(a)
Members of the Board of Finance shall be elected, vacancies shall be filled, and expenses shall be provided, all in accordance with Article IV of this Charter.
(b)
At the first meeting following the municipal election in which the Board members are elected, the Board of Finance shall meet and elect from its membership a chairman who shall preside over its meetings, a vice chairman who shall act as chairman in the absence of the chairman, and a clerk who shall be responsible for seeing that records are maintained and minutes and other records of the meetings and proper copies thereof are filed with the Board of Selectmen and the Town Clerk as prescribed by Statute and by Article IV of this Charter.
(c)
The Board shall, as its next order of business, establish a schedule
of regular meetings to be not less than 10 in any calendar year and
which shall include the public hearing held two weeks prior to the
Annual Town Budget Meeting. The Board shall post the schedule in the
Town Clerk's office and shall notify the chairman of those boards,
committees and agencies of the Town dependent on the Town budget for
any portion of their operating income.
(d)
Meetings of the Board shall be open to the public. When special meetings
are scheduled, notice of such meetings shall be posted in the Town
Office Building in accordance with the Statutes. Decisions of the
Board shall be made by majority of those present. No less than four
members shall constitute a quorum, except as otherwise provided by
the Statutes and this Charter.
(e)
The Board of Finance shall have its own budget which shall contain
an appropriation for the purpose of retaining a certified public accountant
to audit the Town books as required by the Statutes and another appropriation
for the just and necessary expenses of Board members incurred in fulfillment
of their duties. These sums shall be available for the purpose of
retaining a secretary and such sources of expert advice on financial
matters as the Board shall determine.
The Board of Finance shall have all the powers and duties provided
by the Statutes and by this Charter. The Board of Finance shall be
the chief financial authority of the Town. The Board of Finance shall
be responsible for the following:
(a)
By the second Monday in February, the Board of Finance shall meet
with the Board of Selectmen to discuss the priorities for the Town
in the coming fiscal year.
(b)
By the third Monday in March, the Board of Finance shall receive
the preliminary Town Budget for the Town from the Board of Selectmen.
(c)
By the second Monday in March, the Board of Finance shall determine
the probable total income of the Town for the forthcoming fiscal year.
This shall include an estimate of the funds from state and federal
sources which will or may become available to the Town.
(d)
By the first Monday in April, the Board of Finance shall review the
preliminary Town Budget submitted by the Board of Selectmen, together
with estimates of income, and prepare the final preliminary Town Budget.
In accordance with the Statutes, the Board of Finance may request
additional information from the Board of Selectmen or other agencies.
(e)
By the third Monday in April, the Board of Finance shall review the
final preliminary Town Budget with the Board of Selectmen and shall
indicate the reason for any change made to the preliminary Town Budget
submitted by the Board of Selectmen.
(f)
By the fourth Monday in April, printed copies of the final preliminary
Town Budget shall be available at the Town Clerk's Office and
at such other locations as the Board may prescribe.
(g)
By the first Monday in May, the Board of Finance shall hold a public
hearing, which shall be one of its regular meetings, on the final
preliminary Town Budget.
(h)
Those wishing changes in the budget as proposed by the Board of Finance
shall communicate their views at the public hearing. After the public
hearing, the Board shall draft its final recommended budget and provide
the Board of Selectmen a description of the budget items changed,
along with the reason(s) why further major deletions or additions
were necessary.
(i)
The final recommended budget as proposed by the Board of Finance
shall be presented for adoption at the Annual Town Budget Meeting
called for that purpose. Copies of the final recommended budget shall
be available no later than the second Monday in May at the Town Clerk's
office and elsewhere as the Board of Finance may prescribe. The Annual
Town Budget Meeting may delete or decrease the budget amounts but
may not increase budgeted amounts or add additional items into the
budget.
(j)
In the event that the Town shall fail to pass the recommended budget
subsequent Town Meetings shall be called by the Board of Selectmen
at intervals no greater than 14 days until a budget is passed.
(k)
When the budget is approved, the Board of Finance shall see that
it is promptly made available to Town agencies and the public through
the Town Clerk's office. Detailed expenditures used by the Board
of Finance in determining its final budget, shall also be made available
to the Board of Selectmen and each respective Town agency.
(l)
Within one week after the acceptance of the annual budget meetings
and all other budgets which determine the total budget of the Town,
the Board of Finance shall meet and levy a tax on the Grand List sufficient,
in addition to other estimated yearly income of the Town, to pay the
expenses and appropriations of the Town for the following year, and
also to absorb any revenue deficit of the Town at the end of the current
fiscal year.
(m)
The Tax Collector shall then collect the tax in accordance with the
Statutes; the due date shall be July 1 and January 1 unless otherwise
changed by Town Meeting. The Tax Collector shall submit monthly reports
to the Board of Finance as to the progress of collections.
(a)
The Board of Finance shall prescribe as it deems necessary such periodic
reporting of income and expenditures from all Town agencies dependent
on the Town budget for any portion of their income.
(b)
The Board of Finance shall review the budget monthly for the purpose
of seeing that the budget is proceeding according to plan. When the
Board finds serious deviations, it shall review the matter with the
Board of Selectmen. The Board of Finance may require a new set of
monthly budget estimates for that portion of the fiscal year remaining.
Annually, the Board of Finance shall appoint a certified public accountant
or firm of certified public accountants, who may serve for three consecutive
years, followed by one year of ineligibility, to audit the books and
accounts of the Town as required in the Statutes.
(c)
In the event that a Town agency requires a sum of money greater than
its current appropriation, it shall inform the Board of Selectmen
in writing. At its next meeting following the receipt of the request,
the Board of Selectmen shall determine what action, if any, to take.
The Board of Selectmen shall inform the Board of Finance of its determinations
in all such matters and shall forward all necessary documentation
to the Board of Finance.
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The Board of Finance may, at its next regular meeting, take
one or more of the actions listed below. If the Board of Finance takes
any action, the Board of Finance shall inform the Board of Selectmen,
in writing, of any action taken and the reasons therefore. The actions
available to the Board of Finance are as follows:
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1.
The Board of Finance may allot a sum of money to the requesting Town
agency from a contingency fund or unappropriated cash surplus fund
for such purpose in an amount not exceeding $20,000.00 without the
approval of a Town Meeting.
2.
The Board of Finance may transfer all or part of the unexpended balance
of any appropriation to the requesting Town agency. An "unexpended
balance" means that part of any appropriation which the requesting
agency or any other Town agency has determined that it will not expend
during the current fiscal year.
3.
The Board of Finance may make a supplementary appropriation of an
amount not exceeding $20,000.00 to the requesting Town agency. In
any fiscal year, the Board of Finance shall not make supplementary
appropriations totaling in aggregate more than $20,000.00 to any one
Town agency without approval of a Town Meeting.
4.
The Board of Finance may request the Board of Selectmen to call a
Special Meeting of the Town for the purpose of allotting a sum of
money, from any contingency fund available for such purpose in an
amount recommended by the Board of Finance, to the requesting agency.
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If denied by the Board of Selectmen, no further action shall
be taken by the Board of Finance.
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(d)
When the Town is maintaining a reserve fund for a Capital Expenditures
Program and capital and non-recurring expenditures in accordance with
the Statutes, payments into and appropriation from these funds shall
be made only upon the recommendation of the Board of Finance and approval
by a Town Meeting and the Board of Selectmen.
(e)
A special appropriation or transfer of unexpended balances, and payment
into or appropriation from the fund for capital and non-recurring
expenditures require Town Meeting approval in accordance with this
Charter and may be decreased by a Town Meeting, but may not be increased.
A Town Meeting may make no special appropriation or transfer of funds
not recommended by the Board of Finance.
(f)
Special appropriations other than those from surplus revenue or from
an approved contingency fund may be made only by vote of a Town Meeting
or recommendation of the Board of Finance.
(g)
The provisions of this section shall not be a limitation on the power
of the Town to issue bonds or other obligations for appropriations
or indebtedness in accordance with the Statutes and this Charter.
(a)
The fiscal year of the Town shall begin on July 1 and end on June
30 of the following calendar year.
(b)
The system of accounts used by Town agencies shall be that prescribed
by the Statutes as supplemented by regulations of the Board of Finance.
(c)
The regulations of the Board of Finance shall also designate the
forms and procedures for orders to be drawn on the Treasurer by the
Board of Selectmen.
(d)
All officers, boards, commissions, and committees shall comply with
the regulations of the Board of Finance required by this section.
Such regulations shall be adopted and may be amended by vote of the
Board of Finance and shall not be inconsistent with this Charter and
the Statutes.
(e)
The Board of Finance, at the end of the fiscal year, shall send a
request to all budgeted agencies for a written summary of their activities
and accomplishments for that year. This summary report shall be returned
by each such agency no later than 45 days thereafter, except for financial
reports requiring prior review by an auditor, these being due within
60 days. The Board of Finance shall then compile an Annual Town Report,
which incorporates the material thus received, as well as the auditor's
report. The Annual Town Report shall be made available for examination
prior to a Town Meeting called to approve the report. This meeting
is to be held before January 31 of the following year.
(f)
Purchases by an office or Town agency, other than the Probate Court
and where otherwise indicated by the Statutes, for supplies, materials,
services, equipment and other budget commodities that are to become
the property of the Town, shall be made under such rules and regulations
as may be established by the Board of Selectmen and shall meet the
approval of the Board of Finance. Bidding procedures then currently
in effect and on file in the Selectman's office that consider
quality, experience, and costs shall be used on all purchased items
costing in excess of $10,000.00, except as otherwise provided by ordinance,
or with approval of the Town Meeting, and only with the approval of
the Board of Finance.
(g)
No voucher, claim, or charge against the Town, other than vouchers
for the proper charges of the Regional Board of Education and the
Probate Court, shall be paid unless same has been audited under the
direction of the First Selectman and approved for correctness and
legality.
(h)
Drafts with the above exceptions shall be drawn by the First Selectman
for the payment of approved claims which drafts shall be valid only
when signed by the Treasurer and any two of the three Selectmen.
(i)
No official, agent, or Town agency shall involve the Town in obligations
to spend money for any purpose in excess of the amount appropriated
therefore.
(j)
The Board of Finance may have access, at all reasonable times, to
the records and books of account of the Town agencies.
(k)
The Town shall make no contribution to any organization unless so
authorized by Statute or by authorization of a Town Meeting. No contribution
of more than $500.00 per annum shall be made to any such organization
or corporation whose financial records are not submitted along with
its request for an appropriation to the Board of Finance.
Issuance of bonds and notes shall require approval by a Town
Meeting, except notes in anticipation of taxes, which notes are to
be paid within the fiscal year in which issued.
(a)
There shall continue to be a Reserve for Capital and Non-recurring
Expenditures Fund.
(b)
Upon the recommendation of the Board of Finance and approval of a
Town Meeting, there shall be paid into the Fund such amounts as may
be the following:
1.
Amounts authorized to be transferred thereto from the General Fund
cash surplus available at the end of any fiscal year, and/or
2.
Amounts raised by the annual levy of a tax of up to one and one-half
mill for the benefit of such fund, and for no other purpose, such
tax to be levied and collected in the same manner and at the same
time as the regular annual taxes of the Town.
(c)
The planning, construction, reconstruction, or acquisition of any specific capital improvement, or the acquisition of any specific item of equipment, of such category, character, or nature as not to be a purpose or object for which an appropriation is customarily made annually, shall qualify as capital and non-recurring expenditures. Upon the recommendation of the Board of Finance and approval of a Town Meeting, any part or the whole of such Fund may be used for the financing, in part or in full, of such projects or acquisitions. Upon the approval of any such project or acquisition, an appropriation shall be set up plainly designated for the specific project or acquisition for which it was authorized and such unexpended appropriation may continue, subject to the limitation of Subsection (d) hereof, until such project or acquisition is completed. Any unexpended portion of such appropriation remaining after such completion shall revert to the Fund.
(d)
Any appropriation set up pursuant to the provision of Subsection (c) hereof may at any time subsequent to the effective date of such appropriation, upon recommendation of the Board of Finance and approval of a Town Meeting, be terminated. If no expenditure from or encumbrance of any such appropriation has been made within the period of three fiscal years next succeeding the effective date of such appropriation, such appropriation shall be terminated upon approval of a duly warned Town Meeting. The fiscal year in which such appropriation was authorized shall be deemed the first fiscal year of such three-year period.
(a)
As prescribed elsewhere in this Charter, the Board of Finance may
retain such expert advice as it deems necessary.
(b)
The Board of Finance or the Board of Selectmen may initiate joint
meetings for purposes of discussions on long-range planning.
(c)
When any Town agency shall develop or plan to develop plans, they
shall so inform both the Board of Finance and the Board of Selectmen
and shall continue to inform both boards of any proposed plans.
(d)
The Board of Finance may require all Town agencies dependent on the
Town budget for any portion of their income to submit estimates for
future spending. Such estimates shall be based on fiscal years for
two years ahead of the current fiscal year and shall be the best estimates
of the present Town agency. The estimates shall be submitted as the
Board of Finance shall dictate as part of the preliminary budget in
each year.
