§ 149-42. Operating budget timetable and preparation
(a) Submission of timetable: At least five months before the scheduled date of Town meeting, the Manager shall prepare and present to the Board of Selectmen a proposed timetable which shall project the progress of events leading to the adoption of the Town budget.
(b) Statement by the Board of Selectmen regarding budget policy: Upon receipt of the timetable, the Board of Selectmen shall issue an annual budget policy statement, outlining the direction the Manager shall take in the drafting or assembly of the budget document.
(c) Departmental submissions: In following the timetable submitted to the Board of Selectmen, all department heads, and elected or appointed officials with budget responsibility shall submit operating budget requests to the Manager in a uniform format to be established by the Manager.
(d) Drafting of administration's proposed budget:
(1) Unified administrative request: The Manager shall, upon consultation with department heads, draft a unified, proposed operating budget for submission to the Board of Selectmen, reflecting a single request from the administration for each department.
(2) Manager's budget message: The Manager's administration's proposed budget shall be preceded by a budget message which shall explain the budget in both fiscal terms and in terms of work programs. It shall outline the proposed financial policies of the Town for the coming year, describe important features of the budget, indicate any major changes from the current year in terms of financial policies, revenues, and expenditures, indicating the reasons for the change. The message shall summarize the Town's debt position, include a profile of the capital expenditure program for the year, and also include any other material which the Manager deems appropriate.
(3) Budget-contents, format:
(A) The proposed budget shall provide a complete financial plan for all Town funded activities for the ensuing fiscal year, and except as required by law, or charter, shall be in a form the Town Manager deems appropriate or the Board of Selectmen may require.
(B) In organizing the budget, the Manager shall utilize the most feasible combination of expenditure classifications by fund, organizational units, work program, purposes, action, and objects.
(C) The budget shall begin with a clear, general summary of its contents and shall show, in detail, all proposed revenues, income, and all proposed expenditures.
(D) The budget should be arranged so as to show comparative figures for actual and estimated revenues, income, and expenditures for the preceding year, and for the year covered by the proposed budget.
(E) The budget shall include in separate sections:
(i) Proposed expenditures for current operations during the ensuing fiscal year, detailed by offices, departments, and agencies, detailed in terms of respective work programs, and the method of financing such expenditures;
(ii) Amount required to meet the interest on maturing bonds, notes, or other outstanding indebtedness;
(iii) Proposed capital expenditures during the ensuing fiscal year detailed, wherever practical, by office, department, or agency, along with the method of financing;
(iv) Proposed estimated monies to be raised from all sources to be collected, levied, or raised by taxation to defray the expenses of the Town.
(e) Subsidiary budgets for utilities:
(1) For each utility or enterprise owned and operated by the Town, a subsidiary budget shall be drafted in accordance with these guidelines, with the process of review and approval to be dictated by the Board of Selectmen.
(2) Cross subsidy in areas other than fund management between Town government operations and utility operations shall be limited to legitimate services and support provided as approved by the Board of Selectmen.