget. These actions
should be completed not later than May 1.
Not later than 14 days prior to the scheduled Annual Town Meeting
for Annual Town Budget Approval, the Board of Finance will hold at
least one public hearing at which time any elector or taxpayer shall
have the opportunity to be heard regarding appropriations for the
ensuing year. Printed copies of the proposed Annual Town Budget shall
be available at the office of the Town Clerk not less than 48 hours
prior to said hearing, and the Board may make such copies available
at such other locations and through distributions as it may prescribe.
Further, at least five days prior to the hearing, the Board will cause
to be published in a newspaper having a general circulation within
the Town a notice of that hearing, an abbreviated summary of proposed
Annual Town Budget estimates, and the estimated amount to be raised
by taxation.
After the hearing(s), the Board of Finance shall then revise
the preliminary Annual Town Budget if/as it deems desirable, and shall
prepare a final proposed Annual Town Budget which shall be filed with
the Town Clerk for presentation at the Town Meeting for its adoption.
Sufficient copies of the final proposed Annual Town Budget shall be
made available for distribution in the office of the Town Clerk at
least five days prior to the Annual Town Meeting for Annual Town Budget
Approval; further and again, at least five days prior to the Town
Meeting the final proposed Annual Town Budget shall be published in
accordance with the General Statutes.
Within 10 days after the adoption of the Annual Town Budget
the Board of Finance shall fix the tax rate in mills which shall be
levied on the taxable property in the Town for the ensuing fiscal
year.
Should the Town Meeting reject the proposed Annual Town Budget,
the procedures of § 1005 herein will prevail. (Approved
11-3-1992)
The Town shall have the power to incur indebtedness by issuing
its bonds or notes, subject to the limitations defined in the General
Statutes and the provisions of this Charter. The issuance of bonds
and notes, the terms of which are in excess of one year, except tax
anticipation notes, shall be authorized by resolution passed by majority
vote at a duly warned Town Meeting.
The Town may, however, borrow in anticipation of taxes an amount
not to exceed such taxes. The Town Treasurer, with the approval of
the Board of Selectmen and the concurrence of the Board of Finance,
is authorized and empowered to borrow money in anticipation of taxes
to be collected and to issue Town notes therefor, in amount not to
exceed one million dollars. The Town may borrow in anticipation of
taxes in excess of one million dollars but not to exceed such taxes,
upon recommendation of the Board of Finance and affirmative vote by
a majority of qualified voters present and voting at a duly warned
Town Meeting. Any amount borrowed in anticipation of taxes shall be
repaid within the same fiscal year.
The Town shall make no contributions to any organization or
private corporation except as herein provided. All contributions will
be deliberated with due consideration given to financial statements
of target organizations, agencies and corporations submitted in support
of the request for funds, and all approved contributions will be listed
as an integral part of the Town's Annual Budget.