Budget committee accepts proposal to assume advisory role in investment decisions

China Baptist Church

by Mary Grow

The five (out of seven) China Budget Committee members at a special Sept. 26 meeting unanimously accepted Town Manager Dennis Heath’s proposal that the committee assume an advisory role in town investment decisions.

Part of the draft financial policy Heath has developed says that town funds will be invested as recommended by the budget committee and approved by the board of selectmen.

Budget committee members added, at Heath’s suggestion, a requirement that he make regular financial reports to them, to make their new responsibility easier. They agreed on quarterly reports, and further agreed emailed reports would not necessarily require a meeting to discuss them.

In the past, the committee’s only role has been to meet before any town vote involving appropriation of town funds and make recommendations on the proposed expenditures. Heath pointed out that under the Budget Committee Ordinance, the committee may also “make such other recommendations on fiscal matters as it may from time to time deem advisable.”

The new budget committee role is part of a more comprehensive fiscal rearrangement that Heath will present to selectmen at a future meeting.

 
 

Responsible journalism is hard work!
It is also expensive!


If you enjoy reading The Town Line and the good news we bring you each week, would you consider a donation to help us continue the work we’re doing?

The Town Line is a 501(c)(3) nonprofit private foundation, and all donations are tax deductible under the Internal Revenue Service code.

To help, please visit our online donation page or mail a check payable to The Town Line, PO Box 89, South China, ME 04358. Your contribution is appreciated!

 
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a comment