The Board of Selectmen, in an effort to promote collaboration, sharing of information, and development of short and long range recommendations regarding the town’s financial condition, hereby establishes a Financial Planning Committee to be comprised and having the responsibilities as outlined below:
· The membership of the Financial Planning Committee shall be comprised of two members of the Board of Selectmen, two members of the Finance Committee and two members of the School Committee. Each of these representatives shall be appointed by their respective committee or board chair. The Town Administrator and Superintendent of Schools, or their designee, shall also be members of the Financial Planning Committee with full voting rights.
· It is incumbent upon the representatives from the Board of Selectmen, Finance Committee and School Committee to keep their respective board or committee informed of the activities of the Financial Planning Committee.
· The committee may consult with and utilize the expertise of various municipal officials including but not limited to the Finance Director, Comptroller and School Business Manager.
· The committee’s overarching objective is to develop short and long range forecasts for revenues and expenditures, and to develop strategies for meeting any projected shortfalls.
· Ideally, through a collaborative and cooperative process, members will achieve unanimous agreement on forecasts and strategies and will advocate for agreement with their respective board or committee.