The fiscal year of the town shall begin on the first day of July and shall end on the last day of June, unless another period is required by general law.
(a) 
Public hearing. At least seven days before the meeting at which the school committee is to vote on its final budget request, the school committee shall cause to be published in a local newspaper a general summary of its proposed budget. The summary shall specifically indicate any major variations from the current budget, and the reasons for such changes. It shall further indicate the times and places at which complete copies of its proposed budget are available for examination by the public, and the date, time and place when a public hearing will be held by the school committee on the proposed budget. The school committee shall take its final vote on its proposed budget not sooner than at its next regularly scheduled meeting following the public hearing.
(b) 
Submission to Town Administrator. The budget as adopted by the school committee shall be submitted to the Town Administrator in sufficient time to enable the Town Administrator to consider the effect of the school department's requested appropriation upon the total town operating budget which is required to be submitted under this article.
[Amended by Town Meeting 6-3-2014, approved by voters 4-7-2015]
Within the time fixed by by-law before the annual town meeting is to convene, the Town Administrator after consultation with the director of finance and consistent with guidelines issued by the select board, shall submit to the finance committee a proposed operating budget for the ensuing fiscal year with an accompanying budget message and supporting documents and shall post the same on the Town Web Page and in all areas of public notice, and shall provide copies of the same at all public buildings.
The budget message of the Town Administrator shall, include, specifically, projection of the fiscal and financial needs of the town for at least the next five fiscal years, or such longer period as may be deemed appropriate, both as to income and expenses, as well as any substantial financial expenditures contemplated by any department, committee, or board during such period, including budget programs related to infrastructure maintenance, improvement and expansion. The message shall also include a forecast of any fiscal trends which the Town Administrator believes are likely to have an affect on the town's revenues or expenses.
The budget message of the Town Administrator 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 Administrator deems desirable, or the selectmen may reasonably require.
The proposed operating budget shall provide a complete financial plan for all town funds and activities for the ensuing fiscal year. Except as may otherwise be required by general law, or this charter, it shall be in the form which the Town Administrator deems desirable or the select board may require. In the presentation of the budget, the Town Administrator shall utilize modern concepts of fiscal presentation so as to furnish maximum information and the best financial control. The proposed budget shall show in detail all estimated income from the proposed property tax levy and other sources and all proposed expenditures, including debt service, for the following year. The proposed budget shall be arranged 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 and position in terms of work programs, and the method 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) 
Review by Finance Committee. The finance committee shall consider, in open public meetings, the detailed expenditures proposed for each town agency and may confer with representatives of each such agency in connection with its review and consideration. The finance committee may require the Town Administrator, or any other town agency, to furnish it with such additional information, as it may deem necessary to assist it in its review and consideration of the proposed operating budget.
(b) 
Action by Town Meeting. The finance committee shall file a report containing its recommendations for actions on the proposed operating budget, which report shall be available at least seven days before the date on which the town meeting acts on the proposed budget. Copies of the report of the finance committee shall be available for distribution to any person requesting the same at the office of the town clerk, the office of the select board, the office of the director of finance, the offices of the school administration and at the public library.
The Town Administrator shall submit a capital improvement program to the select board and the finance committee at least 150 days before the start of each fiscal year. It shall be based on material prepared by the capital improvement committee established by by-law, including:
(a) 
A clear concise general summary of its contents;
(b) 
A list of all capital improvements proposed to be undertaken during the next ensuing five years, with supporting information as to the needs of 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 the Town Administrator with regard to the capital improvements still pending or in the process of being acquired, improved or constructed.