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Town Seal
 
ARTICLE IV. FINANCIAL PROCEDURES


Part A Budget

Section 4.01 Fiscal Year

        The fiscal year of the Town shall be established as July 1 to the ensuing June 30th.
        
Section 4.02 Budget

        The budget shall provide a complete financial plan of all Town administration funds, and activities for the upcoming fiscal year, and, except as required by this Charter or law, shall be in such form as the Board of Selectmen and Budget Committee may require. In organizing the budget, the Budget Committee shall utilize the most practical combination of expenditure classification by fund, organization unit, program, purpose or activities and objectives. It shall show in detail all estimated income, and all proposed expenditures, including debt service, for the current fiscal year, and shall be arranged as to show comparative figures for actual and estimated income and expenditures of the current fiscal year and actual income and expenditures of the preceding fiscal year. It shall indicate in separate sections as follows:

        (a)     Proposed expenditures for current operations during the ensuing fiscal year, detailed by office, departments and agencies in terms of their respective work programs, and the method of financing such expenditures; and

        (b)     Proposed capital expenditures during the ensuing fiscal year, detailed by offices, departments and agencies along with the proposed method of financing each such capital expenditure when practical.

        (c)     For information only, the Budget Committee shall separately provide such information as is then available regarding the York County Tax and S.A.D. #6 assessment.
Section 4.03 Submission of the Town Budget and Budget Message

        On or before the 15th day of the 3rd (third) month preceding the Annual Town Meeting each year, the Budget Committee shall submit to the Board of Selectmen a budget recommendation for the upcoming fiscal year and an accompanying message. The Budget Committees message shall explain the Budget in fiscal terms, describe the important features of the budget, indicate any major changes from the current year in expenditures and revenue together with the reasons for such changes.

Section 4.04 Board Action on the Town Budget

        The budget requests submitted shall be reviewed by the Board of Selectmen who shall recommend such proposed budget, or recommend a modified budget for inclusion in the Town Warrant to be voted upon at the annual Town Meeting.

Section 4.05 Public Records

        (a)     Available to Public. Copies of the yearly budget shall be public record and shall also be made available to the public through the Annual Town Report.

        (b)     Town Warrant. The Town Meeting Warrant shall contain the total money appropriated for the current year along with the Board of Selectmen’s and the Budget Committee’s recommendation for the upcoming fiscal year under each article requiring an appropriation.

Part B Operating Procedures

Section 4.06 Preparation of Warrants

        The procedures for preparing warrants and writing corresponding checks for payment of town expenses will be determined by the Board of Selectmen. No checks shall be signed until the warrants are approved by the Selectmen.

Section 4.07 Town Monies

(a)      Town Clerk Fees:  Any and all fees accruing to the Town Clerk shall accrue directly to the Town.
(b)     Acceptance of Monies:  The Legislative Body shall vote to accept all monies received by the Town from outside sources, including but not limited to: Federal, State or other Governmental Bodies, and private or public sources.  

Section 4.08 Bid, Purchasing and Sales Procedures

        Purchasing:  Except in emergency situations as determined by the Selectmen, in those cases where the scope of work or services to be performed for the Town shall require an expenditure of $2,500.00 or more, the following guidelines shall be followed:

(a)     A clear statement defining the required scope of services or specifications of the work to be performed shall be provided to the potential bidders along with notice as to where the bid forms may be picked up. Notices shall be mailed to prior and appropriate bidders notifying them of the current bid request.
(b)     Requests for bids shall be advertised in the local papers early enough to give bidders sufficient time to prepare bids. Such advertisements should include the statement that “the Selectmen reserve the right to accept or reject any or all bids.” Awards shall be made to the lowest, responsible and responsive bidder.

(c)     The manner in which the bids are to be submitted, when they shall be due in the town office, and when the bids are to be publicly opened shall be clearly stated in the ad.


        (d)     For purchases between $1000. and $2499, at least three (3) price quotes for comparable products must be obtained prior to purchase.

        Sales:

Disposal of all surplus equipment shall be the result of acceptance of the highest bid by a sealed bid process established by the Selectmen , who reserve the right to reject all bids.

Section 4.09 Budget Amendments After Adoption

        (a)     Modification of Appropriations: If at any time during the fiscal year it appears probable to the Treasurer that the revenues available will be insufficient to meet the amount appropriated, he shall report to the Board of Selectmen without delay, indicating the estimated amount of the deficit. The Board of Selectmen shall then take any further action as it deems necessary to prevent or minimize any deficit.
        (b)     Transfer of Appropriations: The Board of Selectmen must call a Special Town Meeting to consider and vote on the transfer of part or all of any unencumbered appropriations balance from one appropriation to another. Selectmen may make intradepartmental transfers to reconcile revenue and expense accounts, said funds to be transferred only for the use of revenue shortfalls or emergency spending as determined by the Selectmen. All other transfers unless allowed under State Statutes must go to Town Meeting.

Section 4.10 Lapse of Appropriations

        General fund appropriations, except Federal Revenue Sharing funds or an appropriation for a capital expenditure, or such accounts the Selectmen may deem necessary, shall lapse at the close of the fiscal year to the extent that they have not been expended or encumbered, or except as prohibited by law. Such funds shall be transferred to a surplus account. An appropriation for a capital expenditure shall continue in force until the purpose for which it was made has been accomplished or abandoned.

Section 4.11 Annual Post-Audit

        The Board of Selectmen shall each year obtain the services of the Maine State Department of Audit or a qualified public accountant for the purpose of conducting the annual post-audit of the prior fiscal year municipal finances, as authorized by law.

 
Town of Buxton
  185 Portland Road, Buxton, ME 04093 (207) 929-5191
Mon, Tues, Thur, Fri 8:30am to 4:30pm & Wed: 11:30am - 7:30pm