(a)
There shall be a Board of Finance consisting of six members appointed as provided in Article VII.
(b)
Except to the extent otherwise provided by this Charter, the Board of Finance shall, in all respects, be governed by and shall have all the duties, responsibilities and powers provided for in general law.
(c)
The Board of Finance shall have an organizational meeting during the month of July each year, at which meeting it shall adopt a schedule of not less than 10 regular meetings to be held during such fiscal year and shall elect one of its appointed members to be Chairperson and one of its appointed members to be Vice Chairperson, each to serve for such fiscal year and until his/her successor shall have been elected. Special meetings of the Board of Finance shall be called upon the request of the Chairperson, or upon the written request of any two members.
[Amended 5-2-1983, effective 6-1-1983]
At all meetings of the Board of Finance four appointed members shall constitute a quorum; provided, however, that no action may be taken without the concurrence of at least three members, one of whom may be the First Selectman, of the Board of Finance. [Amended 11-7-1972, effective 1-1-1973] |
(d)
All records and books of accounts of the Town, except those of the Board of Education, shall be in the custody of the Board of Selectmen, or such other place as the Board of Selectmen shall designate, and the Board of Finance may have access thereto at all reasonable times.
(e)
The Board of Finance shall conduct a continuous review of the current and projected financial needs of the Town, including the utilization of current appropriations by each spending agency. Without limiting the generality of the foregoing, the Board of Finance may:
(1)
Request and receive from any spending agency statements of its current and projected financial position and needs at any time or times; and
(2)
Establish rules of procedure pertaining to reporting by and budget preparation of all spending agencies, including the determination of the form and content of requests for appropriations, the preliminary budget and the recommended budget, and thereby determine what constitutes a budget item and an appropriation, provided that no such general rule shall be effective until after the text thereof shall have been transmitted to all spending agencies and until after a public hearing, duly warned, shall have been held thereon.
[Added 11-7-1972, effective 1-1-1973; amended 5-7-1979, effective 7-1-1979]
(f)
The Board of Finance shall be responsible for the preparation of any annual capital expenditure projection setting forth the amount, purpose and proposed method of financing of capital expenditures for the following five fiscal years, which projection shall be distributed or published with the financial statement as provided in § 6-2(e).
[Added 11-7-1972, effective 1-1-1973; amended 5-7-1979, effective 7-1-1979]
(g)
No member of the Board of Finance shall receive compensation for his/her services as such nor hold any office or membership on any board of which compensation from the Town treasury is received, but the necessary expenses of the Board shall be paid by the Town upon prior approval of the Board of Selectmen.
[Added 11-7-1972, effective 1-1-1973]