(a) 
Members of the Board of Finance shall be elected, vacancies shall be filled, and expenses shall be provided, all in accordance with Charter Article IV.
(b) 
At the first meeting following the municipal election in which the Board members are elected, the Board of Finance shall meet and elect from its membership a chair who shall preside over its meetings, a vice chair who shall act as chair in the absence of the chair, and a clerk who shall be responsible for seeing that records are maintained and minutes and other records of the meetings and proper copies thereof are filed with the Board of Selectmen and the Town Clerk in accordance with the Statutes and Charter Article IV.
(c) 
The Board shall, as its next order of business, establish a schedule of regular meetings to be not less than 10 in any calendar year and which shall include the Public Hearing held two weeks prior to the Annual Town Budget Meeting. The Board shall post the schedule in the Town Clerk's Office and shall notify the chairs of those Boards, Committees and agencies of the Town dependent on the Town budget for any portion of their operating income.
(d) 
The Board of Finance shall have its own budget which shall contain an appropriation for the purpose of retaining a certified public accountant to audit the Town books in accordance with the Statutes and another appropriation for the just and necessary expenses of Board members incurred in fulfillment of their duties. These sums shall be available for the purpose of retaining a secretary and such sources of expert advice on financial matters as the Board shall determine.
The Board of Finance shall have powers and duties in accordance with CGS § 7-340 through CGS § 7-349 and this Charter. The Board of Finance shall be the chief financial authority of the Town. The Board of Finance shall be responsible for the following:
(a) 
preparation of the budget for the following fiscal year,
(b) 
the management and monitoring of the budget for the current fiscal year,
(c) 
the development of long-range financial planning, and
(d) 
the development of guidelines for salaries and mileage reimbursement rates and the communication of these guidelines to the Board of Selectmen on an annual basis.
(a) 
By the second Monday in February, the Board of Finance shall meet with the Board of Selectmen to discuss the priorities for the Town in the coming fiscal year.
(b) 
By the second Monday in March, the Board of Finance shall determine the probable total income of the Town for the forthcoming fiscal year. This shall include an estimate of the funds from state and federal sources which will or may become available to the Town.
(c) 
By the third Monday in March, the Board of Finance shall receive the preliminary Town Budget from the Board of Selectmen.
(d) 
By the first Monday in April, the Board of Finance shall review the preliminary Town Budget submitted by the Board of Selectmen, together with estimates of income, and prepare the final preliminary Town Budget. The Board of Finance may request additional information from the Board of Selectmen or other agencies.
(e) 
By the third Monday in April, the Board of Finance shall review the final preliminary Town Budget with the Board of Selectmen and shall indicate the reason for any change made to the preliminary Town Budget submitted by the Board of Selectmen.
(f) 
By the fourth Monday in April, printed copies of the final preliminary Town Budget shall be available at the Town Clerk's Office and at such other locations as the Board may prescribe.
(g) 
By the first Monday in May, the Board of Finance shall hold a Public Hearing, which shall be one of its regular meetings, on the final preliminary Town Budget.
(h) 
Those wishing changes in the budget as proposed by the Board of Finance shall communicate their views at the Public Hearing. After the Public Hearing, the Board shall draft its final recommended budget and provide the Board of Selectmen a description of the budget items changed, along with the reason(s) why further major deletions or additions were necessary.
(i) 
The final recommended budget as proposed by the Board of Finance shall be presented for adoption at the Annual Town Budget Meeting called for that purpose. Copies of the final recommended budget shall be available no later than the second Monday in May at the Town Clerk's Office and elsewhere as the Board of Finance may prescribe. The Annual Town Budget Meeting may delete or decrease the budget amounts but may not increase budgeted amounts or add additional items into the budget.
(j) 
In the event that the Town shall fail to pass the recommended budget subsequent Town Meetings shall be called by the Board of Selectmen at intervals no greater than 14 days until a budget is passed.
(k) 
When the budget is approved, the Board of Finance shall see that it is promptly made available to Town agencies and the public through the Town Clerk's Office. Detailed expenditures used by the Board of Finance in determining its final budget, shall also be made available to the Board of Selectmen and each respective Town agency.
(l) 
Within one week after the acceptance of the annual budget and all other budgets which determine the total budget of the Town, the Board of Finance shall meet and levy a tax on the Grand List sufficient, in addition to other estimated yearly income of the Town, to pay the expenses and appropriations of the Town for the following year, and also to absorb any revenue deficit of the Town at the end of the current fiscal year.
(m) 
The Tax Collector shall then collect the tax in accordance with the Statutes; the due date shall be July 1 and January 1 unless otherwise changed by Town Meeting. The Tax Collector shall submit monthly reports to the Board of Finance as to the progress of collections.
(a) 
The Board of Finance shall prescribe as it deems necessary such periodic reporting of income and expenditures from all Town agencies dependent on the Town budget for any portion of their income.
(b) 
The Board of Finance shall review the budget monthly for the purpose of seeing that expenditures are proceeding according to plan. When the Board finds serious deviations, it shall review the matter with the Board of Selectmen. The Board of Finance may require a new set of monthly budget estimates for that portion of the fiscal year remaining. The Board of Finance shall annually designate a certified public accountant or firm of certified public accountants to audit the books and accounts of the Town in accordance with the Statutes.
(c) 
In the event that a Town agency requires a sum of money greater than its current appropriation, it shall inform the Board of Selectmen in writing. At its next meeting following the receipt of the request, the Board of Selectmen shall determine what referral, if any, to make. The Board of Selectmen shall inform the Board of Finance of its determinations in all such matters and, shall forward all necessary documentation to the Board of Finance.
The Board of Finance may take one or more of the actions listed below. If the Board of Finance takes any action, the Board of Finance shall inform the Board of Selectmen, in writing, of any action taken and the reasons therefore.
1. 
The Board of Finance may allot a sum of money to the requesting Town agency from a contingency fund or unappropriated cash surplus fund for such purpose in an amount not exceeding $25,000 without the approval of a Town Meeting. In any fiscal year, the Board of Finance shall not make supplementary appropriations totaling in aggregate more than $25,000 to any one Town agency without approval of a Town meeting.
2. 
The Board of Finance may transfer all or part of the unexpended balance of any appropriation to the requesting Town agency. An "unexpended balance" means that part of any appropriation which the requesting agency or any other Town agency has determined that it will not expend during the current fiscal year.
3. 
The Board of Finance may request the Board of Selectmen to call a Special Meeting of the Town for the purpose of allotting a sum of money, from any contingency fund available for such purpose in an amount recommended by the Board of Finance, to the requesting agency.
If denied by the Board of Selectmen, no further action shall be taken by the Board of Finance.
(d) 
When the Town is maintaining a reserve fund for a Capital Expenditures Program and capital and non-recurring expenditures in accordance with the Statutes, payments into and appropriation from these funds shall be made only upon the recommendation of the Board of Finance and approval by a Town Meeting and the Board of Selectmen.
(e) 
A special appropriation or transfer of unexpended balances, and payment into or appropriation from the fund for capital and non-recurring expenditures require Town Meeting approval in accordance with this Charter and may be decreased by a Town Meeting, but may not be increased. A Town meeting may make no special appropriation or transfer of funds not recommended by the Board of Finance.
(f) 
Special appropriations other than those from surplus revenue or from an approved contingency fund may be made only by vote of a Town Meeting or recommendation of the Board of Finance.
(g) 
The provisions of Charter § 9-4 shall not be a limitation on the power of the Town to issue bonds or other obligations for appropriations or indebtedness in accordance with the Statutes and this Charter.
(a) 
The fiscal year of the Town shall begin on July 1 and end on June 30 of the following calendar year.
(b) 
The system of accounts used by Town agencies shall be in accordance with the Statutes as supplemented by regulations of the Board of Finance.
(c) 
The regulations of the Board of Finance shall also designate the forms and procedures for orders to be drawn on the Treasurer by the Board of Selectmen.
(d) 
All officers, Boards, Commissions, and Committees shall comply with the regulations of the Board of Finance required by Charter § 9-5. Such regulations shall be adopted and may be amended by vote of the Board of Finance and shall not be inconsistent with this Charter or the Statutes.
(e) 
The Board of Finance, at the end of the fiscal year, shall send a request to all budgeted agencies for a written summary of their activities and accomplishments for that year. This summary report shall be returned by each such agency no later than 45 days thereafter, except for financial reports requiring prior review by an auditor, these being due within 60 days. The Board of Finance shall then compile an Annual Town Report (CGS § 7-406) which incorporates the material thus received, as well as the auditor's report. The Annual Town Report shall be made available for examination prior to a Town Meeting called to approve the report. This meeting is to be held before January 31 of the following year.
(f) 
Purchases by an office or Town agency, other than where otherwise indicated by the Statutes, for supplies, materials, services, equipment and other budget commodities that are to become the property of the Town, shall be made under such rules and regulations as may be established by the Board of Selectmen and shall meet the approval of the Board of Finance. Bidding procedures then currently in effect and on file in the Selectman's Office that consider quality, experience, and costs shall be used on all purchased items costing in excess of $20,000, except as otherwise provided by Ordinance, or with approval of the Town Meeting, and only with the approval of the Board of Finance.
(g) 
No voucher, claim, or charge against the Town, other than vouchers for the proper charges of the Regional Board of Education, shall be paid unless same has been reviewed under the direction of the First Selectman and approved for correctness and legality.
(h) 
Drafts with the above exceptions shall be drawn by the First Selectman for the payment of approved claims which drafts shall be valid only when signed by the Treasurer and any two of the three Selectmen.
(i) 
No official, agent, or Town agency shall involve the Town in obligations to spend money for any purpose in excess of the amount appropriated therefore.
(j) 
The Board of Finance may have access, at all reasonable times, to the records and books of account of the Town agencies.
(k) 
The Town shall make no contribution to any organization unless in accordance with the Statutes or by authorization of a Town Meeting. No contribution of more than $500 per annum shall be made to any such organization or corporation whose financial records are not submitted along with its request for an appropriation to the Board of Finance.
Issuance of bonds and notes shall require approval by a Town Meeting, except notes in anticipation of taxes, which notes are to be paid within the fiscal year in which issued.
(a) 
There shall continue to be a Reserve for Capital and Non-recurring Expenditures Fund.
(b) 
Upon the recommendation of the Board of Finance and approval of a Town Meeting, there shall be paid into the Fund such amounts as may be the following:
1. 
amounts authorized to be transferred thereto from the General Fund cash surplus available at the end of any fiscal year, and/or
2. 
amounts raised by the annual levy of a tax in accordance with CGS § 7-361 for the benefit of the Fund, and for no other purpose, such tax to be levied and collected in the same manner and at the same time as the regular annual taxes of the Town.
(c) 
The planning, construction, reconstruction, or acquisition of any specific capital improvement, or the acquisition of any specific item of equipment, of such category, character, or nature as not to be a purpose or object for which an appropriation is customarily made annually, shall qualify as capital and non-recurring expenditures. Upon the recommendation of the Board of Finance and approval of a Town Meeting, any part or the whole of the Fund may be used for the financing, in part or in full, of such projects or acquisitions. Upon the approval of any such project or acquisition, an appropriation shall be set up plainly designated for the specific project or acquisition for which it was authorized and such unexpended appropriation may continue, subject to the limitation of Charter § 9-7 (d), until such project or acquisition is completed. Any unexpended portion of such appropriation remaining after such completion shall revert to the Fund.
(d) 
Any appropriation set up pursuant to the provision of Charter § 9-7 (c) may at any time subsequent to the effective date of such appropriation, upon recommendation of the Board of Finance and approval of a Town Meeting, be terminated. If no expenditure from or encumbrance of any such appropriation has been made within the period of three fiscal years next succeeding the effective date of such appropriation, such appropriation shall be terminated upon approval of a duly warned Town Meeting. The fiscal year in which such appropriation was authorized shall be deemed the first fiscal year of such three-year period.
(e) 
The Board of Finance, a Town Meeting, and Town officials who may be concerned with the operation of the Fund shall have any and all further powers, contained in CGS § 7-359 to 7-368 necessary to implement and administer the operation of the Fund and not specifically granted herein.
(a) 
The Board of Finance may retain such expert advice as it deems necessary (Charter § 9-1(d)).
(b) 
The Board of Finance or the Board of Selectmen may initiate joint meetings for purposes of discussions on long-range planning.
(c) 
When any Town agency shall develop or plan to develop plans, they shall so inform both the Board of Finance and the Board of Selectmen and shall continue to inform both Boards of any proposed plans.
(d) 
The Board of Finance may require all Town agencies dependent on the Town budget for any portion of their income to submit estimates for future spending. Such estimates shall be based on fiscal years for two years ahead of the current fiscal year and shall be the best estimates of the present Town agency. The estimates shall be submitted as the Board of Finance shall dictate as part of the annual preliminary budget preparation in each year.