The fiscal year of the Town shall begin on July 1 and shall end on June 30 unless another provision is made by General Law.
(a) 
Capital Planning Committee.
(i) 
Composition, term of office. There shall be a Capital Planning Committee, which shall be composed of five registered voters of the Town who shall serve terms of one year.
(ii) 
Powers and duties. The Committee shall provide to the Town Manager, in such format and with such information as may be required, a proposed Capital Improvement Program, which proposed program shall include, but need not be limited to, the following:
(a) 
A clear, concise summary of its contents.
(b) 
A listing of all capital expenditures proposed to be made, by year, for the five fiscal years next ensuing, with supporting information as to the need for each expenditure.
(c) 
Cost estimates, methods of financing, and recommended time schedules.
(d) 
The estimated annual cost of operating and of maintaining any new facility or piece of major equipment. The Capital Improvement Program shall be revised each year with regard to each item still pending or in the process of being acquired, improved or constructed.
(b) 
Final Capital Improvement Program. Following receipt of the proposed Capital Improvement Program, the Town Manager may modify or revise the same as deemed appropriate and shall present such final Capital Improvement Program to the Board of Selectmen and Finance Committee at least 30 days before the day fixed by bylaw for the submission of the proposed operating budget.
(a) 
Submission to Town Manager. The proposed budget request as adopted by the School Committee shall be submitted to the Town Manager on such date as specified so as to allow sufficient time to enable consideration of its effect on the total Town budget.
(b) 
Public hearing. At least seven days before the date on which the School Committee is to vote on its final budget request, the School Committee shall post on the Town's official website its draft budget and a general summary thereof and further shall cause notice to be published in a local newspaper of the availability of the budget and budget summary. The notice shall indicate the times and places where hard copies of the committee's complete draft budget are available for public examination, and, the date, time and place of the public hearing. The summary shall specifically indicate any major variations from the current budget, and the reasons for such changes.
Within a time fixed by bylaw prior to the spring Annual Town Meeting, the Town Manager, with the approval of the Board of Selectmen, shall submit to the Finance Committee and post on the Town's official website the proposed budget for the ensuing fiscal year, with an accompanying budget message, budget summary, and supporting documents. The Town Manager shall simultaneously submit for publication in a local newspaper notice of the availability of the budget and budget summary. The notice shall indicate the times and places at which hard copies of the complete proposed budget and accompanying materials are available for public examination. The budget summary shall specifically indicate any major variations from the current budget, and the reasons for such change.
The budget message submitted by the Town Manager shall explain the proposed budget for all Town agencies, both in fiscal terms and in terms of work programs. The budget message shall: outline proposed financial policies of the Town for the ensuing fiscal year; describe important features of the proposed budget; indicate any major variations from the current budget in financial policies, expenditures and revenues, together with the reasons for such changes; summarize the Town's debt position; and include such additional information as the Town Manager deems desirable or the Board of Selectmen may reasonably require.
The proposed budget shall provide a complete financial plan of all Town funds and activities, including the budget as requested by the School Committee. Except as may otherwise be required by the General Laws, or by the Charter, it shall be in the form the Town Manager deems desirable or as the Board of Selectmen may require. In presentation of the budget, the Town Manager shall make use of modern concepts of fiscal presentation so as to furnish a maximum amount of information and the best financial controls. 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, function and work programs and the proposed method of financing such expenditures.
(b) 
Proposed capital expenditures during the ensuing fiscal year, detailed by Town agency, and the proposed methods of financing such expenditures.
(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.
(a) 
Public hearing. The Finance Committee shall forthwith upon receipt of the proposed budget provide for the publication in a local newspaper and post on the Town's official website a notice stating the date, time and place, not less than five days following such publication, when a public hearing will be held by the Finance Committee on the proposed budget.
(b) 
Review. The Finance Committee shall consider, in open public meeting, the detailed expenditures proposed for each Town agency and may confer with representatives of any Town agency in connection with its review and consideration. The Finance Committee may require the Town Manager or any other Town agency to furnish it with such additional public information as it may deem necessary to assist it in its review of the proposed budget.
(c) 
Presentation to the Town Meeting. The Finance Committee shall file a report with the Town Clerk containing its recommendations for actions on the proposed budget, which report shall be available at least seven days prior to the date on which the Town Meeting acts on the proposed budget. Such report shall be posted on the Town's official website as soon as practicable following its filing. When the proposed budget is before the Town Meeting for action, it shall first be subject to amendment, if any, by the Finance Committee.