[HISTORY: Adopted by the Annual Town Meeting
of the Town of Williamstown 5-12-1987, Art. 18; amended in its entirety 5-17-2011 ATM, Art. 20. Subsequent amendments
noted where applicable.]
GENERAL REFERENCES
Budget — See Ch. 14.
The Finance Committee shall also serve as the
Capital Planning Committee (the "Committee").
A.
The capital
expenditure budget shall include all proposed appropriations for which
sealed bids or proposals are required under Massachusetts General
Law and for which borrowing is permissible under MGL c. 44, § 7
or § 8, whether or not such borrowing is anticipated, except
those expenditures whose only Town funding is from the Massachusetts
Community Preservation Act (MGL c. 44B).
B.
On or before
the 15th of February in each year, the Town Manager shall prepare
and submit to the Committee a capital expenditure budget for the ensuing
fiscal year, and projections for not less than the following five
fiscal years, and all supplementary information in such form and detail
as the Committee may deem necessary or the Town may require by bylaw.
C.
The Committee
shall consider the relative need, impact, timing, and cost of these
expenditures and the effect each will have on the financial position
of the Town.
D.
No appropriation
shall be voted for a capital expenditure unless the proposed capital
expenditure is considered in the Committee's report, or the Committee
shall first have submitted a report to the Select Board explaining
the omission.
[Amended 5-17-2022 ATM, Art. 32]
The Committee shall submit its approved capital expenditure
budget to the Annual Town Meeting for adoption by the Town.
Such capital expenditure budget, after its adoption,
shall permit the expenditure on projects included therein of sums
from departmental budgets for surveys, architectural or engineering
advice, options or appraisals, but no such expenditure shall be incurred
on projects which have not been so approved by the Town through the
appropriation of sums in the current year or in prior years, or for
preliminary planning for projects intended to be undertaken more than
five years in the future.
The Committee's recommended capital expenditure
budget shall be published and made available in a manner consistent
with the distribution of the Finance Committee's report.