(A) Budget required. The town is required to prepare an annual budget in accordance with the statutes of the state.
(Prior Code, § 162.1)
(B) Annual appropriation bill. Pursuant to statute, the Board of Trustees of the town shall within the last quarter of each fiscal year pass an ordinance to be termed the annual appropriation bill for the next fiscal year.
(Prior Code, § 162.2)
(C) Nature and scope of budget. Pursuant to statute, the budget for the town, being a local government, shall present a complete financial plan for the ensuing budget year. It shall set forth all proposed expenditures for the administration, operation and maintenance of all offices, departments, boards, commissions and institutions, including publicly owned or operated utilities and enterprises; the actual or estimated operating deficits from prior years; all interest and debt redemption charges during the budget year; expenditures for capital projects to be undertaken or executed during the budget year. In addition thereto, the budget shall set forth the anticipated income and other means of financing the proposed expenditures for the fiscal year.
(Prior Code, § 162.3)