ARTICLE V FINANCE
Section 1: Financial Supervision.
The Mayor shall have complete supervision over the financial administration of the town government. The Mayor may delegate, under his supervision, any of the financial powers and duties granted him by this Charter. He shall receive any assistance he requests with
regard to financial matters from any town officer or employee.
Section 2: Expenditures to be Authorized by the Board of Commissioners.
No public money may be expended without having been appropriated by the Board of Commissioners.
Section 3: Fiscal Year.
The town shall operate on an annual budget with the fiscal year beginning on the first day of July and ending on the last day of June of the following calendar year.
Such fiscal year shall also constitute the tax year, the budget year and the accounting year.
Section 4: Budget—Estimates used for Preparation.
The Mayor, on such date as the Board of Commissioners may require, but at least thirty-two days before the beginning of any fiscal year, shall submit to the Board of Commissioners and an explanatory budget message, for that purpose, at such date as he shall
determine. The Mayor, with the assistance of such town officers and employees as he requests, shall obtain from the head of each office, department and agency the following:
Estimates of revenue and expenditures for the next fiscal year, detailed by organization units and character and object of expenditures;
Such other supporting data as he may request; and
An estimate of all capital projects pending or which such office, department or agency head believes should be undertaken within the budget year and within the next five succeeding years.
In preparing the budget, the Mayor shall review the estimates, shall hold hearings thereon with the head or other representative of the office, department or agency concerned, and may revise the estimates as he deems advisable.
Section 5. Budget Message.
The budget message submitted by the Mayor to the Board of Commissioners shall explain the budget, shall contain an outline of the proposed financial policies of the town for the budget year, and shall describe the important features of the budget plan. It shall
set forth the reasons for salient changes from the previous year in cost and revenue items and shall explain any major changes in financial policy. It shall include a statement of pending capital projects of a capital program for the next five fiscal years. Attached to the
budget message shall be such supporting schedules, exhibits and other explanatory material, in respect to both current operations and capital improvements, as the Mayor shall believe useful to the Board of Commissioners.
Section 6: Budget—Contents Generally.
The budget shall provide a complete financial plan for the budget year. It shall contain in tabular form:
Detailed estimates of all anticipated revenues applicable to proposed expenditures.
All proposed expenditures.
The total of the anticipated revenues shall equal the total of the proposed expenditures.
Section 7: Budget—Classification of Revenues.
Anticipated revenues shall be classified as "surplus," "miscellaneous revenue" and "amount to be raised by property tax. " Miscellaneous revenues shall be subclassified by sources.
Section 8: Budget—Items to Appear Opposite Anticipated Revenues.
In parallel columns opposite the several items of anticipated revenues there shall be placed the amount of each such item in the budget of the last completed fiscal year, the amount of such items actually received during the last completed fiscal year, the amount
of each such item in the budget of the current fiscal year, and the amount actually received to the time of preparing the budget plus receipts for the remainder of the fiscal year estimated as accurately as may be.
Section 9: Budget—Status of Public Utilities to Appear in Separate Section.
The anticipated revenues and proposed expenditures and anticipated surplus of water and sewer operations and any other public utilities owned or operated by the town shall be stated in a separate statement of the budget.
Section 10: Budget—Enumeration of Proposed Expenditures.
The proposed expenditures shall be itemized in such form and to such extent as shall be provided by law, or, in the absence of such provision, by regulations established by ordinance. Separate provisions shall be included in the budget for at least the following
Interest, amortization and redemption charges on the public debt for which the faith and credit of the town is pledged.
Other statutory expenditures.
The payment of all judgments.
An amount equal to the deficit for operations of water and sewer and other public utilities during the last completed fiscal year, separately stated for each utility which appears in a separate section of the budget.
Administration, operation and maintenance of each office, department or agency of the town itemized by character an object of expenditures.
Contingent expense in an amount of not more than three percent of the total proposed expenditures.
Expenditures proposed for capital projects.
Section 11: Budget—Items to Appear Opposite Proposed Expenditures.
In parallel columns opposite the several items of proposed expenditures, there shall be placed the amount of each such item in the budget of the last completed fiscal year, the amount of such items actually expended during the last completed fiscal year, the
amount of each such item in the budget of the current fiscal year, and the amount actually expended to the time of preparing the budget plus the expenditures for the remainder of the current fiscal year estimated as accurately as may be.
Section 12: Budget—Summary.
At the head of the budget there shall appear a summary of the budget, which need not be itemized further than by principal sources of revenue and kinds of expenditures, in such form as to present to the tax payers a simple and clear picture of the detailed
estimates of the budget.
Section 13: Budget—Public Record.
The budget and budget message and all supporting schedules shall be a public record in the Town Office, open to public inspection by anyone. *Amended by 10-6-97. See Ordinance # 97-12
Section 14: Budget—Change of Items by the Board of Commissioners.
The Commissioners may insert new items or may increase or decrease the items of the budget and where they shall increase the total proposed expenditures, they shall also increase the total anticipated revenue to balance the same.
Section 15: Budget—Adoption.
The budget shall be prepared and adopted in the form of an ordinance. The budget for the new fiscal year shall be finally adopted not later than the 27th day of June, and if not adopted by the Commissioners
on or prior to such day, the budget, as submitted by the Mayor, shall be deemed to have been finally adopted by the Commissioners.
Section 16: Issuance and Signing of Checks.
All checks issued in payment of municipal obligates shall be issued by the Town Clerk, approved by the Town Manager, and signed by the Town Treasurer and shall be countersigned by the Mayor. In the absence of the Town Treasurer and/or the Mayor, the President of
the Board of Commissioners and the Town Manager are authorized to sign checks. *Amended 10-16-97. See Ordinance # 97-11
Section 17: Taxing Power.
The Town of Emmitsburg shall have the power to levy annually on the assessable property in said town and collect such taxes as in its judgment may be necessary to pay all the debts, obligations and expenses of the town government which have been or may hereafter
be lawfully incurred. As part of its taxing power, the Town of Emmitsburg shall have the power to levy and to collect a general assessment on all property in the town to pay for the construction and/or maintenance of water mains, sewer mains, public ways, sidewalks, curbs,
gutters, and storm water sewers. This general assessment need not be on the basis of assessed valuation of the property, but may be on any equitable basis determined by the Board of Commissioners.
Section 18: Taxable Property and Assessments.
All real and tangible personal property within the limits of the town or which may have a situs there by the reasons of the residence of the owner therein, shall be subject to taxation for municipal purpose and the assessment for such purpose shall be the same as
that for State and County taxes. Agricultural property within the town may be exempt from the town taxes or taxed at a lower rate than other property in the town. Industrial property may also be exempted or taxed at a lower rate than other property in the town.
Section 19: Authority to Borrow Money and Issue and Sell Bonds.
The Town of Emmitsburg shall have the power to borrow on the faith and credit of the town from time to time as may be deemed necessary for its general corporate purposes. The town may issue and sell bonds for such indebtedness in accordance with the provisions of
Section 20 of this Article or with State law.
Section 20: Regulations Concerning the Issuance and Sale of Bonds.
Except as otherwise specified under the provisions of this Charter, the total amount of bonds issued under the authority of this Charter, when added to bonds outstanding, shall not exceed a forty percent of the total assessed value of all taxable property in the
town. The Board of Commissioners may regulate the issuing or sale of bonds in any manner not contrary to this Article.
Section 21: Short Term Borrowing.
The town shall have the power to borrow on a short term basis sums not to exceed in the aggregate Twenty Thousands Dollars and to issue notes or other evidences of indebtedness for such borrowing. Such borrowing shall be done as provided by ordinance.
Section 22: Bonds and Notes Exempt from Taxes.
All bonds, notes or other evidences of indebtedness issued and sold by the Town of Emmitsburg shall be exempt from all State, County and Town taxes in Maryland.
Section 23: Collection of Taxes.
The tax year shall be from July 1 though June 30, as set forth in Section 3 of this same Article. All taxes provided for in this Charter and ordinances as may be passed there under shall be due on the first day of July and shall be overdue and in arrears on the
first day of the succeeding October, and bear interest at the rate of one percent for each month or fraction of a month thereafter until paid. The town may establish discounts for prompt payment of taxes. Tax sales of properties for which taxes have not been paid shall be
held in accordance with Tax Property Article, Sections 14-808 to 14-854 and any subsequent amendments thereto, of the Annotated Code of Maryland.
Where improvements are added to any property resulting in an increase of assessment between July 1 and December 31 of any year, the town tax for the last half of the fiscal year, being one-half of the total annual levy, shall be due on the first day of January,
and shall be overdue and in arrears on the first day of the succeeding April, and shall bear interest at the rate of one percent for each month or fraction of a month thereafter until paid. The same provisions as to discounts and tax sales as were applicable in subsection
a. , shall also apply herein.
All checks or money for the payment of taxes shall be paid to or made payable to the Town of Emmitsburg. The agent for the collection of such taxes for the Town of Emmitsburg shall be the Town Treasurer. The taxes shall be received according to the manner and
the procedure as he shall designate.
*Amended 12-4-95 See Resolution # 4-95
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