The fiscal year of the town shall begin on July first and end on June thirtieth, unless another provision is made by general law.
(a)
Publication and Hearing on School Budget - Prior to the school committee adopting the school budget it shall submit a summary of its proposed budget to a local newspaper, of general circulation in Longmeadow, and make copies available by print and on the town website. The summary shall indicate specifically any major variations from the present budget and the reasons for such variations and a notice stating (1) the times and places where copies of the full budget shall be available for examination by the public, and (2) the date, time and place when a public hearing shall be held by the school committee on the school budget.
(b)
Adoption of School Budget and Submission to the Town - After the completion of the public hearing on its proposed budget, the school committee shall submit the budget it adopts to the town manager not later than fifteen days prior to the date by which the town manager is required to submit the total town proposed budget in accordance with section 7-3 of the charter.
Within a time fixed by by-law before the start of the fiscal year, the town manager shall submit to the select board a total town proposed budget for the next fiscal year with an accompanying budget message and supporting documents. Upon the adoption of the proposed budget by the select board, the town manager shall forward the proposed budget to the finance committee. The town manager shall simultaneously submit a general summary of the proposed budget to a local newspaper, of general circulation in Longmeadow, and other media forms of communication including the town website. The summary shall include a notice stating the times and places where complete copies of the total town proposed budget shall be available for examination by the public.
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 message shall: (1) outline proposed financial policies of the town for the next fiscal year; (2) describe important features of the budget; (3) indicate any major variations from the budget for 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 town manager deems desirable.
The total town proposed budget shall be a comprehensive, recommended spending and revenue plan reflecting all town and school operations, and shall be balanced in terms of total proposed expenditures and total estimated revenue for the next fiscal year.
The proposed budget shall provide a complete financial plan of all town funds and activities for the next fiscal year, including the budget as voted by the school committee. The town manager shall include in the proposed budget the town manager's recommendations for all town agencies including the budget voted by the school committee. If the town manager's recommendation concerning the school budget is less than the amount voted by the school committee the town manager shall state the reasons for the amount recommended.
Except as general law or the charter may require, the proposed budget shall be in the form the town manager deems desirable or the select board may require. In the 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 control. The budget shall be so arranged as to show the actual and estimated income and expenditures for the previous, current, and next 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 methods of financing such expenditures;
(b)
Proposed capital expenditures during the ensuing fiscal year, detailed by town agency, and the proposed method of financing each 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.
(a)
Public Hearing - The finance committee, upon receipt of the proposed budget as acted upon by the select board, shall provide for the publication in a local newspaper and on the town website of a notice stating the date, time and place when a public hearing shall be held by the finance committee on the proposed budget.
(b)
Finance Committee Meetings - The finance committee shall consider in public meetings the detailed expenditures for each town agency as proposed by the town manager and select board and may confer with representatives of any agency in connection with such considerations. The finance committee may require the town manager or any other town agency to provide such additional information as it deems necessary or desirable.
(c)
Presentation to the Town Meeting - After the public hearing on the proposed budget, the finance committee shall file a report of its recommendations with the select board and the town clerk in sufficient time to be included in the warrant. The finance committee's recommendation shall state whether the committee supports or does not support the specific budget proposals. If the finance committee recommendation is to not support specific budget proposals, the committee shall indicate its reasons in the warrant.
(a)
The capital planning committee shall receive, from the town manager, capital improvement projects and needs of town departments and capital improvement projects and needs recommended by town boards and committees. The capital planning committee shall review these projects and needs and assist the town manager in preparing a five-year capital improvement program. The capital improvement program shall annually be submitted to the select board. The select board shall hold a public hearing on the capital improvement program before voting on the program. The select board shall forward the program to the finance committee at the same time the proposed operating budget is forwarded to the finance committee.
(b)
The capital improvement program shall include: (1) a clear, concise summary of its contents; (2) a list of all capital improvement projects and needs to be undertaken during the ensuing five years with supporting documentation, in such form as the town manager shall prescribe, describing the need for each project; (3) cost estimates, methods of financing and recommended time schedules for each project; and (4) the estimated annual costs of operating and maintaining each facility and/or major piece of equipment involved.
(c)
The first year of each five-year capital improvement program shall be considered the proposed capital budget for the next fiscal year to be voted on by town meeting.
Warrants for the payment of town funds prepared by the town accountant 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 town treasurer, but the select board shall approve all warrants in the event of the absence of the town manager or a vacancy in the office of town manager.
There shall be an audit committee consisting of five members appointed, by the select board, for terms of three years, so arranged that as nearly an equal number of terms as possible shall expire each year. The audit committee shall review annual financial statements of the town financial offices; and review the independent auditor's management recommendations; provide advice and counsel to the select board, town manager, town accountant, and treasurer.
[Added 6-12-2007]
The Town shall have an annual audit of the books and records of the Town performed by an independent auditor. The Select Board, with the assistance of the Audit Committee, shall have charge of the audit process for the Town, including, without limitation, the selection of the independent auditor and the implementation of any by-law regarding the audit and independent auditor.