The Board of Finance is made up of six members who are elected for a six year term. Two members are elected every two years in municipal elections. Connecticut General Statutes (state law) make the Board of Finance responsible for control and oversight of town finances, specifically:
- Preparing the Town Budget.
- Setting the property tax rate.
- Approving special appropriations and transfer between appropriations.
- Determining the method and extent of financial record keeping.
- Arranging for the annual audit of the Town accounts.
- Publishing the annual Town Report.
The primary responsibility of the Board is to make an annual budget recommendation to the legislative body. To do this, the Board receives budget estimates of income and expenses from the Board of Selectmen and the Board of Education, compiles a balanced budget and presents it to the legislative body at a town meeting.
In addition, the Board is responsible for the Town's accounting system, preparing the annual town report, and providing the annual financial audit.
After a budget is approved, the Board of Finance can approve additional appropriation up to $20,000.00 Appropriation of more than $20,000.00 requires town meeting approval; more than $100,000.00 also requires approval by referendum.
|Norman Gauthier, Chairman (R)||01/16/2016 - 11/07/2017|
|Gerald Grabarek, (D)||11/17/2015 - 11/16/2021|
|Andrew Bilodeau (U)||11/22/2011 - 11/21/2017|
|David Cannon (D)||11/19/2013 - 11/19/2019|
|Kenneth L. Zachem (R)||11/19/2013 - 11/19/2019|
|Melissa Lennon (D)||11/17/2015 - 11/16/2021|
The Board of Finance meets on the 2nd Tuesday of each month at 7:00 p.m. (with the exception for holiday's) in the Preston Town Hall upstairs conference room.