The Finance Committee shall consist of seven (7) voters of the Town other than Town Officers or employees. Three terms shall expire in 1989, two terms shall expire in 1990 and two terms shall expire in 1991. The Moderator shall, annually, within thirty (30) days of his election appoint to the Finance Committee members for terms of three years each to fill vacancies that exist at that time. Any members of said committee who shall be elected to any other Town Office, or shall move from the Town, or who shall be employed by the Town, shall, upon qualifying for the Office to which he was elected, or by his removal from the Town, or by the previously stated employment, cease to be a member of said committee.
In addition to the above, the Moderator shall also fill vacancies that may occur during a three (3) year term due to resignation or removal of any member from the Committee for any reason whatsoever.
The membership shall choose from its membership a Chairman, Vice Chairman and Secretary.
It shall be the duty of the Committee to consider any or all municipal questions for the purpose of making reports or recommendations. The Committee shall consider all matters within the Articles of any Warrant for a Town Meeting and, after due consideration, print or otherwise provide information and recommendations as it deems best. All recommendations shall be by majority vote, but this shall not be construed to prevent recommendations by a minority.
The Finance Committee shall have the authority to review the books, accounts and financial management of any Department of the Town, ten (10) days after notifying said Department of their intention to do so and the books and accounts of all Departments and Offices of the Town shall be open to inspection of the Committee and of any person employed by it. It may appoint from its own membership, sub-committees and delegate to them such of its powers as it deems expedient.
Upon receipt of the budget estimates as outlined in Article 2-1, s. 2 of these By-Laws, the Finance Committee shall consider the estimates and add another column to the estimate reflecting the amounts which, in their opinion, should be appropriated for the ensuing year. The Committee may add explanations, suggestions and recommendations in relation to the proposed appropriations as it deems best. The budget estimate and committee recommendations shall be printed and distributed with the Town Report at least 14 days prior to the Annual Town Meeting. A copy of the submitted budget estimate shall be returned to the preparer at least 14 days prior to the Town Meeting identifying and explaining recommendations for change of any amount requested.
Any Department, Board, Committee, Commission and elected Officer of the Town, when about to request an appropriation in addition to that made at the Annual Town Meeting, shall file a written notice with the Board of Selectmen of the intention, at least thirty-one (31) days before the Town Meeting at which the request is to be acted upon and he or they shall state the object for which the appropriation is required and the amount to be requested. The Board of Selectmen shall record the notice and inform the Finance Committee. The Finance Committee shall examine the subject matter of the request and be prepared to furnish the Meeting with all necessary information. An appropriation may be requested without the required notice, but in the absence of the required notice, no action shall be taken upon it, except at an adjournment of said Meeting to a day not less than one (1) week after the date for which the Town Meeting was called. During the interim the Finance Committee shall consider the proposed appropriation and make recommendations in relation thereto.
The Board of Selectmen with the approval of the Chairman of the Finance Committee, shall provide a suitable place in which to hold its various meetings.