7-1-1 
A Finance Committee of nine members and two alternates shall be appointed by the Moderator for three-year overlapping terms with the approval by vote of the Town Meeting.
7-1-2 
Any person duly appointed to the Finance Committee shall take up the duties of the office upon final adjournment of the Annual Town Meeting, after having been sworn to the faithful performance of the duties of the office by the Town Clerk.
7-1-3 
Vacancies on the Finance Committee shall be filled by the Moderator within thirty days on an interim basis. Such appointments shall be approved by vote of the next Special or Annual Town Meeting. Any person appointed to fill out an unexpired term shall take up the duties immediately after being been sworn to the faithful performance of the duties of the office by the Town Clerk.
7-1-4 
No member of the Finance Committee shall hold any other Town office, except that of a member of the Personnel Board, unless appointment to another Town office is specifically authorized by the Moderator.
7-2-1 
On or before the thirty-first of October of each year, the Selectboard shall prepare and issue a policy statement relating to the budget for the ensuing fiscal year. The statement shall recommend the outer limits of possible budget growth for all municipal departments. The policy statement shall be sent to all officials responsible for preparing budget requests. A copy of the statement shall be filed with the Town Clerk.
7-2-2 
On or before the thirty-first of October of each year, the Selectboard and the Finance Committee shall set a date by which the Town Administrator shall submit to them the comprehensive budget for all Town functions for the ensuing fiscal year and an accompanying budget message, unless otherwise provided by MGL or bylaws.
7-2-3 
The message shall explain the budget both in fiscal terms and in terms of work programs and shall be filed with the Town Clerk when issued. It shall:
(a) 
outline the proposed financial policies of the Town for the ensuing fiscal year;
(b) 
describe the important features of the budget;
(c) 
indicate any major changes from the current year in financial policies; expenditures, and revenues, together with the reasons for such changes;
(d) 
summarize the Town's debt position; and
(e) 
include such other material as may be deemed appropriate.
7-2-4 
The budget shall provide a complete financial plan for all Town funds and activities and shall be in such form as the Finance Committee may require. It shall indicate proposed expenditures for both current operations and capital projects during the ensuing year, detailed by departments, offices, committees, and purposes.
7-5-1 
The Town Administrator shall, after consultation with members of the Finance Committee, prepare a five year Capital Improvement Plan in a form approved by the Finance Committee, consistent with standards established by the Finance Committee. The Plan shall include:
(a) 
a clear summary of its contents;
(b) 
a list of all capital improvements proposed to be undertaken during the next five fiscal years, together with supporting data;
(c) 
cost estimates, methods of financing, and recommended time schedules; and
(d) 
the estimated annual cost of operating and maintaining the facilities to be constructed or acquired. The information may be revised and shall be extended each year with regard to capital improvement spending or in the process of construction or acquisition.
7-5-2 
The Capital Improvement Plan shall be submitted to the Finance Committee and the Selectboard not later than the first of October. Within sixty days the Finance Committee shall prepare and submit a report and its recommendations on the Capital Improvement Plan to the Town Administrator and the Selectboard. A copy of the report shall be filed with the Town Clerk.
7-5-3 
The Finance Committee shall publish, in one or more newspapers of general circulation in the Town, a general summary of the Capital Improvement Plan and a notice stating:
(a) 
the times and places where copies of the Capital Improvement Plan are available for inspection; and
(b) 
the date, time, and place, not less than seven days following such publication, when the Committee shall conduct a public hearing on said plan.
7-7-1 
At least thirty days before the end of each fiscal year, the Selectboard shall retain a certified public accountant or an accounting firm to make an audit of all accounts, books, records, and financial transactions of every department and committee, including the School Department.
7-7-2 
A copy of every auditor's report shall be filed with the Town Clerk and shall be a public record. A summary thereof shall be published in the next Annual Town Report.