(a)  The Town Manager, at least 45 days before the date of the regular annual Town meeting, shall submit to the Selectboard a budget in such form required by them.

(b) The budget shall be published not later than four weeks after its submission to the Selectboard. Said budget as published shall also include an itemized statement of revenues and expenditures for the preceding fiscal year. The Selectboard shall fix the time and place for holding a public hearing for the budget, and shall give a public notice of such hearing in a newspaper having general circulation in the Town at least five days but not more than 15 days before such hearing. Said notice shall include a designation of the place or places within the Town where copies of the budget are available for distribution. In the manner provided in this subsection, the directors of the Shelburne School District shall likewise submit their budget for the next fiscal year to the public hearing provided for in this subsection. (Amended 2011, No. M-7, § 2, eff. May 17, 2011.)