Learn more about the role of a Finance Committee by watching this video put together by the Division of Local Services for the Commonwealth.
Massachusetts Law requires that all towns with a property valuation of $1 million or more have a finance committee.
The Tyngsborough Finance Committee consists of five members elected by the citizens to serve the citizens without compensation and an executive secretary. The Finance Committee is the official watchdog of the community. The members are responsible for researching, advising and making recommendations to town meeting on all financial matters.
As stated in the Tyngsborough by-laws the Finance Committee is also responsible for making recommendations on "all matters of business of any warrant for a town meeting." The Finance Committee is actively involved in the budget process and has statutory authority over the Reserve Account. Additionally, the Finance Committee, along with the Select Board and Town Manager vote to occur liability and make expenditure in excess of appropriation for emergency winter related expenditures and, again along with the Select Board, votes on amounts to be spent during the fiscal year from revolving funds.
At the Annual Town Meeting the Finance Committee presents its recommendations and findings to the voters. A Tyngsborough by-law requires the Finance Committee to make available written reports of their findings to the community at least 7 days prior to Town Meeting.