[Adopted as Art. III, Sec. 2, of the Bylaws; amended 5-16-2006 ATM by Art. 16]
The Finance Committee shall have all the powers and duties as set forth in the General Laws, and shall consist of five regular members and up to three associate members. Associate members may vote in the temporary absence of a regular member on the regular business of the Finance Committee but may serve and participate on any subcommittees (e.g., Capital Planning Subcommittee) of the Finance Committee as fully as regular members. Appointments to the same shall be made by a committee consisting of the Chairman of the Board of Selectmen, the Moderator and the Chairman of the School Committee. Appointments shall be made for a period of three years and shall be so made that not more than two members shall have their terms expire in any one year. In case of vacancy, a member shall be appointed to fill the unexpired term.
The Finance Committee shall consider all articles in the warrant previous to any Town Meeting regularly called and shall file a report of its recommendations with the Selectmen at least seven days before each meeting. No amount shall be transferred from the Reserve Fund to any appropriation which shall require additional funds to complete the fiscal year unless approved by the Finance Committee.