The Finance Committee is one of five standing committees of Town Meeting.  It is made up of 15 residents appointed for three-year terms by the Chair of the Board of Selectmen, the Chair of the Finance Committee and the Town Moderator.

The Finance Committee begins its regular meetings usually in September.  Subcommittees are appointed by the Finance Committee Chair and are responsible for reviewing various sections of the budget and Town Meeting warrant articles that carry a financial impact.

The Finance Committee also oversees the Town’s Reserve Fund, an account set aside to handle emergency or otherwise unforeseen expenses during the year.  Typically, a request for a reserve fund transfer will come from the Town Manager or Board of Selectman during the year.

In February, the Town Manager recommends a budget for the coming fiscal year (beginning July 1); this budget includes an allocation for the Winchester Public Schools.  Between February and April, the Finance Committee reviews the proposed budget through contact with the department heads, other boards, public hearings and the Committee’s own research.  In addition, the Committee may consult outside sources such as other cities and towns.  The Finance Committee Subcommittees provide a detailed analysis of each component of the budget including a written recommendation to the entire Finance Committee.  The Finance Committee then votes on each line item of the budget as to whether the Committee should recommend to Town Meeting favorable action on the proposed item.

This process culminates in the Finance Committee’s presentation at Spring Town Meeting where it provides its recommendations to Town Meeting.  Like the Town Manager’s initial budget and in accordance with Massachusetts General Laws, the Finance Committee’s recommendation must be a balanced budget; projected revenues must not exceed projected expenditures.  While Town Meeting has the final vote on any budget, it too is obligated by state law to approve a balanced budget.

In addition to its budget recommendations, the Finance Committee is often asked to provide a recommendation on any warrant article that has a financial impact.

Finance Committee Rules of Procedure

Ref: Bylaws, Ch. 2, Sect. 4.1

Subcommittees and Representatives on Other Committees

The bulk of the work of the Finance Committee is conducted through subcommittees.  Most Finance Committee subcommittees are organized to align with town departments, and, as described in the Finance Committee rules (#4), each subcommittee should “meet with the department, board or committee head concerned to familiarize itself fully with the organization and the function of the department, board or committee, its plans and requirements.”  When a matter comes before the Finance Committee that involves the jurisdiction of the subcommittee, such as a budget request, the subcommittee is responsible for making an “independent investigation” to the extent it deems “reasonably necessary” in order to make recommendations to the full Finance Committee.

The subcommittees will perform the following due diligence activities as necessary:

•    Review town charter/by-laws relating to the department or board to see its responsibilities, structure.  For instance, some departments report to the Town Manager, others report to a board elected by the town’s voters.
•    Review the department/board’s information on the town’s website.
•    Review the information provided, both qualitative and quantitative, in the prior year’s budget book.
•    Review the working papers of last year’s subcommittee.
•    Coordinate with other subcommittee members, in particular in contacting members of departments/boards.
•    Speak with, in person where possible, department heads and/or their designees.  Double check information with board members, Town Manager’s office where warranted.
•    Compare information with that of other towns either through inquiry with the department, information available through town manager i.e., Municipal Yardstick report prepared by Municipal Benchmarking, LLC, or publicly available information on the Internet.  Direct contacts with other town governments should be coordinated through the Finance Committee and the Town Manager’s office.

In addition to serving the role of information collection and review, subcommittees of the Finance Committee improve its own functioning (i.e., Communications) and provide representatives to other committees of the town (i.e., Capital, Energy, EFPBC).  The Committee also from time to time has ad hoc committees or representatives related to specific issues or short-term projects.

Finance Committee (FinComm) Subcommittees

Human Services
Advises FinComm on the following budgets:
•    Board of Health
•    Council on Aging
•    Veteran’s Services
•    Library
•    Archival Center

Education
Advises FinComm on the education budget.

Fields
Advises FinComm on field budgets.

General Government
Advises FinComm on the following budgets:
•    Town Manager
•    Finance Committee
•    Comptroller
•    Assessors
•    Collector/Treasurer
•    Planning Board
•    Planning
•    Engineering
•    Building and Zoning
•    Board of Appeals
•    Conservation Commission
•    General Services
•    Town Clerk

Personnel
Advises FinComm on budgets for wage increases/adjustments and special appropriations. Also reviews and advises on personnel warrant articles.

Public Safety
Advises FinComm on budgets for:
•    Police
•    Fire
•    Sealer of Weights and Measures

Public Works
Advises FinComm on DPW budgets including:
•    Transfer Station
•    Trash disposal
•    Cemetery
•    Snow and Ice

Undistributed
Advises FinComm on Town Manager’s revenue projections and reserves.

Communication
Reviews and composes communications from the FinComm to Town Meeting, officials and the general public.
Finance Committee Representatives on Other Committees

Capital Planning Committee (2 members)

The Capital Planning Committee works in concert with the Town Manager to develop the annual Capital Plan. Two members of the FinComm sit on the Capital Planning Committee.

Educational Facilities Planning and Building Committee (EFPBC) (1 member)

The EFPBC develops the master plan for school facilities, makes recommendations to Town Meeting in regard to school building projects, and oversees all school building projects. One member of the FinComm serves on the 11-member board.

Energy Conservation Committee (1 member)

The Energy Conservation Committee examines opportunities to help control the town’s energy budget.

Master Planning Committee (1 member)

The Master Planning Committee is responsible for updating Winchester’s Master Plan by looking at the needs and resources of the community and how land use affects both.

Wright-Locke Farm Conservancy (1 member)

The Wright-Locke Farm Conservancy is responsible for overseeing activities related to the Wright-Locke Farm property.