Section 10.4. Budget Content.
The budget shall provide a complete financial plan of all Town funds and activities for the ensuing fiscal year and, except as required by law or this Charter, shall be in such form as the Manager shall utilize standard municipal expenditure classification by fund, organization unit, program, purpose or activity. It shall begin with a clear general summary of its contents, and shall be so arranged as to show comparative figures for actual and estimated income and expenditures of the preceding fiscal year. In separate sections, it shall indicate:
A. Anticipated revenues classified as cash surplus, miscellaneous revenues, and amount to be received from property tax; cash surplus being defined for purposes of this Article as the amount by which cash is expected to exceed current liabilities and encumbrances at the beginning of the ensuing fiscal year;
B. Proposed expenditures for current operations during the ensuing fiscal year, and the method of financing such expenditures;
C. A reasonable provision for contingencies which shall not be available for expenditures except as provided in Section 10.10;
D. Proposed capital expenditures during the ensuing fiscal year and the method of financing each capital expenditure; and
E. Anticipated net surplus or deficit for the ensuing fiscal year for each utility owned or operated by the Town and proposed methods of its disposition; subsidiary budgets for each such utility giving detailed income and expenditure information shall be attached as appendices to the budget.
The total proposed expenditures and provisions for contingencies shall not exceed the total of estimated revenue. (Amended 11/4/08)