1992-1998-FISCAL AUDITS - Laserfiche WebLink

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1994 Annual Town meeting $ 18,241,983 ! 1994 supplemental appropriations 1.753,325 Total Appropriation $ 19,995.308 The actual revenues and expenditures reported on page 5 have been adjusted to conform with the budgetary basis of accounting. The following is a summary of adjustments made: Excess of revenues and other financing sources over (under) expenditures and other financing uses, as reported on page 4 $ (347,124) To reclassify current appropriation carryforwards as expenditures (406,608) To remove prior year appropriation carryforwards from expenditures 531,193 To adjust tax revenue to accrual basis 88,569 To record other financing sources (free cash) 921,359 Excess of sources over uses, as reported on page 5 $ 787389 D. Budget Requirement At the annual town meeting, the Finance Committee presents an oper- ating and capital budget for the proposed expenditures of the fiscal year commencing the following July 1. The budget, as enacted by the town meeting, also establishes that certain appropriations are to be funded by particular revenues. The original budget is amended during the fiscal year at special town meetings as required by changing conditions. In cases of extraordinary or unforeseen expenses, the Finance Committee is empowered to transfer funds from the Reserve Fund to a departmental appropriation. "Extraordinary" includes expenses which are not in the usual line, or are great or exceptional. "Unforeseen" includes expenses which are not foreseen as of the time of the annual meeting when appro- priations are voted. Departments are limited to the line items as voted at the town meeting. Certain items may exceed the line item budget as approved if it'is for an emergency and for the safety of the general public. These items are i I ! 8