There shall be a six-member Board of Finance which shall exercise the powers and duties granted to such Board under the General Statutes and this Charter. The members of the Board of Finance shall be elected in accordance with Sections 2.1 and 2.3 of this Charter.
The Board of Finance, within 10 days following qualification of newly elected members, shall meet and elect from its membership a chairman, who shall preside over its meetings, a vice-chairman, who shall preside in the chairman's absence, and shall appoint a clerk, who shall prepare the minutes and other records of each meeting.
The Board shall hold regular monthly meetings, and special meetings when needed, to perform its duties.
Each member of the Board of Finance must meet the following qualifications:
(1) 
Be an elector of the town;
(2) 
Be a taxpayer of the town;
(3) 
Be sworn to faithful performance of his or her duties;
(4) 
Hold no salaried town office.
Board members shall receive no compensation for services, but necessary expenses of the Board are to be paid by the town within the limits of the Board's appropriation.
Any vacancy occurring on the Board of Finance shall be filled by the Board of Selectmen, as provided for in Section 2.6 of this Charter.
Four members shall constitute a quorum to hold meetings and transact business at such meetings.
The Board of Finance shall annually designate an independent public accountant to audit the books of the town, in accordance with the General Statutes.
At such time and in such manner as the Board of Finance may require, but not later than January 15, every agency and office of the town supported wholly or in part by town revenues, or for which a specific town appropriation is or may be made, shall present to the Board of Selectmen and to the Board of Finance an itemized estimate of the expenditures to be made by that agency/office and all revenues other than town appropriations to be received by it for its use during the ensuing fiscal year. The estimates shall be accompanied by such other reports and data as the Board of Finance or the Board of Selectmen may require. Each agency/office may also be required to submit a statement of its program or programs showing services, activities, and work to be accomplished during the ensuing year. These data and reports will be compiled into a preliminary proposed general town budget.
At such time and in such a manner as the Board of Finance may by regulation require, but not less than 45 days prior to the annual budget meeting, the Board of Selectmen shall present the proposed preliminary budget, with its recommendations, to the Board of Finance for review and final preparation. After reviewing the budget as presented by the Board of Selectmen and Education, the Board of Finance shall prepare the final proposed town budget for presentation at a public hearing. The Board of Finance may require any agency or office, including the Board of Selectmen, to meet with it and explain the requests for funds. Any agency/office shall be entitled to be heard by the Board of Finance in respect to the estimates of proposed expenditures submitted by that agency or office.
The Board of Finance shall hold one or more public hearings not later than 14 days before the Annual Budget Meeting. At these hearings, the Board of Finance shall present an itemized statement, by classification, with the following information:
(1) 
Actual expenditure for the prior fiscal year;
(2) 
Appropriation for current year;
(3) 
Estimated expenditure for current year;
(4) 
Appropriation requested — ensuing year;
(5) 
Appropriation proposed — ensuing year;
In addition to the appropriation budget, estimated revenue for the current and ensuing years should be presented (for information only) showing:
(1)
Estimated cash surplus at beginning of each year;
(2)
Estimated grants and other revenue available - except local property tax;
(3)
Estimated local tax receipts required to balance budget.
After the hearings, the Board of Finance shall then revise the estimates as it deems desirable and shall prepare a recommended appropriation budget, as well as its estimate of anticipated revenue (except for local property taxes) available for the ensuing year.
The Annual Budget Meeting shall be held at least 30 days prior to the end of the fiscal year, as provided for in Section 3.3.1 of this Charter. At the meeting the Board of Finance shall recommend its proposed budget to the town. Sufficient copies of the said annual budget shall be made available for general distribution in the office of the Town Clerk at least five days prior to said budget meeting. The budget shall become official when approved by the Annual Budget Meeting, provided no appropriation shall be made exceeding that for the same purpose recommended by the Board of Finance, and no appropriation shall be made for any purpose not recommended. By a majority or more of the qualified voters present and voting at such meeting, an amount of money less than that recommended may be appropriated. The appropriations recommended by the Board of Finance and the amendments thereto, if any, shall be construed as having been appropriated when approved as herein above prescribed. An official copy of the budget, as finally approved, shall be filed with the Town Clerk.
After the Board of Assessment Appeals has finished its duties, and a Grand List has been completed, and after considering other estimated yearly income of the town, the Board of Finance shall meet to lay a tax on the Grand List sufficient to pay the expenses and appropriations of the town for the ensuing fiscal year, and to absorb any revenue deficit of the town at the end of the current fiscal year.
The Board of Finance, on request by town agencies or officials, may make special appropriations from surplus revenue or from an approved contingency fund. Such a special appropriation in excess of $20,000 shall require approval by a vote of town meeting. Not more than one special appropriation for any town agency, official, or any department may be made by the Board of Finance in each fiscal year, without approval of town meeting.
There shall be an Assessor with the powers and duties prescribed for assessors by the General Statutes. The Assessor shall be appointed by the Board of Selectmen on the basis of competitive state examinations.
The Board of Assessment Appeals shall function in accordance with the General Statutes and this Charter.
There shall be a Tax Collector who shall collect the taxes in accordance with the General Statutes and whose term of office shall be as set forth in Section 2.1 of this Charter.
The Treasurer shall receive all money belonging to the town, pay it out on the order of the proper authority, keep accurately the records required by law, and shall have such other powers and duties as are in accordance with the General Statutes. The Treasurer shall act as agent of the Town Deposit Fund. The procedures of the Treasurer's office shall conform to the regulations of the Board of Finance, adopted in conformance with this Charter. The Treasurer's term of office shall be as set forth in Section 2.1 of this Charter.