9-1-1.
The fiscal year of the town shall commence on July 1 and end on June
30, unless another uniform fiscal year for all towns shall be specified
by state law.
9-2-1.
There shall be an audit committee consisting of 3 members appointed
by the select board for overlapping 3-year terms. The audit committee
shall review annual financial statements of the town financial offices,
review the independent auditor's management recommendations and
provide advice and counsel to the select board, town administrator
and other financial staff.
9-3-1.
The town administrator shall prepare an annual operating budget for the town as described in section 9-4-3. For such purposes, the town administrator shall establish a budget schedule for the development and submission of all departmental budgets to the town administrator and director of municipal finance, and for the compilation of a proposed consolidated operating budget for the town or such schedule may be established by town by-law. The town administrator shall also prepare, in consultation with the director of municipal finance, a 5-year capital plan.
9-4-1.
Not less than 3 months before the business session of the spring
annual town meeting, the town administrator shall submit to the select
board for its review and approval a proposed operating budget for
the town with a summary budget message and supporting documents, and
a 5-year capital plan. The select board may make such changes to the
proposed operating budget and budget message as it considers appropriate.
Following approval by the select board, the proposed annual operating
budget, with summary budget message and supporting documents, and
5-year capital plan shall immediately be forwarded to the finance
and warrant commission.
9-4-2.
The summary budget message shall explain the budget both in fiscal
terms and in terms of work programs. It shall outline the proposed
financial policies of the town for the ensuing year and shall indicate
any major changes from the current year in financial policies, expenditures
and revenues, together with the reasons for such changes.
9-4-3.
The operating budget shall provide a complete financial plan for
all town funds and activities and shall be in such form as the finance
and warrant commission may require; provided, however, that it shall
indicate proposed expenditures for both current operations and capital
projects during the ensuing year, detailed by purpose, offices, departments,
commissions and committees.
9-4-4.
The 5-year capital plan shall be designed to address unmet long range
needs and to implement the capital goals and objectives of the town,
and shall include all town activities and departments. The capital
improvements plan shall include a clear summary of its contents, a
list of all capital improvements proposed to be undertaken during
the next 5 years, together with supporting data, cost estimates, methods
of financing and recommended time schedules, and the estimated annual
cost of operating and maintaining the facilities or equipment to be
constructed or acquired. The information required by this section
may be revised and extended each year by the to administrator and
shall apply each year to capital improvements pending or in the process
of construction or acquisition.
9-4-5.
The finance and warrant commission shall conduct at least 1 public
meetings on the proposed operating budget not less than 14 days prior
to its submission at the annual town meeting.
9-4-6.
The select board shall be responsible for presenting the proposed
operating budget to the town meeting.
9-4-7.
Town meeting may, by town by-law, establish additional procedures
applicable to consideration and adoption of the budget that are not
inconsistent with this charter.
