Finance Committee

Members:

Chairman: Mr. Paul Chalfant (Treasurer)

Serves at the pleasure of the Mayor & Council

Committee Member: Ms. Steveni Keeley

Committee Member: Mr. Ronald Russo

Committee Makeup:

A. The Committee shall consist of three members.

B. The three members shall consist of the following:

(1) The Town Treasurer, who shall serve as Chairperson of the Committee.

(2) Two residents of the Town who may be nominated by any member of the Council or the Mayor, but must be approved by a majority vote of the Mayor and Council.

Purpose:

The primary purpose of the Finance Committee shall be to play an advisory role to the Mayor and Council concerning financial issues which the Mayor and Council have directed the committee to examine. The Committee shall have no authority except to view and review all financial matters directly related to the issue which the Mayor and Council have directed it to examine and to make a recommendation to the Mayor and Council concerning only those specific issues.

Qualification of Members:

A. The members of the Committee collectively shall possess the expertise and experience in accounting, finance and financial reporting or the good common sense needed to understand and resolve issues raised in the review of financial matters.

B. However, all Committee members shall:

(1) Be residents of the Town and shall have been residents for at least two years.

(2) Submit to the Mayor and Council a written summary of their financial experience and background.

(3) Not be delinquent in property taxes, fees or other assessments or fines due to the Town.

(4) Not have been convicted of a crime, which constituted a felony, or any crime involving theft, dishonesty or financial impropriety.

Term of Office:

The Committee shall be appointed only for the period of time needed to accomplish the specific task which it has been assigned. With the exception of the Town Treasurer, the members of the committee shall be appointed each time the committee is appointed.


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