Finance Committee

Purpose: Advises and supports Council’s efforts to preserve fiscal resources; advises during budget development; upholds the town’s Cash Management and Investment Policy. 

Duties and Responsibilities: Advise on the establishment and maintenance of internal controls for financial related activities; advise as to controls for the protection of town assets; establish approval criteria based on the mission and goals of the Council for use in the review of expenditure requests; provide unbiased review and recommendations to Council for the expenditure of funds as requested by committees and Community-Based Organizations (CBOs); examine the long-range financial impact of expenditure requests; support in the creation and review of the town budget and make comments and recommendations with respect thereto; maintain fiscal responsibility in all actions; serve as advocates to the community and to the Council in promoting fiscal responsibility; function as liaisons between other town committees and the Council in the provision of financial support services; provide a collaborative effort in the accomplishment of town goals; lend areas of expertise, provide advice, and make recommendations as appropriate to other committees, staff, and Council. 

Membership and Criteria: Membership shall include eight members comprised of the following: Town Manager, Finance Officer, Mayor, and five residents. Ex-officio membership will not be granted. Knowledge of and interest in investments, finance, management, or accounting; professional experience in one or more of these subject areas; understanding of the Cash Management and Investment Policy and annual fiscal budget. 

The committee meets the 3rd Monday of each month (as needed), 6pm at Town Hall, 4117 Oak Ridge Road.