The Board of Finance is a bipartisan board comprised of six members who serve six year terms. The Board is responsible for recommending to electors an annual budget and for setting the taxation rate once electors have approved a budget for each year. In establishing a prospective budget the Board reviews budget proposals from the Board of Selectmen, the Board of Education, the Capital Committee, the Recreation Committee and the Board of Fire Commissioners. The latter two organizations by ordinance submit their budgets directly to the Board rather than to the Selectmen. If necessary the Board may request statutorily allowable revisions in all proposals. The Board also conducts a public hearing in advance of the annual budget meeting during which requests for appropriations may be submitted by electors to be considered for inclusion in the budget.
During each fiscal year transfers among accounts and unbudgeted proposed expenditures or modifications to the financing of town or school district operations are considered and recommended to electors by the Board. No unbudgeted expenditure may be made without approval of both the Board of Finance and the legislative body (town meeting.)
The Board is, further, responsible for contracting with and annually reviewing the report of a certified auditing firm to assure that the town’s fiscal operations are conducted in accordance with state statutes and generally accepted municipal finance accounting standards.
The Board of Finance shares responsibility with the Board of Selectmen for monitoring and, if necessary, adjusting the investment of funds that support the Municipal Employees Pension Fund.
|Andrew Dionne||Vice Chairman|