Section 117-702 - Preparation and submission(a) The Town Manager, at least 50 days before annual Town meeting, or at such previous time as the Town Manager may be directed by the Selectboard, shall submit to the Selectboard a budget containing:(1) An estimate of the financial condition of the Town as of the end of the fiscal year.(2) An itemized statement of appropriations recommended for current expenses, and for capital improvements, during the next fiscal year; with comparative statements in parallel columns of appropriations and estimated expenditures for the current fiscal year and actual appropriations and expenditures for the immediate preceding fiscal year.(3) An itemized statement of estimated revenues from all sources, other than taxation, for the next fiscal year; and comparative figures of tax and other sources of revenue for the current and immediate preceding fiscal years.(4) A capital budget for the next five fiscal years, showing anticipated capital expenditures, financing, and tax requirements.(5) Such other information as may be required by the Selectboard.(b) The budget shall be published not later than two weeks after its preliminary adoption by the Selectboard. The board shall fix the time and place for holding a public hearing for the budget, and shall give a public notice of such hearing. The board shall then review the budget and recommend it, with or without change, to the annual Town meeting.24 Appendix V.S.A. § 117-702