Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. Chapter 503 of the acts of 1952 is hereby amended by striking out section 31 as amended by section 14 of chapter 634 of the acts of 1956, and inserting in place thereof the following section:-
Section 31. Estimates of Expenditures. - On or before the second day of January of each year, the town manager shall submit to the selectmen, with copies thereof to each member of the finance committee, a carefully detailed estimate, in writing, of the fiscal requirements for the ensuing fiscal year of each fund and department under his control and he shall state the amount required to meet the interest and maturing bonds and notes or other outstanding indebtedness of the town. All other boards and departments not under the control of the manager shall likewise submit detailed estimates for their respective departments on said second day of January and shall furnish copies thereof to the town manager. All the estimates required by this section shall include a statement of the expenditures for the same purposes in the two preceding years.
SECTION 2. Said chapter 503 is hereby further amended by striking out section 32, as amended by section 15 of said chapter 634, and inserting in place thereof the following section:-
Section 32. Preparation of an annual budget and final budget document. - The selectmen shall consider the estimates submitted by the town manager and other department heads, and shall on or before the first day of February of each year transmit their recommendation relative thereto to each member of the finance committee. On or before the first day of September each year, the comptroller shall prepare and submit to the selectmen, the town manager, and all other boards and departments not under the control of the town manger, including the school department, a final budget document setting forth the boards and departments of the town by name and the categories of expenditures from all sources to be made during the fiscal year. The name of the fund and the amount it contributes to each board and departmental budget shall be identified. A comparison of prior year budgeted to actual revenues and expenditures shall be included for each board and department and in total. The budget shall include a summary schedule of all major revenues, expenditures and other financing sources of the town. An update to the budget shall be prepared and distributed within thirty days of the final adjournment of a special town meeting wherein additional appropriations have been voted.
SECTION 3. This act shall take effect upon its passage.