The Mayor, on such date as the Council may require, but at least thirty-two days before the beginning of any fiscal year, shall submit to the Council a budget. The budget shall provide a complete financial plan for the budget year and shall contain estimates of anticipated revenues and proposed expenditures for the coming year. The budget may also provide a contingent fund not to exceed ten per cent (10%) of the total amount of the budget. The total of the anticipated revenues shall equal or exceed the total of the proposed expenditures. The budget shall show in each category the amount budgeted for the current fiscal year and actual expenditures as of the the end of the previous month, as well as proposed expenditures for the coming fiscal year. Along with the budget the Mayor shall present a statement showing the Town's total assets and liabilities. The budget shall be a public record in the office of the Mayor and Council open to public inspection by anyone during normal business hours.