The fiscal year of the town shall begin on July first and end on June thirtieth, unless another provision is made by general law.
The budget adopted by the school committee shall be submitted to the town manager in sufficient time to enable him to prepare the total town budget he is required to submit by Section 6-3.
(a) 
Public Hearing.
The school committee shall cause to be published in a local newspaper a general summary of its proposed budget. 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 complete copies of the budget shall be available for examination by the public, and (2) the date, time and place, not less than seven nor more than fifteen days following such publication, when a public hearing shall be held by the school committee on the proposed budget.[1]
[1]
Art 2 1978 Fall Town Meeting deleted the following from the first sentence: “At least thirty days before the meeting at which the school committee is to vote on its final budget request.”
(b) 
Adoption.
The action of the school committee in adopting the budget following the public hearing shall be summarized and the vote of each member on any amendments offered to the proposed budget shall be duly recorded.
Within a time fixed by bylaw before the start of the fiscal year, the town manager, under the direction of the select board, shall submit to the finance committee a proposed budget for the ensuing fiscal year with an accompanying budget message and supporting documents. He shall simultaneously provide for the publication in a local newspaper of a general summary of the proposed budget and a notice stating the times and places where complete copies of his 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. It shall outline proposed financial policies of the town for the ensuing fiscal year; describe important features of the budget; indicate any major variations from the budget for the current year in financial policies, expenditures and revenues together with the reasons for such changes; summarize the town’s debt position; and include such other material as the town manager deems desirable.
The budget message shall provide a complete financial plan of all town funds and activities, including the budget as requested by the school committee for the ensuing year. Except as may otherwise be required by general law or by the charter, it shall be in the form the town manager deems desirable or the select board may require. In his 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 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 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 such 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 shall, forthwith upon receipt of the proposed budget, provide for the publication in a local newspaper of a notice stating the date, time and place, not less than five nor more than fourteen days following such publication, 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 proposed by the town manager, and may confer with representatives of any such 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 in furtherance of its responsibility.
(c) 
Presentation to the Town Meeting.
The finance committee shall file a report of its recommendations with the town clerk in sufficient time to be distributed to each town meeting member at least seven days before the action on the budget article is to begin. The budget to be acted upon by the town meeting shall be the budget as proposed by the finance committee.
The town manager shall submit a capital improvement program to the select board and the finance committee at least thirty days before the date fixed for submission of his proposed budget. It shall be based on material prepared by a capital planning committee of the town, including (a) a clear, concise general summary of its contents; (b) a list of all capital improvements proposed to be undertaken during the ensuing five years, with supporting information as to the need for each capital improvement; (c) cost estimates, methods of financing and recommended time schedules for each improvement; and (d) the estimated annual cost of operating and maintaining each facility and piece of major equipment involved. This information is to be annually revised by a capital planning committee with regard to the capital improvements still pending or in the process of being acquired, improved or constructed.
Statements summarizing the budget and the capital improvement program and related warrant articles, as adopted by the town meeting, shall be made available in the office of the town manager for examination by the public not more than twenty days after their adoption.
Warrants for the payment of town funds prepared by the comptroller 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.