A. Adoption of the Proposed Town Budget by the Legislative Council723. Subject to the provisions of § 10-6 of this Charter, the Council shall adopt the Proposed Town Budget not later than the seventeenth (17th) Day of May, and shall make the same available for public inspection in accordance with the Public Notice provisions of this Charter ("Adopted Town Budget").
(1) Establishment of the Tax Levy724. At the time the Council adopts said budget, it may also at said time or such later date as the General Statutes may permit, fix the tax rate in mills, which shall be levied on the taxable property in the Town for the ensuing fiscal year.
(2) Failure to Adopt a Town Budget725. Should the Council not have adopted a Town Budget within the allotted time, the Proposed Town Budget, as originally submitted by the Mayor, shall be deemed to have been adopted by the Council as the Town Budget Ordinance and the Mayor shall have the right to publish the tax rate and expenditures in accordance with the budget so adopted, subject to the provisions of § 10-7 of this Charter726.
(3) Lapsed Funds.
(a) General or Operating Funds727. Any portion of an annual appropriation unexpended and unencumbered at the close of a budget year shall lapse.
(b) Capital Funds728. Appropriations for construction or other permanent improvements, from whatever source made, shall not lapse until the purpose for which the appropriation was made shall have been accomplished or abandoned, provided any project shall be deemed to have been abandoned if five (5) fiscal years elapse without any expenditure from or encumbrance of the appropriation therefor, provided, at the request of the Mayor, following consultation with the Finance Commission, the Legislative Council may, at any time by resolution, transfer any unencumbered balance or portion thereof from one project to another.
723 2022 recodification of 2011 § 10-3.B which modified 1983 Charter § 18-3 (second paragraph, first sentence). The inserted date replaces the following: "...forty-five (45) days before the end of the fiscal year". In addition, the reference to "Public Notice" as defined in the Charter replaces the language pertaining to distribution at the library system.
724 2022 recodification of 2011 § 10-3.B (1). Consistent with 1983 Charter § 18-3 (second paragraph, second sentence).
725 2022 recodification of 2011 § 10-3.B (2). Consistent with 1983 Charter § 18-3 (second paragraph, third sentence).
726 The following provision of 1983 Charter § 18-3 (second paragraph, fourth, fifth and sixth sentences) is repealed: "Capital and Nonrecurring Expenditures Fund. The Council may levy annually, a tax of not more than two mills to be assessed upon the taxable property in the Town for the benefit of a fund to be known as the "Capital and Nonrecurring Expenditures Fund"726 to be used solely to pay the cost of capital improvements for which the Town is authorized to issue bonds. The Council shall have the power to transfer to this fund any portion of the general fund cash surplus not otherwise appropriated. Appropriations for construction or for other capital improvements shall not lapse until the purpose for which the appropriation was made shall have been accomplished or abandoned, provided any project shall be deemed to have been abandoned if three fiscal years have elapsed without any expenditure from or encumbrance of the appropriation."
727 2022 recodification of 2011 § 10-3.B (3). Consistent with 1983 Charter § 18-3 (second paragraph, seventh sentence).
728 NEW (2022).