Finance Committee

Agendas & Minutes

Agendas are available prior to the meetings. Minutes are available following approval.

The finance committee serves as the town's official fiscal watchdog.
Its primary responsibility is to advise and make recommendations to town meeting on the budget and other areas with financial implications.
The Finance Committee also administers the town's "reserve fund."

The Finance Committee consists of nine members.
Members are appointed by the moderator to three year terms (each year one third of the members are appointed).

The authoritative power Finance Committee is limited to the administration of the reserve fund and a limited power to transfer money between budget categories at the end of a fiscal year.
The primary responsibility of the Finance Committee is to advise town meeting. Because appropriation authority rests with Town Meeting, the power that the Finance Committee holds is a function of the credibility it has earned with town meeting members.

The Finance Committee's receives budgets from the executive branch, analyzes them, holds hearings where the department heads and the public can testify and, subsequently, presents a balanced budget to Town Meeting.
Finance Committee must not only examine direct costs, it must read between the line items and investigate financial implications of policy decisions.
The budget presented Town Meeting is the Finance Committee's consensus recommendation. This budget may be amended by town meeting, provided that amendments maintain a balanced budget.
The Finance Committee should promote a budget process that results in a clear and meaningful budget document with analyses, explanations, and justifications for its recommendations that can present voters with a clear picture of town government: what it is, where it is, and where it is heading.

The Finance Committee serves in an oversight role. It acts as a check on powers of the executive arm of the town government (including the treasurer, town administrator, select board, and school department).
This does not mean the Finance Committee should have an adversarial relationship with the Select Board, administrators, or other departments. In fact, the finance committee should develop a good working relationship with all-by being open to suggestions, alternative opinions, and working out compromises on key issues.