An annual Town budget exclusive of school district budget shall become effective after adoption at Town meeting by the vote of the majority of those eligible to vote present at such meeting. After such budget has been adopted, the Selectboard may make emergency appropriations totaling not in excess of four percent of the aggregate budget appropriations, following an opportunity for public comment on the matter. Such emergency appropriations shall be reported to the next Town meeting. Any appropriation in excess of such four percent shall require prior approval of a special Town meeting. (Amended 2015, No. M-1, § 2, eff. Jan. 27, 2015; 2017, No. M-5, § 2, eff. May 17, 2017.)