Finance Committee Bylaw

Finance Committee Bylaw

Agendas & Minutes

Agendas are available prior to the meetings. Minutes are available following approval. View most recent Agendas and Minutes

Members

Find member names, terms and committee assignments on the Finance Committee Member page.

Mission Statement 

The Finance Committee is the principal financial advisor to the Town Meeting. It is a deliberative rather than a decision-making body. Finance Committee responsibilities are set forth in state law (Massachusetts General Law Chapter 39, §16), a Town Bylaw (1921) and standing votes of the Town Meeting (1976 and 2011). 

Committee Operations

These responsibilities include:

• Publishing a budget guideline for the Town, Concord Public Schools, and the Concord-Carlisle Regional School District at least five weeks before the Annual Town Meeting warrant closes;
• Conducting public hearings on finance-related warrant articles before Annual and Special Town Meetings;
• Publishing an annual report highlighting its recommendations on all finance-related warrant articles under which an appropriation or expenditure of money or the disposition of any property of the Town may be made;
• Publishing a 5-year projection detailing what the total tax burden is likely to be on the citizens of the Town;
• Managing the Town's appropriated Reserve Fund, voting to disburse money from this fund, upon the request of the Town Manager, when unforeseen or extraordinary events occur.

These responsibilities are carried out with the objective of providing sound and comprehensive advice to the Town Meeting that promotes, maintains and strengthens the long-term financial health of the town within a level of property taxation that is sustainable and supportable by the residents of Concord.

The Finance Committee is made up of 15 members who are appointed by the Town Moderator to serve for up to 2 3-year terms. The Moderator also makes appointments during the year to fill any unexpired term in the event of a vacancy. Staff assistance is provided by the Town Finance Department. The Town Finance Director provides direct staff support to the Finance Committee and attends its meetings. Finance Committee liaisons to other Town boards and committees engage with those bodies to assist the Committee's understanding of current and emerging financial matters before the Town and when appropriate, share the Committee's perspective on matters of interest to the Committee.  If a liaison wishes to make remarks on those matters where the Finance Committee has not taken a formal position, liaisons must preface such remarks by clearly stating that they are not speaking for the Committee.