TOWN OF NEWBURY
ANNUAL AND MONTHLY EXPENDITURE REPORTS
ANNUAL BUDGET PROCESS
The Town of Newbury's budget is approved at its Annual Town Meeting held each May. The Town of Newbury operates on a fiscal year which runs from July 1 to June 30 of each year.
During each fiscal year, changes to the annual budget can only be made by a Special Town Meeting or, in certain circumstances, by a vote of the Finance Committee and the Board of Selectmen. Only in certain limited instances can the town spend public funds without an appropriation by Town Meeting (for instance, state grant money does not typically require an appropriation by Town Meeting in order to be expended.)
After Town Meeting has approved the annual budget, the town then submits to the state Department of Revenue a report of all appropriations and anticipated revenues. This submission is known as the Tax Recapitulation Sheet, or Recap Sheet. The Department of Revenue must approve the town's Recap Sheet in order for the town budget to be approved and for the town to set its annual tax rate.
EXPENDITURE REPORTS
During the fiscal year, the Town tracks the town's expenses and each month publishes a Monthly Expenditure Report. The Monthly Expenditure Report lists each department's spending during the fiscal year and compares it to the approved budget.
The latest Monthly Expenditure Report for November 2010 is available for your review.
Below you will find the final Expenditure Reports for the most recent fiscal years. Please click on the appropriate link to view the final Expenditure Report for that year.
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