The fiscal year of the town shall be as required by the General Laws.
The Town Manager, no later than the first Monday in January of each year, shall submit to the Select Board and Finance Committee a proposed budget and a proposed capital improvement program for the ensuing fiscal year with an accompanying budget message and supporting documents.
The budget message of the Town Manager shall explain the 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 current year in financial policies, expenditures and revenues together with the reasons for such changes; summarize the Town's debt position and include other material as the Town Manager deems desirable.
[Amended 2000; 2006]
Not later than the first Monday in January of each year, the town manager shall submit a capital improvement program to the Select Board and finance committee. The capital improvement program, prepared by Capital Improvement Program Committee, shall include: a clear, concise summary of all capital improvements proposed to be undertaken during the next ensuing six years with supporting information as to the need of each such capital improvement; cost estimates, methods of financing and recommended time schedules for each improvement; and the estimated annual cost of operating and maintaining each facility and piece of major equipment involved. This information is to be annually revised by the Capital Improvement Program Committee with regard to the capital improvements still pending or in the process of being acquired, improved or constructed.
The Capital Improvement Program Committee shall be composed of two members of the Finance Committee, two members of the Planning Board, two members of the Select Board, two members of the School Committee, and one member of the Municipal Building Committee. The Town Manager and Planning Director shall serve as non-voting members.