The fiscal year of the town of Plainville shall begin on the first day of July and shall end on the last day of June.
The town administrator shall develop and submit to the select board an overall financial projection of the town and provide an analysis of how the projection relates to the current and upcoming budget of the town. The projection shall provide a guideline as each department formulates its budget for the next fiscal year.
(a) 
Annually, the town administrator shall establish and issue a budget development schedule for preparing the proposed budget, which shall set forth the calendar dates, requested information and analysis relating to the development of the annual operating budget for the ensuing fiscal year. The town administrator shall issue the budget development schedule not less than 150 days prior to the date for the annual town meeting.
(b) 
Pursuant to the annual budget development schedule established in Subsection (a), the town administrator shall request and receive from the appointed treasurer-collector, who shall have all the powers and duties of town treasurers and tax collectors under the General Laws, and the board of assessors the estimated revenue for the ensuing fiscal year. Upon receipt of any additional specific fiscal data provided by the commonwealth or any other source, the treasurer-collector and the board of assessors shall revise, update and submit the data to the town administrator.
(c) 
The select board, after consultation with the town administrator, shall issue a policy statement that shall establish the general guidelines for the next town budget.
(d) 
All department heads and all multiple-member bodies shall submit detailed budget requests to the town administrator as the budget calendar shall require.
(e) 
Not less than 70 days prior to the date for the annual town meeting, the town administrator shall submit to the board and the finance committee an initial proposed budget for all town functions for the ensuing fiscal year.
(f) 
The proposed budget shall provide a complete financial plan for all town funds and activities and shall be in such form as the town administrator, in consultation with the treasurer-collector and the finance committee, may establish. The proposed budget shall indicate proposed expenditures for the current operations and for capital projects during the ensuing year, detailed by each town agency and by specific purposes and projects.
(g) 
The select board shall present the proposed budget to the town meeting by making the main motion under the annual operating budget article; provided, however, that the finance committee shall be recognized before any other person or committee for: (i) the finance committee's recommendations on the budget; and (ii) any amendments that the finance committee deems appropriate.
The town administrator shall prepare a capital improvement plan for the ensuing 5 years, which shall be updated annually. The finance committee shall present the proposed capital expenditures for the current fiscal year's capital improvements to the town meeting.