[Amended 6-4-2024 ATM by Art. 12]
There shall be a Finance Committee of at least four, but not more than 11 members. The Town Administrator, in consultation with the Moderator and Finance Committee Chair, shall appoint members for a term of three years. The Town Administrator shall attempt to provide that the terms are properly staggered so that an equal number of seats expire annually. The members of the Finance Committee shall elect from their number a Chair and Vice Chair. For voting purposes, the majority of the Committee shall be deemed to be a majority of the seats currently filled at any given time. However, at no time shall the Committee conduct business with less than four voting members present. No member of the Finance Committee shall hold office for more than four consecutive full terms or for a period not to exceed 12 consecutive years.
The Finance Committee may appoint from its own membership such subcommittees as it may deem advisable.
The Finance Committee shall have authority at any time to investigate the Town's accounts and the management of any department. The books, records and accounts of all departments of the Town shall be open to the inspection of the Finance Committee, or any of its authorized subcommittees, or any person authorized to act for said committees.
[Amended 6-4-2024 ATM by Art. 12]
All officers, boards, committees and departments authorized to expend Town money shall transmit in writing to the Select Board their estimate of the appropriation necessary for the conduct of their business for the next fiscal year at least 75 days prior to the date of the Annual Town Meeting. At least 60 days prior to the date of the Annual Town Meeting, the Select Board shall assemble these requests in such form as the Finance Committee may reasonably request and submit them to the Finance Committee, and the officers, boards, departments, or committees authorized to expend Town money shall present to the Finance Committee, in writing, a detailed list of their expenditures during the previous year. At least 30 days prior to the date of the Annual Town Meeting, the Select Board and Finance Committee shall vote on their budget recommendations. Said votes shall be final and shall not be subject to change except by vote at the Annual Town Meeting. It is further understood that the Finance Committee is an advisory committee to the Select Board and does not have the authority to override any budget decision made by the Select Board.
The Finance Committee shall prepare a report for insertion in the warrant for the Annual Town Meeting. The report shall contain the Finance Committee's recommendations for Town Meeting action on all requested appropriations together with recommendations on other matters in the warrant as, in its judgment, should be brought to the attention of the Town. Reports to all other Town Meetings shall be in such forms as the Finance Committee shall deem advisable.
[Amended 6-29-2020 ATM by Art. 11; 6-4-2024 ATM by Art. 12]
The members of the Finance Committee may receive a stipend determined by a vote of the Town at their Annual Town Meeting.
[Amended 6-4-2024 ATM by Art. 12]
Any registered voter of the Town shall be eligible for appointment to the Finance Committee except any regular full- or part-time Town employee. The Finance Committee members may not sit on another board, committee or commission without approval of the Select Board or bylaw requiring a Finance Committee representative. Said member must recuse him/herself on any Finance Committee vote of the budget or financial matter of that board, committee or commission on which they sit.