[Code of Bylaws, § 2-89; Bylaws Art. 5 § I, 5-4-1974; Bylaws Art. 82 § 1, 5-4-1974; Bylaws Art. 62, 4-7-1984; Bylaws Art. 65, 5-3-1994; Bylaws Art. 35, 5-1-2001; Bylaws Art. 39, 5-1-2007; 5-7-2024 ATM by Art. 17]
There shall be a finance committee of seven members, none of which shall hold any other elective or appointive position of the town except as provided in this subsection. The members of the committee shall be appointed by the moderator immediately following the adjournment of the annual town meeting. The appointments shall be so arranged so that as nearly equal number of members as possible shall expire each year. After the first annual town meeting following adoption of the bylaw codified in this chapter, the moderator shall appoint one member for a three-year term. After the next subsequent annual town meeting, the moderator shall appoint two members for three-year terms and one member for a two-year term, with all subsequent appointments to be for three years.
The term of every member so appointed shall expire at the conclusion of the annual town meeting in the final year of the member's term. Any member of the finance committee who accepts an elective or appointed office during the term for which he or she is appointed shall vacate his or her office on the finance committee, provided, however, that members of the finance committee may be appointed by the finance committee or the town manager to other committees or subcommittees as authorized in other sections of the Millbury Municipal Code or as may be needed to provide financial perspective as a representative of the finance committee as determined by the finance committee or the town manager. All vacancies on the committee shall be filled by the moderator for the unexpired term.
[Code of Bylaws, § 2-90; Bylaws Art. 5, § 2, 5-4-1974; Bylaws Art. 36, 5-1-2001]
The finance committee shall consider matters relating to the appropriation, the borrowing and the expenditure of money by the town, its indebtedness, the methods of administration of its various officers and departments, and may make recommendations or reports as it deems necessary to the town, or any town board, officer or committee relative to such matters and all other municipal affairs. In the discharge of its duties, such finance committee shall have free access to all pertinent information in the possession of any town board, officer or committee. Further duties are detailed in Article 2, Section 2-3(b) of the Millbury Town Charter, "Finance Committee."
[Code of Bylaws, § 2-91; Bylaws Art. 5 § 3, 5-4-1974; Bylaws Art. 82 § 3, 5-4-1974; Bylaws Art. 37, 5-1-2001]
The various town boards, officers and committees charged with the expenditure of town money shall, not later than the twenty-first of December of each year, prepare detailed estimate of the amounts deemed by them necessary for the administration of their respective offices or departments for the ensuing fiscal year with explanatory statements of the reasons for any changes from the amounts in the preceding year. They shall also prepare estimates of all probable items of income, which may be received by them during the ensuing year in connection with the administration of their departments or offices, and a statement of the amounts of appropriations requested by them for the ensuing fiscal year. Such estimates and statements shall be filed with the town manager who shall transmit the same to the finance committee, per Article 6, Section 6-4 of the Millbury Town Charter, "Submission of Budget and Budget Message."
[Code of Bylaws, § 2-92; Bylaws Art. 5 § 4, 5-4-1974]
The finance committee shall duly consider the estimates and statements filed by the town boards, officers and committees and hold hearings if they deem it advisable. The finance committee shall thereupon approve or disapprove such sums in whole or in part and in such division of items as it considers necessary and convenient.
[Code of Bylaws, § 2-93; Bylaws Art. 5 § 5, 5-4-1974; Bylaws Art. 38, 5-1-2001]
All articles in any warrants for a town meeting or special town meeting shall be referred to the finance committee which shall proceed in accordance with Article 6, Section 6-7 of the Millbury Town Charter, "Action on the budget," as follows:
(a) 
Public hearing. Forthwith upon its receipt of the proposed operating budget, the finance committee shall provide for the publication in a local newspaper of a notice stating the time and place, not less than seven nor more than 14 days following such publication, at which it will hold a public hearing on the proposed operating budget as submitted.
(b) 
Review. The finance committee shall consider, in open public meetings, the detailed expenditures proposed for each town agency and may confer with representatives of each such agency in connection with its review and consideration. The finance committee may require the town manager, or any other town agency, to furnish it with such additional information as it may deem necessary to assist it in its review and consideration of the proposed operating budget.
(c) 
Action by Town Meeting. The finance committee shall file a report containing its recommendations for the action to be taken by the town meeting on each line item in the proposed operating budget; this report shall be available at least seven days before the date on which the town meeting acts on the proposed budget. When the amendments which have been submitted subsequent to its initial filing are before the town meeting for action, it shall first be subject to amendments, if any, proposed by the finance committee before any other amendments shall be proposed.