What must be included in the municipality's annual budget as per state requirements?

The inclusion of a detailed plan of expected revenues and expenditures in the municipality's annual budget aligns with state requirements designed to ensure transparency and fiscal responsibility. This plan serves as a comprehensive financial roadmap for the municipality, outlining how much revenue is anticipated from various sources and how those funds will be allocated across different expenditures.

A detailed budget plan helps local government officials and stakeholders understand the fiscal priorities and the expected financial health of the municipality for the upcoming year. It fosters accountability, as it requires the municipality to justify its financial decisions based on calculated estimates and future projections. This is particularly important for managing public funds effectively and for enabling the municipality to navigate financial challenges throughout the fiscal year.

While the other options have components that are involved in municipal budgeting processes, they do not comprehensively address the required elements of the budget as mandated by state law. For example, a public vote may be necessary for certain financial decisions or changes but is not a standard requirement for every annual budget. Similarly, simply listing projected expenses without pairing them with expected revenues lacks the necessary context for a complete financial picture. Estimates based solely on prior years' budgets do not account for changes in the economic environment or shifts in community needs, making them insufficient as a standalone requirement.