The Town Treasurer shall receive and take charge of all money of the Town and shall have all the powers and duties necessary to accomplish the same as provided by the laws of the Commonwealth of Massachusetts. The Treasurer shall make prompt and timely deposits of funds in his charge and at no time should more than one (1) week elapse between the time of the receipt and time of deposit.
The Treasurer shall pay no money without a warrant or order signed by a majority of the Board of Selectmen and the Town Accountant. The warrant or order shall be sufficient authority to the Treasurer to pay money in accordance therewith. Such payment shall discharge the Treasurer from all liability of the monies paid.
The Treasurer shall furnish such information respecting the accounts, finances, payment to and obligations of the Town as the Board of Selectmen may from time to time require. The Treasurer shall furnish a quarterly report to the Board of Selectmen and the Town Accountant that shall include but not be limited to: Cash Balances-Unrestricted Checking Accounts, Cash Balances-Restricted Checking Accounts, Cash Balances Savings Accounts, Investment Balances, Interest Income Earned, Outstanding Short Term Debt, i.e. Revenue Anticipation Notes, Bond Anticipation Notes with such listing to include maturity date and interest cost, Balance of Tax Title or Other delinquent accounts in Treasurer's possession and status of each.
The Treasurer shall give bond to the Town for the faithful performance of duties in a form approved by the Commissioner of Revenue and in such sum set by the Board of Selectmen but not less than the amount established by said Commissioner.
The Treasurer shall fix regular hours during which his office shall be open and he shall give public notice thereof.
The Treasurer will file an annual report with the Board of Selectmen for inclusion in the Annual Report. The report to include:
- A list of all notes issued during the year and the purpose for which the money was borrowed, giving the dates, terms, amount, rate of interest, time of maturity, the premium, if any, received thereon, and the names of the parties from whom the funds were borrowed.
- A list of all notes paid during the year and a list of all outstanding notes, with the dates on which they will mature.