[HISTORY: Adopted by the Town Meeting of the Town of Merrimac as Art. III of the 2016 General Bylaws. Amendments noted where applicable.]
[Amended 4-28-2014 ATM; 4-29-2024 ATM by Art. 20]
In accordance with MGL c. 39, § 16, the Town shall establish a Finance Committee. The Town Moderator shall appoint a Finance Committee to consist of not more than nine members, each a registered voter of the Town. A majority of the members appointed shall constitute a quorum. The Finance Committee shall be appointed annually to terms that begin and end with the Town's fiscal year, July 1 through June 30. The Moderator may appoint members during the fiscal year to fill any vacancies that reduce the number of members to fewer than nine members.
The heads of the boards and departments of the Town shall, not later than January 1 prior to the next Annual Town Meeting, submit to the Finance Committee their budget estimates for the ensuing year, on forms approved by the Finance Committee.
No one shall be eligible for the appointment to the Finance Committee or shall serve as a member of the Finance Committee who is an elected or appointed official of the Town.
If a vacancy occurs of the Finance Committee, either by reason of death, resignation, as described in § 45-6 of this chapter, or in any other way or fashion, said vacancy shall be filled by appointment of the Moderator.
[Amended 5-29-1979 ATM]
No action shall be taken at any meeting appropriating or involving the expenditure of money, the creation of a debt, or disposal of property of the Town until the proposition has been referred to the Finance Committee with a specific money amount included at least 15 days prior to Town Meeting.
Members absent from 1/3 of the regular meetings in any calendar year may be removed by a two-thirds vote of the other members present and voting. Said Committee shall choose its own officers. The members of said Committee shall serve without salary.
In the discharge of its duty, said Committee shall have free access to all books or records and accounts having to do with the financial affairs of the Town, including bills and vouchers on which money has been or may be paid from the Town treasury. Requests for information from the Committee shall be responded to by Town officers, boards, committees or departments in a reasonable manner and in a reasonable time frame. However, the provision of such access (including requests for information) shall not unduly interfere with the conduct of official Town business or the ability of Town employees to perform the functions of their positions.
[Amended 4-28-2008 ATM]
The Select Board shall establish and appoint a committee to be called the "Capital Planning Committee."
A. 
The Committee shall be composed of one member of the Select Board, one member from and appointed by the Finance Committee, the Finance Director and three members at large.
B. 
The representatives from the Select Board and Finance Committee shall serve one-year terms.
C. 
The Finance Director shall serve as an ex officio member with voting authority limited to administrative and procedural questions and during discussions prior to final votes.
D. 
The members at large shall serve a three-year rotating term. The Committee shall elect its own officers to annual posts.
[Amended 4-28-2008 ATM; 4-24-2023 ATM by Art. 24]
The purpose of the Capital Planning Committee is to evaluate the financial effect of proposed capital projects and make recommendations, including necessary guidelines for the procurement, improvement and maintenance of these major assets and projects. Only assets which have a useful life greater than five years, costing over $20,000 and/or for which the Town is authorized to borrow funds are items which fall under the purview of the Capital Planning Committee.
[Amended 4-28-2008 ATM]
All department heads, boards and committees, School Committee included:
A. 
Shall submit their anticipated capital requests for the next fiscal year and subsequent five years on the forms supplied to them by the Capital Planning Committee, on or before February 1 prior to the next fiscal year, or 45 days before a Special Town Meeting.
B. 
The Capital Planning Committee shall decide on emergency requests as deemed necessary. All properly submitted capital requests shall be evaluated.
[Amended 5-6-1996 ATM]
The Capital Planning Committee shall prepare and submit to the Select Board and Finance Committee by March 15 an Annual Budget Report for the ensuing fiscal year.
A. 
This budget report shall cover all capital assets and projects that have already received funding as well as any capital items considered in the next five years.
B. 
The Select Board shall request clarification or make any recommendations and requests within 30 days.
C. 
The Annual Budget Report shall be submitted to the Annual Town Meeting and any Special Town Meetings.
[Amended 5-6-1996 ATM]
The Capital Planning Committee Annual Budget Report shall be printed, included and distributed with the report of the Finance Committee. An official copy of the Committee's Annual Budget Report shall be on file with the Town Clerk.