The budget outlines the Town's plan for achieving the goals, objectives, and service delivery levels desired by the Mayor and Board of Commissioners. Specifically, it is a financial plan consisting of an estimate of proposed expenditures, the proposed means of financing, and the goals and objectives of expenditures for the fiscal year, which runs from July 1 - June 30. The Town Manager is responsible for proposing and developing a fiscally responsible budget in the spring of each year, and the Town Board adopts the budget no later than June 30.
The financial statements are the official document describing the Town's financial position as of the end of the fiscal year, June 30th. The financial statements promote transparency, providing citizens and elected officials with a detailed, independent audit of the Town's accounting. The financial statements provide elected officials, staff, citizens, and financial services firms with useful information about the Town’s operations and financial position. This annual report provides one way of assessing whether elected and appointed officials are faithfully carrying out their role of good stewards of town resources.