About the Board of Finance (BOF)
# of Members:
Party Balance Required?:
Six Years (no limit)
Town Charter - Article VIII
The Board of Finance conducts public hearings on the budget and
gives a budget recommendation for the RTM’s approval each year.
- Conducting budget hearings and recommending a budget each year for Representative Town Meeting approval.
- Recommending or rejecting itemized estimates of town expenditures for the next financial year.
- Considering cost estimates and other matters brought to its attention and preparing them for publication in a public forum.
- Submitting estimates with recommendations to the annual town
meeting. These meetings will take action on these estimates and
recommendations and make specific appropriations they view as advisable
without exceeding the Board of Finance estimate or using the
appropriation for a purpose not recommended by the Board of Finance
- After the Board of Assessment Appeals finishes its duties and
the Grand List has been completed, the BOF will meet and with due
provisions for estimated uncollectible taxes, abatements and
corrections, establish a tax on such list as shall be sufficient (along
with other sources of surplus or revenue) to not only pay the expenses
of the town for the current year but also to absorb the revenue
deficit of the town, if there is any, at the beginning of such current
- Prescribing a method by which and a place where records and
books of accounts of the town, or of any department of subdivision
thereof, shall be kept.
- May transfer unexpended balances from one appropriation to
another, but no amount appropriated for any purpose, whether general or
special, shall be used or appropriated for any other purpose without
Board of Finance approval.
- No expenditures or transfer shall be made from the contingent
fund until such expenditure or transfer has Board of Finance approval.
- Conducting monthly meetings and quarterly budget review meetings
- Appointing annual independent auditors.
- Preparing a comprehensive annual financial report for the fiscal year.