Finance Committee

Kathy Luczynski

Chair
Email: sbadmin@townofsavoy.com

Financial Oversight

The Finance Committee (MGL, Part1, Title VII, Chapter 39, Section 16) is the Town's official fiscal watchdog.  It's primary responsibility is to make recommendations on all financial matters, including the budget, to town meeting.  The Finance Committee has oversight responsibility for all municipal financial matters, as well as other statutory authority granted to them by Town By-Laws.  

Key Responsibilites of the Finance Committee: 

• Budget Developement & Review: Analyzing department budget requests, holding hearings, and presenting a balanced budget with recommendations to the Town Meeting.
• Advisory Role: Reviewing all warrant articles involving the appropriation, borrowing, or expenditure of town funds.
• Reserve Fund Management: Authorized by law to approve transers from the Town's reserve fund for extraordinary or unforseen occurances.
• Financial Planning: Advising on long-term financial health, including capital planning.
• Reporting: Submitting official reports and recommendations to the Town on financial matters.

The Select Board will be taking action and this assessment is provided so that the residents may have a better understanding as they move along this process.