[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.]
Budget — See Ch. 14.
The Finance Committee shall also serve as the Capital Planning Committee (the "Committee").
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).
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.
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.
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 Board of Selectmen explaining the omission.
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.