Massachusetts General Law, chapter 39

Section 16: Appropriation, advisory or finance committees; appointment; tenure; powers and duties

Section 16. Every town whose valuation for the purpose of apportioning the state tax exceeds one million dollars shall, and any other town may, by by-law provide for the election or the appointment and duties of appropriation, advisory or finance committees, who shall consider any or all municipal questions for the purpose of making reports or recommendations to the town; and such by-laws may provide that committees so appointed or elected may continue in office for terms not exceeding three years from the date of appointment or election.
In every town having a committee appointed under authority of this section, such committee, or the selectmen if authorized by a by-law of the town, and, in any town not having such a committee, the selectmen, shall submit a budget at the annual town meeting.

What does submit mean? - present (a proposal, application, or other document) to a person or body for consideration or judgment.

So, there is a Massachusetts General Law that states the Finance or Advisory Committee shall present a budget to Town Meeting, not create one.

Templeton Town General by-laws:

Article III - Town Officers: Section 4. “It shall be duty of the Town Administrator in conjunction with the BOS to consider expenditures and develop a budget for the ensuing fiscal year of the several boards, officers and committees of the town, as prepared by them in such form and detail as prescribed by the Town Administrator.”
Passed 5-16-13, Approved by A/G 8-22-13. Amended 5-19-14, Approved by
A/G 7-2-14

What does develop mean? - to invent something or bring something into existence.:

Article IV - Advisory Committee - Section 4. It shall be the duty of the Advisory Committee annually to consider the expenditures in previous years and the estimated requirements for the ensuing year of the several boards, officers and committees of the town, as prepared by them in such form and detail as may be prescribed by said committee. The said committee shall add to such statement of expenditures and estimates another column, giving the amounts which in its opinion should be appropriated for the ensuing year, and shall further add thereto such explanations and suggestions relating to the proposed appropriations as it may deem expedient, and report thereon as provided in section five of Article II.

So, clear as mud, as it may be, there is a law that states who should be submitting a budget to Town Meeting and since we (Templeton) does not have a by-law that clearly states who shall present a budget to Town Meeting, it seems the selectmen / Town Administrator shall prepare or create a budget, but Advisory Committee shall present a budget to Town Meeting. Looks like another interesting year.