Board of Finance
Encyclopedia
The Board of Finance is one of a variety of names (Budget Committee, Finance Committee, Ways and Means Committee, Appropriations Committee, Advisory Committee, or Warrant Committee are used in different parts of New England
) for a body that reviews local government budgets in towns or school districts that have the town meeting
form of government. Whether the board is appointed or elected, and whether it is merely advisory or has authority over the budget, depends on state and local laws.
Its role is to act as a balance against the Board of Selectmen
or School Board
, which usually set the budget and present it to the public at town meeting. Typically the Board of Finance is seen as being more cost-conscious than the governing body - that is, it prefers smaller budgets.
In many towns, the budget is split between general government, administered by the Board of Selectmen and the school district
administered by the Board of Education
. The school district include one town or several towns, which join into a "regional" (Connecticut
, Massachusetts
, New Hampshire
) or "unified" (Vermont
) school district. School districts in New England do not have separate taxation powers, and must receive their revenues from member towns.
Typically, after the Board of Selectmen or School Board settle their respective budgets, they are submitted to the Board of Finance for review. The Board of Finance may return the budget to the respective bodies with requests for changes, or may refer it to the town meeting for approval. In some cases, the Board of Finance may establish the budget itself, leaving the Selectmen or School Board to comment.
Outside the budget process, the Board of Finance may perform financial oversight duties on behalf of the town.
New England
New England is a region in the northeastern corner of the United States consisting of the six states of Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut...
) for a body that reviews local government budgets in towns or school districts that have the town meeting
Town meeting
A town meeting is a form of direct democratic rule, used primarily in portions of the United States since the 17th century, in which most or all the members of a community come together to legislate policy and budgets for local government....
form of government. Whether the board is appointed or elected, and whether it is merely advisory or has authority over the budget, depends on state and local laws.
Its role is to act as a balance against the Board of Selectmen
Board of selectmen
The board of selectmen is commonly the executive arm of the government of New England towns in the United States. The board typically consists of three or five members, with or without staggered terms.-History:...
or School Board
Board of education
A board of education or a school board or school committee is the title of the board of directors or board of trustees of a school, local school district or higher administrative level....
, which usually set the budget and present it to the public at town meeting. Typically the Board of Finance is seen as being more cost-conscious than the governing body - that is, it prefers smaller budgets.
In many towns, the budget is split between general government, administered by the Board of Selectmen and the school district
School district
School districts are a form of special-purpose district which serves to operate the local public primary and secondary schools.-United States:...
administered by the Board of Education
Board of education
A board of education or a school board or school committee is the title of the board of directors or board of trustees of a school, local school district or higher administrative level....
. The school district include one town or several towns, which join into a "regional" (Connecticut
Connecticut
Connecticut is a state in the New England region of the northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, and the state of New York to the west and the south .Connecticut is named for the Connecticut River, the major U.S. river that approximately...
, Massachusetts
Massachusetts
The Commonwealth of Massachusetts is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. As of the 2010...
, New Hampshire
New Hampshire
New Hampshire is a state in the New England region of the northeastern United States of America. The state was named after the southern English county of Hampshire. It is bordered by Massachusetts to the south, Vermont to the west, Maine and the Atlantic Ocean to the east, and the Canadian...
) or "unified" (Vermont
Vermont
Vermont is a state in the New England region of the northeastern United States of America. The state ranks 43rd in land area, , and 45th in total area. Its population according to the 2010 census, 630,337, is the second smallest in the country, larger only than Wyoming. It is the only New England...
) school district. School districts in New England do not have separate taxation powers, and must receive their revenues from member towns.
Typically, after the Board of Selectmen or School Board settle their respective budgets, they are submitted to the Board of Finance for review. The Board of Finance may return the budget to the respective bodies with requests for changes, or may refer it to the town meeting for approval. In some cases, the Board of Finance may establish the budget itself, leaving the Selectmen or School Board to comment.
Outside the budget process, the Board of Finance may perform financial oversight duties on behalf of the town.