[HISTORY: Adopted by the Annual Town Meeting
of the Town of Groton 3-16-1970 ATM by
Art. 35, approved 4-30-1970; amended in its entirety 10-1-2018 ATM by Art. 13. Amendments noted where
applicable.]
GENERAL REFERENCES
Capital Planning Committee — See
Ch. 9.
Finances — See Ch. 16.
There shall be a Finance Committee that shall consist of seven
voters appointed by a three-person committee that shall consist of
the Chair of the Select Board, the Chair of the Finance Committee
and the Town Moderator; provided, however, that if the Chair of the
Finance Committee is being considered for reappointment, the Finance
Committee shall select another member who is not being considered
for reappointment. Members of the Finance Committee shall serve terms
of three years; provided, however, that the terms shall be so arranged
that the terms of office of as nearly an equal number of members as
possible shall expire each year. The Finance Committee shall appoint
a Chair and a Deputy Chair to run meetings and present the Finance
Committee's recommendations during the Town budget process.
A.
Whenever the Warrant for any Town Meeting contains an article or
articles under which an appropriation or expenditure of money may
be made, the Finance Committee shall consider such article or articles
after one or more public hearings thereon and shall report its recommendations
to the Town Meeting;
B.
Serve as the advisors to the Town meeting, the Select Board, the
Town Manager and the Department of Finance on all matters pertaining
to the budget, including budgeting strategy and goals and the balancing
of revenues and expenditures;
C.
Together with the Select Board, Town Manager and Department of Finance,
develop a budget strategy and set financial goals for each fiscal
year;
D.
Present the Finance Committee's annual budget at the spring
Town meeting;
E.
Consult with the Select Board and the Town Manager prior to collective
bargaining to develop a strategy aligning with the Town's long-term
budgetary strategy and goals;
F.
Review the preliminary results of collective bargaining to ensure
alignment with long-term budgetary strategy and goals; and
G.
Perform any other duties as may be required by law.
Annually, the Select Board and the Finance Committee shall review
and update the Town's overall financial management policy. When
reviewing and updating the policy, the Select Board and the Finance
Committee shall seek input from the Town Manager, the Department of
Finance and other advisors.
