A. 
The Committee on Finance and Property shall, upon receiving the proposed budget for the ensuing fiscal year from the Mayor, cause a notice to be published in a local newspaper stating the date, time and place, not less than seven days nor more than 14 days following such publication, at which it will hold a public hearing on the proposed budget as submitted by the Mayor.
B. 
The Committee on Finance and Property shall in open public sessions consider the recommendations of the Mayor. The Committee may require the Mayor, or any City officer or City employee, to appear before it to provide such information as the Committee may deem needed in its review of the proposed budget.
C. 
The Committee on Finance and Property shall submit its recommendations to the City Council in a form which provides the full Council with all relevant information on which to base its action on the appropriations to be made for the ensuing fiscal year.
The Committee on Finance and Property shall have the power to call upon any agency of the City government to submit for inspection by it the agency's books and vouchers, and to furnish any information pertaining to the financial conduct of the departments. The Budget/Management Analyst employed by the City Council shall have the same power and authority.
[Amended 5-20-2024 by Ord. No. 046]
A. 
(Reserved)
B. 
From time to time throughout the year, as often as it shall deem it expedient, the Committee shall examine and audit the accounts of the Department of Municipal Finance; and for that purpose shall have access to all books and vouchers in possession of this department. The Committee shall not only compare such accounts with the vouchers therefor, but shall also ascertain by actual proof, as shown by the books, whether all moneys due the City have been collected and accounted for; the Committee shall also examine all notes and securities in the City Treasurer's hands, or in the hands of the Board of Commissioners of Trust Funds belonging to the City, and make report thereof to the City Council. The Committee may authorize the Budget/Management Analyst to perform this function for it.
[Amended 10-8-2008 by Ord. No. 171; 3-6-2013 by Ord. No. 21; 4-16-2019 by Ord. No. 327; 5-20-2024 by Ord. No. 046]
A. 
Establishment and composition. There is hereby established a Financial Forecasting Committee. Such Committee shall be composed of nine members: two members of the City Council and a resident, appointed by the City Council President; two ward School Committee members and a resident, appointed by the School Committee President; and a resident, who shall not be an elected official, appointed by the Mayor; the Finance Director, and the School Department Business Manager. The City Council Budget/Management Analyst shall be appointed as an ex-officio member.
B. 
Term of appointment; vacancies. Each member shall serve for a term of two years, or until a successor is appointed. The term of each Committee member who is an elected official shall terminate on December 31 of each successive odd-numbered year. The term of each Committee member appointed as a resident representative shall terminate on December 31 of each successive even-numbered year. In the event of a vacancy during a member's term, a successor shall be selected in the same manner as the departing member for the remainder of the unexpired term.
C. 
Authority and responsibilities.
(1) 
The Committee shall consider financial goals and objectives, conduct long-range financial planning, evaluate the City budget process, explore ways to acquire revenue, and advise City officials on these matters. Each official and employee of the City shall cooperate with the Committee in the discharge of its duties.
(2) 
By the end of each calendar year, the Committee shall file a report of its activities, projections, conclusions and recommendations with the City Clerk, the School Committee, the City Council and the Mayor.