Pursuant to the Town Charter, each year the Town Administrator is required to submit a proposed budget for the ensuing fiscal year not later than 30 days prior to the end of the current fiscal year to the Town Council for its review, consideration, and revision if desired. The Town Council shall call a public hearing or hearings on the budget. The Town Council may adopt the budget with or without amendment. In amending the budget, it may add or increase programs or amounts and may delete or decrease any programs or amounts, except expenditures required by law, or for debt service, or for estimated cash deficit, provided that no amendment to the budget shall increase the authorized expenditures to an amount greater than the total of estimated income plus funds available from prior years.

The budget ultimately adopted by the Council must set forth the appropriations for services, functions, and activities of the various Town departments and agencies, and shall meet all fund requirements provided by law. If a budget is not adopted by the 15th day of September, the amounts appropriated for the current fiscal year shall be deemed adopted for the ensuing fiscal year on a month-to-month basis, with all items in it prorated accordingly until such time as a budget for the ensuing fiscal year is adopted. The levy of property tax will be set to equal the total current fiscal year tax receipts, unless the ensuing fiscal year budget is approved by September 15th of the current fiscal year.

The Proposed Budget was provided to the Town Council, the Finance & Audit Advisory Committee, and the Town Secretary on July 12, 2024. A public hearing on the Proposed Budget was held at 8:00 a.m. on August 6, 2024.  The Town Council is scheduled to consider approval of the Proposed Budget at its meeting on Tuesday, August 13, 2024.