[Adopted 2-27-1971 ATM, Art. 20; amended 6-6-1972 STM, Art. 8; 2-24-1973 ATM, Art.
25]
[Amended 4-29-2005 ATM, Art. 25]
There shall be a Finance Committee, hereinafter
called the "Committee," consisting of up to nine (9) residents of
the Town, other than Town officers, appointed by the Moderator. A
quorum of the Committee shall constitute a majority of the then-appointed
members of the Committee.
[Amended 4-27-2001 ATM, Art. 25; 4-29-2005 ATM, Art. 25]
The Moderator shall appoint members of the Committee
for alternating three-year terms, the expiration date being August
15 after the Annual Town Meeting.
[Amended 4-29-2005 ATM, Art. 26]
Any member who shall move from the Town shall
cease to be a member of the Committee.
Any member of the Committee who shall be appointed
or elected to Town office or a committee or board other than the Personnel
Board, Capital Budget Committee or Town Building Committee shall forthwith,
upon his qualification in such office, cease to be a member of the
Committee, unless continuance in membership is unanimously voted by
the Committee.
The Committee shall elect its own officers,
said officers to consist of a Chairman, Vice Chairman and Clerk. The
Clerk shall keep written minutes of all regular and special meetings
of the Committee.
Members absent from more than one-third (1/3)
of the meetings in any calendar year, failing to actively participate
in subcommittee duties or failing to complete designated responsibilities
may be removed by a two-thirds vote of the other members.
Members of the Committee shall serve without
salary.
In the event of any vacancy in its membership,
the Committee shall notify the Moderator, in writing, who shall, within
twenty (20) days, make an interim appointment to fill the vacancy.
The Committee shall consider any and all matters
of Town business included within the articles of any warrant for a
Town Meeting and shall, after due consideration, report to the Town
Meeting its recommendation as to each article of such Town Meeting
warrant.
All recommendations shall be those of a majority
of the Committee but shall not exclude or prevent a minority report.
The recommendations shall state the total amount of the appropriations
recommended by the Committee on the entire warrant and the approximate
tax rate or effect, if applicable, based on such recommendations.
The Committee report for the Annual Town Meeting
shall contain a statement of the actions of the Committee during the
year, with such recommendations and suggestions as the Committee may
deem advisable. The Committee may issue recommendations on referenda
and other matters on any ballot, other than the choice of individuals
for offices.
The Chairman of the Committee shall be furnished
a copy of each Town Meeting article, the wording being exactly as
appearing on the warrant, no later than forty-eight (48) hours before
posting of said warrant, and it shall be dated by the Chairman upon
receipt of the copy.
The Committee shall administer the reserve fund,
an amount to be established at each Annual Town Meeting, making transfers
from said fund to meet unforeseen or extraordinary expenses which
may be incurred by the various Town boards, officers, departments
or committees. Requests for transfers from the reserve fund shall
be made to the Committee on forms provided by the Committee.
The Committee shall have authority at any time
to examine the books, accounts and fiscal management of any department
of the Town and to employ such expert or other assistance as it may
deem advisable for that purpose.
The books and accounts of all departments and
officers of the Town shall be open to the inspection of the Committee
and any person employed by it for that purpose.
The Committee may appoint subcommittees from
within its membership and delegate to them such of its powers as it
deems expedient.
The Committee shall consider the estimates and
statements filed by the Town boards, officers and committees and may
confer with said boards, officers and committees and hold hearings
if the Committee deems necessary.
[Amended 11-21-1974 STM, Art. 1]
The various Town boards, officers and committees
charged with the expenditure of Town moneys shall, not later than
ninety (90) days prior to the Annual Town Meeting, prepare detailed
estimates, in writing, of the amounts deemed by them to be necessary
for the administration of their respective offices and departments
for the coming fiscal year. Explanatory statements of the reasons
for any changes from the total of amounts provided for the same purpose
in the current year shall be included.
Estimates of all items of income which may be
received during the ensuing year in connection with the operation
of the various departments or offices shall be filed with the Committee.
The Committee shall thereupon recommend to the Town such sums and
such division of items as it considers necessary and desirable.
The Committee shall be furnished a copy of the
monthly accounting of disbursements, said copy to show the amount,
department, budget item number and items of expenditure.
These bylaws may be amended by a majority vote
at any Town Meeting.
