[Adopted 5-3-1994 ATM by Art. 4]
As used in this article, the following words shall have the following meanings:
GENERAL APPROPRIATION
Any appropriation made by Town Meeting which is not a specific appropriation within the meaning of this article.
SPECIFIC APPROPRIATION
An appropriation made by Town Meeting which is described in the vote of the Town Meeting to be an appropriation for a specific purpose and is otherwise a specific appropriation under the law.
General appropriations made by the Town Meeting shall continue to revert to the general fund at the close of the fiscal year for which they are made as provided by law.
[Amended 5-3-2000 ATM by Art. 56]
A. 
Unless otherwise provided in a vote of the Town Meeting making a specific appropriation, or unless a specific appropriation has been encumbered by contractual obligations, a specific appropriation shall remain in existence for a period of two years from the commencement of the fiscal year in which the funds appropriated by the specific appropriation were authorized to be expended. At the end of the second fiscal year, any funds remaining in the specific appropriation shall revert to the general fund of the town. A vote making a specific appropriation may provide that the appropriation shall revert to the general fund at the end of any fiscal year.
B. 
The Appropriation Committee may at any time extend the date on which a specific appropriation would otherwise terminate and revert to the general fund.
C. 
The reversion of the balance of the funds in any specific appropriation account shall include any subsequent transfer of funds to that specific appropriation account which remain unexpended on the date of the reversion.
A. 
Nothing in this article shall be construed to affect the right of any creditor of the Town regardless of the reversion of any appropriation to the general fund.
B. 
An article appropriating funds utilized by an enterprise fund shall be closed at the end of the above period to the retained earnings of that enterprise fund.
C. 
Nothing in this article shall be construed to affect appropriations which require borrowing.
D. 
Articles voted prior to the effective date of this article shall be exempt from the provisions hereof.