Vermont Statutes
Chapter 113 - Town of Colchester
App § 602. Preparation and submission

§ 602. Preparation and submission
(a) The Town Manager, at least 75 days before the annual Town meeting or at such previous time as the Town Manager may be directed by the Selectboard, shall submit to the Selectboard a budget containing:
(1) an estimate of the financial condition of the Town as of the end of the fiscal year;
(2) an itemized statement of appropriations recommended for current expenses, and for capital improvements other than those included in multi-year, voter approved capital plans, voter approved financing agreements, voter approved debt, or impact fees adopted in accordance with 24 V.S.A. chapter 131, during the next fiscal year with comparative statements of appropriations and estimated expenditures for the current fiscal year and actual appropriations and expenditures for the immediate preceding fiscal year;
(3) an itemized statement of estimated revenues from all sources, other than taxation, for the next fiscal year and comparative figures of tax and other sources of revenue for the current and immediate preceding fiscal years;
(4) for capital to be funded through revenues other than those included in multi-year, voter approved capital plans, voter approved financing agreements, voter approved debt, or impact fees adopted in accordance with 24 V.S.A. chapter 131, a capital budget for the next five fiscal years, showing anticipated capital expenditures, financing, and source of funding.
(b) The annual budget should be presented as follows:
(1) The Town Manager shall formally present the Town Manager’s budget to the Selectboard at a public meeting and provide such other information as may be requested by the Selectboard.
(2) The Selectboard shall have 35 days to review and approve the recommended budget with or without change.
(3) Not later than 45 days prior to the annual Town meeting, the Selectboard shall hold at least one public hearing to present and explain its proposed budget.
(4) Not less than 15 days prior to the annual Town meeting, the Town Manager shall print and distribute the Selectboard’s recommended budget and the final warning of the pending Town meeting.
(5) Not less than 15 days prior to the annual Town meeting, the Town Manager shall also file the proposed capital budget with the Town Clerk and Secretary of the Planning Commission pursuant to 24 V.S.A. § 4443(a). (Amended 2015, No. M-1, § 2, eff. Jan. 27, 2015; 2017, No. M-5, § 2, eff. May 17, 2017.)

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