Meeting times: As needed
Term: Elected for 3 years at the Annual Town Meeting
The Middlefield Finance Committee is made up of five members elected to staggered three-year terms. As the official fiscal watchdog for the town, it is primarily responsible for submitting budget recommendations to the annual town meeting, as well as the review of proposed financial articles in all town meeting warrants.
The committee develops long-range capital plans, including revenue and expenditure forecasts, and major changes in the town’s operating budget. It also seeks to identify grants and other outside sources of revenue.
The committee has statutory authority to make transfers from the town’s reserve fund to departmental budgets for extraordinary or unforeseen occurrences. It may approve, together with the Selectboard, some budget transfers during the last two months of the fiscal year and the first 15 days of the next year in order to close out the town’s financial records.