Finance Committee

Overview

Authority

The Finance Committee shall have the authority to prepare the annual budget of the Town and to consider any or all municipal questions for the purpose of making reports or recommendations to the Town, as provided in M.G.L. Ch. 39, §16. The Finance Committee shall have authority to vote transfers from the reserve fund as provided in M.G.L. Ch. 40 §6.

Membership

The Finance Committee shall consist of nine members, chosen by an appointing committee composed of the Moderator, the Chair of the Select Board, and the Chair of the Finance Committee. The appointing committee shall unanimously appoint members for a term of three years or, in the case of mid-term vacancies, for the duration of the vacant term. No member of the Finance Committee shall be a member of any other Town board or hold any elected or appointed positions as an official or employee of the Town except as provided by the Charter, these Bylaws, or Town Meeting action. The following offices shall be exempt from this rule:

• Anybody considering the structure of Town government, including a Charter Commission
• Any committee considering overall fiscal planning for the Town

Responsibilities

The Committee shall, prior to each Annual Town Meeting, prepare for publication in the warrant report a budget showing in detail the anticipated income and expenditures of the Town for the next fiscal year, together with its advice and recommendations on the appropriations of the Town funds and other matters pertaining to the future expenditures of money coming before Town Meeting.

The Committee shall present and explain the budget with its advice and recommendations at Annual Town Meeting. At any Special Town Meeting, the committee shall give its advice and recommendations regarding any appropriation of Town funds.