Purpose

The purpose of the Budget and Finance Committee (hereinafter called Committee) is to provide assistance and guidance to the Town Manager and staff leading to the development, drafting and review of the Town's annual budget, and the overall financial management processes.

Scope of Work

• The Town Manager shall identify known and anticipated expenditures and revenues for inclusion in the budget, both short-term and long-term. The Committee shall review and evaluate the proposed budget.
• The Committee shall annually review the Schedule of Fees and Fines.
• The Committee shall conduct quarterly reviews of annual budget with actual results.
• In consultation with the Town Manager, the committee may make recommendations regarding any necessary budget adjustments.
• The Committee will oversee and recommend fund reserve policies and levels relative to the Town’s needs.
• The Committee will conduct additional budget reviews, if needed.
• The Committee will review the investment policy each year and recommend any changes to Council.
• The Committee will make recommendations to Council relative to long- term financial goals through the budget process.