§ 9-4. Budget Contents.

(a) The proposed budget shall provide a complete financial plan of all Town funds and activities for the ensuing fiscal year and, except as required by this Charter, shall be in such form as the Town Manager deems desirable or the Council may require. In organizing the proposed budget, the Town Manager shall classify expenditures by fund, organization unit, program, purpose or activity, and object. The proposed budget shall begin with a clear general summary of its contents, shall be so arranged as to show comparative figures for actual and estimated income and expenditures of the preceding fiscal year, and shall indicate in separate sections:

(1)

Anticipated revenues classified as cash surplus, miscellaneous revenues, and amount to be received from property tax; cash surplus being defined for purposes of this Article as the amount by which cash is expected to exceed current liabilities and encumbrances at the beginning of the ensuing fiscal year;

(2)

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

(3)

A reasonable provision for contingencies which shall not be available for expenditures except as provided in Section 9-7;

(4)

Required expenditures for debt service, judgments, cash deficit recovery and statutory expenditures;

(5)

Proposed capital expenditures during the ensuing fiscal year, detailed by offices, departments and agencies when practicable, and the proposed method of financing each such capital expenditure; and

(6)

Anticipated net surplus or deficit for the ensuing fiscal year for each utility owned or operated by the Town and the proposed method of its disposition. Subsidiary budgets for each such utility giving detailed income and expenditure information shall be attached as appendices to the budget.

(b)

The total of proposed expenditures and provision for contingencies shall not exceed the total of estimated revenue.