[Adopted as Art. II of the General Bylaws]
[Amended 12-6-2025 STM by Art. 2]
There shall be a Finance Committee for the Town consisting of five voters of the Town, who shall perform the duties set forth in the following sections of this article and be governed by the provisions thereof. The Committee shall be appointed as provided in § 35-2 of this article. Finance Committee members may serve as liaisons to other committees, boards, commissions, and/or ad hoc committees, as needed, to maintain communication and coordination between those bodies and the Finance Committee. Finance Committee members may serve on appointed committees, commissions, boards, or ad hoc committees, with voting rights, unless otherwise stipulated in the Town's bylaws.
[Amended 12-6-2025 STM by Art. 2]
A. 
As of the effective date of this by-law amendment, upon expiration of each current Finance Committee members' elected term of office, Finance Committee members shall be appointed by the Town Moderator: two members to serve for a term of one year, two members to serve for a term of two years, and one member to serve for a term of three years. Thereafter, Finance Committee members shall be appointed for terms of three years to succeed the members whose terms may expire that year, or to fill the balance of a term where a vacancy has occurred.
B. 
Any person appointed to the Finance Committee shall be a registered voter of the Town.
[Amended 5-9-2023 ATM by Art. 31]
The Finance Committee shall consider all articles in any warrant thereafter issued for any Town Meeting, Annual or Special, calling for the expenditure and/or transfer of money and report in writing or otherwise to the Town Meeting its recommendations as deemed to be in the best interest of the Town. No appropriation and/or transfer of money shall be made under the report of a committee or an individual until the matter has been considered and reported upon by the Finance Committee.
[Amended 5-9-2023 ATM by Art. 31; 12-6-2025 STM by Art. 2]
The Finance Committee shall submit a written report of its activities and any recommendations relative to financial matters for inclusion into the Town’s Annual Report.
[Added 12-6-2025 STM by Art. 2]
A. 
Review expenditures and commitments of each Town Department, committee or commission on a regular basis and identify significant variance for the Select Board's attention.
B. 
Hold quarterly meetings with the Select Board, Treasurer/Collector, Town Accountant and the Town Administrator to review the Town's financial obligations, revenues and budget status.
C. 
Review departmental budget submissions, hold meetings with the Select Board and make recommendations in preparing the annual budget for approval at the Annual Town Meeting.
D. 
The Finance Committee shall have control over the Town's Finance Committee Reserve Fund, which provides for extraordinary or unforeseen expenditures as defined by M.G.L. c. 40, § 6.