Members of the Finance Committee shall be established in number
by bylaw, and shall be appointed by the Moderator. They shall serve
for three-year terms, and an equal number shall be appointed each
year except where the size of the Committee does not permit. The Finance
Committee shall have all of the powers Finance Committees may have
under the General Laws and the bylaws of the Town.
A seven-member Capital Outlay Committee shall prepare and submit
to the Board of Selectmen and the Finance Committee a capital outlay
program for the Town. Of the members, two shall be from and chosen
by the Finance Committee, two shall be from and chosen by the Planning
Board and two shall be appointed by the Board of Selectmen. The Collector
- Treasurer shall be the seventh member. All members shall serve for
one-year terms except the Collector - Treasurer who shall be a permanent
member. The Town Administrator shall act as staff to the Committee.
The Capital Outlay Committee shall prepare and annually update a five-year
schedule of expenditures on real estate, facilities, equipment and
public works that individually meet or exceed an amount of expenditure
the Committee determines shall classify them as items of capital outlay.
The schedule shall include a list of capital outlay items, the cost
of such items and a financing plan for the total of capital outlay
expenditures that includes portions to be funded from bonded indebtedness,
from the annual operating budget and from other sources.
