Meeting times: As needed
Term: Elected for 3 years at the Annual Town Meeting
About the Finance Committee
The Middlefield Finance Committee is made up of five members elected to staggered three-year terms. It is the official fiscal watchdog for the town and plays a vital research and advisory role in the town’s financial planning. The committee is responsible for submitting its recommendations on the annual budget to the town meeting, including the review of all proposed financial articles in town meeting warrants.
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 selectmen, 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.
The committee is also responsible for long-range revenue and expenditure forecasts to help schedule large capital acquisitions, and for identifying major changes in the town’s operating budget.