The fiscal year of the Town shall begin on the first (1st) day of October and end on the last (30th) day of September of each calendar year. Such fiscal year shall also constitute the budget and accounting year.
The Town Manager shall submit to the Council a proposed budget and accompanying message each year in accordance with the requirements of State law.
(Section 9.02 added and former Section 9.02 renumbered to 9.04 by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09; amended by November 3, 2015 election, effected by Ordinance 2015-41 adopted 11/13/15)
The Town Manager’s message shall explain the budget both in fiscal terms and in terms of the work programs, linking those programs to organizational goals and community priorities. It shall outline the proposed financial policies of the Town for the ensuing fiscal year and the impact of those policies on future years. It shall describe the important features of the budget, indicate any major changes from the current year in financial policies, expenditures, and revenues together with the reasons for such changes, summarize the Town’s debt position, including factors affecting the ability to raise resources through debt issues, and include such other material as the Town Manager deems desirable.
(Section 9.03 repealed and replaced by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
The budget shall provide a complete financial plan of all Town funds and activities for the ensuing fiscal year and, except as required by law or this charter, shall be in such form as the Town Manager deems desirable or the Council may require for effective management and an understanding of the relationship between the budget and the Town’s strategic goals. The budget shall begin with a clear general summary of its contents; shall show in detail all estimated income citing the source or basis of the estimates, indicating the proposed property tax levy, and all proposed expenditures, including debt service, for the ensuing fiscal year; and shall be so arranged as to show comparative figures for actual and estimated income and expenditures of the current fiscal year and actual income and expenditures of the three prior fiscal years and the projected budgets for the next three fiscal years; the total of the proposed expenditures shall not exceed the total estimated income and the balance of available funds. The budget shall indicate in separate sections:
(a) 
The proposed goals and expenditures for current operations during the ensuing fiscal year, detailed for each fund by department or by other organization unit, and program, purpose or activity, method of financing such expenditures, and methods to measure outcomes and performance related to the goals;
(b) 
Proposed longer term goals and capital expenditures during the ensuing fiscal year, detailed for each fund by department or by other organization unit when practicable, the proposed method of financing each such capital expenditure, and methods to measure outcomes and performance related to the goals; and
(c) 
The proposed goals, anticipated income and expense, profit and loss for the ensuing year for each utility or other enterprise fund or internal service fund operated by the Town, and methods to measure outcomes and performance related to the goals. For any fund, the total of proposed expenditures shall not exceed the total of estimated income plus carried forward fund balance exclusive of reserves.
(Section 9.04 repealed and replaced by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09; subsections (1)–(3) renumbered to (a)–(c) by Ordinance 2015-43, sec. 2.02, adopted 12/8/15)
(a) 
Budget Preparation. The Council shall provide to the Town Manager goals for the next fiscal period, by the end of January of the current fiscal year.
(b) 
Notice and Hearing. The Council shall review the proposed budget and revise it as deemed appropriate prior to general circulation for public hearing. The Council shall publish the general summary of the budget and a notice stating:
(1) 
The times and places where copies of the message and budget are available for inspection by the public, and
(2) 
The time and place, not less than two weeks after such publication, for public hearings on the budget.
(c) 
Amendment Before Adoption. After the public hearing, the Council may adopt the budget with or without amendment. In amending the budget, it may add or increase programs or amounts and may delete or decrease any programs or amounts, except expenditures required by law or for debt service or for an estimated cash deficit, provided that no amendment to the budget shall increase the authorized expenditures to an amount greater than total estimated income plus the balance of available funds.
(d) 
Adoption. The Council shall adopt the budget by ordinance not later than the 30th day of September. Adoption of the budget shall constitute appropriations of the amount specified as expenditures from the fund indicated.
(e) 
Failure to Adopt a Budget. If the Council fails to adopt the budget by the beginning of the fiscal year, the amounts appropriated for the current fiscal year shall be deemed adopted for the ensuing fiscal year until the Council adopts a budget for the ensuing fiscal year.
(f) 
“Publish” defined. As used in this article, the term “publish” means to print in the contemporary means of information sharing, which includes but is not limited to, one or more newspapers of general circulation in the Town, and, if available, in a web site.
(Section 9.05 repealed and replaced by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
(a) 
Supplemental Appropriations. If during or before the fiscal year the Town Manager certifies that there are available for appropriation revenues in excess of those estimated in the budget, the Council by ordinance may make supplemental appropriations for the year up to the amount of such excess[.]
(b) 
Emergency Appropriations. To address a public emergency affecting life, health, property or the public peace, the Council may make emergency appropriations. Such appropriations may be made by emergency ordinance. To the extent that there are no available unappropriated revenues or a sufficient fund balance to meet such appropriations, the Council may by such emergency ordinance authorize the issuance of emergency notes, which may be renewed from time to time, but the emergency notes and renewals of any fiscal year shall be paid or refinanced as long term debt not later than the last day of the fiscal year next succeeding that in which the emergency appropriation was made.
(c) 
Reduction of Appropriations. If at any time during the fiscal year it appears probable to the Town Manager that the revenues or fund balances available will be insufficient to finance the expenditures for which appropriations have been authorized, the Town Manager shall report to the Council without delay, indicating the estimated amount of the deficit, any remedial action taken by the Town Manager and recommendations as to any other steps to be taken. The Council shall then take such further action as it deems necessary to prevent or reduce any deficit and for that purpose it may by ordinance reduce or eliminate one or more appropriations.
(d) 
Transfer of Appropriations. At any time during or before the fiscal year, the Council may by resolution transfer part or all of the unencumbered appropriation balance from one department, fund, service, strategy or organizational unit to the appropriation for other departments or organizational units or a new appropriation. The Town Manager may transfer funds among programs within a department, fund, service, strategy or organizational unit and shall report such transfers to the Council in writing in a timely manner.
(e) 
Limitation. No appropriation for debt service may be reduced or transferred, except to the extent that the debt is refinanced and less debt service is required, and no appropriation may be reduced below any amount required by law to be appropriated or by more than the amount of the unencumbered balance thereof.
(f) 
Effective Date. The supplemental and emergency appropriations and reduction or transfer of appropriations authorized by this section may be made effective immediately upon adoption.
(Section 9.06 repealed and replaced by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
(a) 
Submission to Council. The Town Manager shall prepare and submit to the Council a five (5) year capital program before the first day of August of each year. The capital program shall be revised and extended each year with regard to capital improvements still pending or in process of construction or acquisition.
(b) 
Contents. The capital program shall include:
(1) 
A clear general summary of its contents;
(2) 
Identification of the long-term goals of the community as identified by the Council;
(3) 
A list of all capital improvements (facilities and property) and other capital expenditures which are proposed to be undertaken during the five (5) fiscal years next ensuing, with appropriate supporting information as to the necessity for each;
(4) 
Cost estimates and recommended time schedules for each improvement or other capital expenditure;
(5) 
Method of financing upon which each capital expenditure is to be reliant;
(6) 
The estimated annual cost of operating and maintaining the facilities to be constructed or acquired;
(7) 
A commentary on how the plan addresses the sustainability of the community and the region of which it is a part; and
(8) 
Methods to measure outcomes and performance of the capital plan related to the long-term goals of the community.
(Section 9.08 added and former Section 9.08 renumbered to 9.10 by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09. Subsection (a) amended by May 11, 2013 election, effected by Ordinance 2013-15, prop. 15, adopted 5/21/13)
The Council shall cause an independent annual audit to be made of the books and accounts of every department of the Town and may provide for more frequent audits as it deems necessary. Such audit shall be made by a Certified Public Accountant who shall be selected by the Council and who shall have no interest, direct or indirect, in the financial affairs of the Town government or in any of its officers. The Council may designate such accountant or firm annually or for a period not exceeding two (2) years, provided that the designation for any particular year shall be made no later than thirty (30) days after the beginning of such fiscal year. Nothing herein shall prevent the Council from redesignating the same accountant or firm which has previously been designated to prepare an audit. No Certified Public Accountant shall serve more than six (6) consecutive years.
(Section 9.09 repealed and Section 3.20 renumbered to become the new Section 9.09 by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
Errors or defects in the form or preparation of the budget or the failure to perform any procedural requirements shall not nullify the tax levy or the tax rate.
(Former Section 9.08 renumbered to 9.10 by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
Copies of the approved operation budget, capital facilities and property budget and supporting papers shall be filed with the Town Secretary and shall be public records available to the public for inspection upon request[.]
(Former Section 9.10 renumbered to 9.11 by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
Specified reserve funds may be created for specific purposes, and may be used only for such purposes.
(Former Section 9.14 renumbered to 9.12 by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
The Council may make changes in the budget for any municipal purpose or as otherwise permitted by law.
(Former Section 9.12 renumbered to 9.13 by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
The Council shall have the power to incur, create, refund and refinance indebtedness and borrow money for public purposes, to issue special or general obligation bonds, revenue bonds, funding and refunding bonds, time warrants, certificates of obligation and other evidences of indebtedness and to secure and pay the same in the manner and in accordance with the procedures provided and required by State law.
(Former Section 9.18 renumbered to 9.14 by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
All bonds of the Town having been issued and sold and having been delivered to the purchaser thereof, shall thereafter be incontestable and all bonds issued to refund in exchange for outstanding bonds previously issued shall and after said exchange be incontestable.
(Former Section 9.19 renumbered to 9.15 by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
In any budget year, the Council may, by resolution, authorize the borrowing of money in anticipation of the collection of the property tax for the same year whether levied or to be levied. Notes may be issued for periods not exceeding one (1) year and must be retired by the end of the budget year in which issued.
(Former Section 9.20 renumbered to 9.16 by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
Any and all bond funds approved by a vote of the qualified voter[s] of the Town will be expended only for the purposes stated in the bond issue and as otherwise authorized by law.
(Former Section 9.21 renumbered to 9.17 amended by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
The Council shall have the power to levy, assess and collect taxes within the jurisdiction of the Town for any municipal purpose.
(Former Section 9.22 renumbered to 9.18 by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
The tax rate shall be calculated, publicized and adopted in accordance with State law.
(Former Section 9.23 renumbered to 9.19 by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)
Except as otherwise provided by law or this Charter, the Council shall have the power to provide by ordinance or resolution such rules, regulations and mode of procedure to enforce and facilitate the collection by and payment to the Tax Assessor and Collector of all taxes due the Town as it may deem expedient, and may provide such penalty and interest as prescribed by State law for the failure to pay such taxes.
(Former Section 9.24 renumbered to 9.20 by May 9, 2009 election, effected by Ordinance 2009-12, prop. 19, adopted 5/18/09)