Excerpt from Town Charter - Article VI, Section 602-603
The Mayor shall prepare and submit a budget to the Council, on such date as the Council by Ordinance shall determine, but no later than the first day of April before the beginning of any fiscal year.
The budget shall provide a complete financial plan for the budget year and shall contain estimates of anticipated revenues, including projected surplus revenues as defined in Section 606, and proposed expenditures for the coming year.
The total of the anticipated revenues shall equal or exceed the total of the proposed expenditures. The budget shall be a public record in the office of the Clerk, open to public inspection by anyone at reasonable times during normal business hours.
The budget shall be prepared and adopted in the form of an Ordinance on or before May 31st of each year. A favorable vote of at least a majority of the total elected membership of the Common Council shall be necessary for adoption. Upon adoption, the Town treasurer is authorized to notify Prince George’s County of the Town’s adopted tax rate.