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Session Laws, 1972
Volume 708, Page 2247   View pdf image
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Manchester                                      2247

(i) Do such other things in relation to the fiscal or financial affairs
of the town as the mayor or the council may require or as may be required
elsewhere in this charter.

42.   SAME—BOND

The clerk-treasurer shall provide a bond with such corporate surety
and in such amount as the council by ordinance may require.

43.   FISCAL YEAR

The town shall operate on an annual budget. The fiscal year of the
town shall begin on the first day of July and shall end on the last day of
June in each year. Such fiscal year shall constitute the tax year, the budget
year, and the accounting year.

44.   BUDGET

The mayor, on such date as the council by ordinance shall determine,
but at least thirty-two days before the beginning of any fiscal year, shall
submit a budget to the council. The budget shall provide a complete finan-
cial plan for the budget year and shall contain estimates of anticipated
revenues and proposed expenditures for the coming year. The total of the
anticipated revenues shall equal or exceed the total of proposed expendi-
tures. The budget shall be a public record in the office of the clerk-treasurer,
open to public inspection by anyone during normal business hours.

45.   SAME—ADOPTION

Before adopting the budget the council shall hold a public hearing
thereon after two weeks' notice thereof in some newspaper or newspapers
having general circulation within the municipality. The council may insert
new items or may increase or decrease the items of the budget. Where the
council shall increase the total proposed expenditures it shall also increase
the total anticipated revenues in an amount at least equal to such total
proposed expenditures. The budget shall be prepared and adopted in the
form of an ordinance. A favorable vote of at least a majority of the total
elected membership of the council shall be necessary for adoption.

46.   APPROPRIATIONS

Public money may be expended without having been appropriated by
the council. From the effective date of the budget, the several amounts
stated therein as proposed expenditures shall be and become appropriated
to the several objects and purpose named therein.

47.   TRANSFER OF FUNDS

Any transfer of funds between major appropriations for different
purposes by the mayor must be approved by the council before becoming
effective.

48.   OVER-EXPENDITURES FORBIDDEN

No officer or employee shall, during any budget year, expend or con-
tract to expend any money or incur any liability or enter into any contract
which by its terms involves the expenditure of money for any purpose, in
excess of the amounts appropriated for or transferred to that general

 

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Session Laws, 1972
Volume 708, Page 2247   View pdf image
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