AGENDA ITEM
CORRESPONDENCE
Subject:
title
MOTION to approve a Budget Letter of Directive to the Mayor and Board of Education for the preparation of the Fiscal Year 2024/2025 Budget, as contained in the draft dated November 8, 2023.
end
Background:
To begin the Annual Budget Process the Town Council issues a “Budget Letter of Directive” to the
Mayor and Board of Education, which outlines the preparation process provided in the Town Charter and also provides some direction relative to budget increases for the coming year.
BUDGET PREPARATION
SUGGESTED SCHEDULE/GUIDE
AND
ANNUAL TOWN BUDGET PROCESS
(Suggested Schedule Guide)
Reference: Town Charter Chapter VII - Pages (s) 28 - 31
October/November (Election Year-Dec) Town Council prepares and submits letter of Directive for Fiscal Year Budget to Mayor and Board of Education.
December Town Council prepares and approves Town Council Department budget to submit to Mayor's Office.
Per Town Charter
(1/16/2024)
3rd Monday in January All Departments submit preliminary budget to Mayor’s Office
(Monday 1/15/2024 is Martin Luther King Day Holiday).
Per Town Charter
(2/26/2024)
4th Monday in February the Board of Education shall file budget estimates to Mayor's Office.
Per Town Charter
(3/4/2024)
1st Monday in March the Mayor submits budget to Town Council and files with Town Clerk's
Office.
March
Finance Committee conducts Departmental Budget Work Sessions. Departments review and submits
budget materials to Town Council.
(3/27/2024)
Town Council finalizes budget.
(This Date is NOT dictated by Charter)
(4/08/2024)
Town Council files proposed budget with Town Clerk's Office for Public Hearing.
(This Date is NOT dictated by Charter)
Per Town Charter Last Monday in April
(4/15/2024)
On OR Before the last Monday in April the Town Council conducts one or more Public Hearings on
the proposed budget at the Council Chambers
4/24/2024
Town Council Votes to Finalize Budget
(This Date is NOT dictated by Charter)
Per Town Charter
(5/6/2024)
1st Monday of May the Town Council files proposed budget with Town Clerk’s Office for Annual Town Meeting
Per Town Charter
(5/20/2024)
3rd Monday in May Annual Town Meeting on the proposed budget to adjourn to a vote on the
voting machine the following day (Tuesday).
Per Town Charter
(Tuesday 5/21/2024)
Vote on Budget on voting machine
Per Town Charter
Should the Referendum does not approve the budget; the budget will be referred back to the Council, the Town Council should reconsider the budget and present it for a second vote on the voting machines three weeks following the previous referendum.
In the event the second referendum does not approve a budget, the Town Council shall adopt a final budget by the fourth Monday in June. Should both the referenda and the Town Council fail to adopt a final budget by the fourth Monday in June, the budget that was presented at the second referendum shall be deemed to have been adopted.
Per Town Charter
6/24/2023
On or before the Fourth Monday in June, the Town Council shall fix the tax rate in mils.
** The budget must be presented as a Resolution