Ad Hoc Finance Committee
The Ad Hoc Finance Committee has been hard at work over the last year. Their efforts have resulted in the recommendation to establish a formal Finance Committee. The following are the guidelines as to how this committee shall be created (7/24).
The committee recommends that:
1. The Selectboard form a committee with a general charge
2. Committee structure for consideration
a. 5 members, 4 registered voters and 1 at large member
b. Include a Selectboard ex-officio member
c. Include a Superintendent or a School Committee ex-officio member
d. The Town Administrator ex-officio member
3. First Year Duties
a. Refine the Capital Inventory
b. Draft guidelines for using and maintaining the Capital Inventory
c. Meet with the Selectboard to determine integration into the current process
d. Meet with the School Board to determine integration into the current process
e. Make recommendations relative to forming a standing committee
4. Bring an ordinance to the 2025 Town Meeting to form a standing committee
Historical Information:
The purpose of the Ad Hoc Finance Committee is
- To make recommendations on the format of a permanent TOCI Finance Committee to the SB,
- To collect and analyze financial data necessary for responsible long-term financial and capital planning in the Town,
- In conjunction with SB, to communicate these findings and recommendations to the community.
The Ad Hoc Committee is intended to be a short-term committee, appointed for the remainder of FY24 and is expected to be replaced with a permanent Finance Committee.
The primary tasks of the Ad Hoc Finance Committee are:
- Developing a historical overview of the TOCI finances from 2008 to present.
- Compiling data necessary for the development of a Capital Improvement Plan (CIP).
- Development of a draft CIP plan (if time permits)
- Provide a recommendation on the purpose, size, membership criteria and format of a TOCI Finance Committee.
- In conjunction with SB, communicate these findings to the residents (or community) of the Town of Chebeague Island
|
Member |
|
Term |
|
Herb Maine |
June 2023 |
|
|
William McKenzie |
June 2023 |
|
|
Courtney Wilson |
June 2023 |