SECTION 1.  Chapter 503 of the acts of 1952 is hereby amended by striking out section 31, as amended by section 1 of chapter 425 of the acts of 1993, and inserting in place thereof the following section:-

Section 31.  On or before the second business day of January each year, all boards and departments not under the control of the town manager shall submit to the town manager in writing detailed estimates for their respective boards or departments of the fiscal requirements for the ensuing fiscal year.  These submissions shall include detailed estimates of any revenues that support their budgets and shall be in a format as required by the town manager or as provided by town by-laws.  No later than the fifteenth day of January each year, the town manager shall submit to the selectmen, with copies to each member of the finance committee, a careful detailed estimate in writing of the fiscal requirements for the ensuing fiscal year of each fund and department of the town along with a detailed listing of all projected revenues to support these requirements. The town manager shall state the amount required to meet the interest and maturing bonds and notes or other outstanding indebtedness of the town.  All the estimates required by this section shall include a statement of the budgeted amount for the current year and the actual expenditures for the 2 preceding years.

SECTION 2.   This act shall take effect upon its passage.