~ Submitted by the Volunteer Coordinating Committee
The Finance Committee currently has an opening for a new volunteer member.
The Finance Committee is a part of the legislative process of Bedford town government. It is a representative of Town Meeting – which is the legislative and appropriations authority of Bedford Town government. The Finance Committee’s powers and duties are set forth in Massachusetts General Laws and Bedford Town Bylaws. The Finance Committee is the authority that prepares the annual budget of the Town of Bedford. It is also charged with authority and responsibility of considering all municipal questions for the purpose of making reports or recommendations to the Town at Town Meetings. The Finance Committee also has the authority to vote transfers from the Town’s reserve fund for the necessary and unanticipated current year expenses of any Town department.
The Finance Committee is a town board comprised of nine (9) members chosen by an appointing committee of the following three individuals: the Chair of the Finance Committee, the Moderator, and the Chair of the Select Board. The appointing committee appoints members for a term of three years or, in the case of mid-term vacancies, for the duration of the vacant term.
The Finance Committee, prior to each Annual Town Meeting, prepares a budget for publication in the Annual Town Meeting warrant report showing in detail the anticipated income and expenditures of the Town for the next fiscal year, together with its advice and recommendations on the appropriations of the Town funds and other matters pertaining to the future expenditures of money coming before Town Meeting.
The Finance Committee’s role in Special Town Meetings is to give its advice and recommendations regarding any appropriation of Town funds.
The Finance Committee attempts to find an appropriate balance between minimizing tax increases while maintaining the Town’s operations and services and historically sound financial position. While the Finance Committee has ultimate authority of the preparation and presentation of a budget to Annual Town Meeting, it has a long history of working diligently to reach a consensus among all town boards, committees, and departments. In most years it is successful in reaching budget consensus among all interested parties. The Finance Committee meets most weeks during the height of the budget season January through February. From September through December and March it meets on average bi-weekly. From April through August on average it meets once a month.
The Finance Committee receives assistance from many different Town employees, as well as elected officials and members of other Town boards and committees. During the year it meets with and works closely with the Select Board, the School Committee, the Capital Expenditures Committee and all other elected boards and committees in Bedford and many of the appointed Boards. It also works very closely with Town Manager and Town Finance Director and their staff and other departments such as Fire, Police, Facilities and DPW. All of these boards, committees and departments provide valuable advice, guidance, and opinions on budget matters that are carefully considered and incorporated into the Finance Committee’s preparation of the Town’s annual budget.
The Finance Committee is a wonderful opportunity for citizens who have experience and interests in financial, business, municipal and public sector work. The Finance Committee is made up of educators, non-profit professionals, business owners, managers and executives, attorneys and other professionals. This wide variety of experiences provides valuable and varied perspective for its work.
For more information on this board, please visit https://www.bedfordma.gov/finance-committee. For more information on Bedford’s volunteer process, including links to VCC contact information and the volunteer application, please visit https://www.bedfordma.gov/volunteer-coordinating-committee.
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