The Finance Committee (FinCom) is a standing committee of the Town Meeting. Its purpose is to recommend a vote to Town Meeting on the Town budget and all articles that require an appropriation. The FinCom reviews each department's budget in detail and holds hearings on Town Meeting appropriation articles. In conjunction with the Town Administrator, the FinCom integrates revenue and expense projections to present a balanced budget to Town Meeting.
Hearings are usually held at Town Hall. Agendas, minutes, and upcoming meetings can be found on this page. Only the approved minutes are posted.
The FinCom operates under the Town's bylaws. This article establishes a seven-member board with a 3-year term for each member, defines eligibility, directs the committee to elect its own officers, authorizes a paid part-time secretary, and requires the committee to report to Town Meeting on all appropriation articles. The FinCom approves requests for fund transfers and approves transfers from the reserve fund to department budgets within the limits set by State law.
Massachusetts General Law, Chapter 39, Section 16: Appropriation, advisory or finance committees; appointment; tenure; powers and duties-
Every town whose valuation for the purpose of apportioning the state tax exceeds one million dollars shall, and any other town may, by by-law provide for the election or the appointment and duties of appropriation, advisory or finance committees, who shall consider any or all municipal questions for the purpose of making reports or recommendations to the town; and such by-laws may provide that committees so appointed or elected may continue in office for terms not exceeding three years from the date of appointment or election.
In every town having a committee appointed under authority of this section, such committee, or the selectmen if authorized by a by-law of the town, and, in any town not having such a committee, the selectmen, shall submit a budget at the annual town meeting.