Board of Finance

Board of Finance

The Board of Finance is one of a variety of names (Budget Committee, Finance Committee, Ways and Means Committee, Appropriations Committee, Advisory Committee, or Warrant Committee are used in different parts of New England) for a body that reviews local government budgets in towns or school districts that have the town meeting form of government. Whether the board is appointed or elected, and whether it is merely advisory or has authority over the budget, depends on state and local laws.

Its role is to act as a balance against the Board of Selectmen or School Board, which usually set the budget and present it to the public at town meeting. Typically the Board of Finance is seen as being more cost-conscious than the governing body - that is, it prefers smaller budgets.

In many towns, the budget is split between general government, administered by the Board of Selectmen and the school district administered by the Board of Education. The school district include one town or several towns, which join into a "regional" (Connecticut, Massachusetts, New Hampshire) or "unified" (Vermont) school district. School districts in New England do not have separate taxation powers, and must receive their revenues from member towns.

Typically, after the Board of Selectmen or School Board settle their respective budgets, they are submitted to the Board of Finance for review. The Board of Finance may return the budget to the respective bodies with requests for changes, or may refer it to the town meeting for approval. In some cases, the Board of Finance may establish the budget itself, leaving the Selectmen or School Board to comment.

Outside the budget process, the Board of Finance may perform financial oversight duties on behalf of the town.hi.


Wikimedia Foundation. 2010.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • Advertising Standards Board Of Finance — The Advertising Standards Board Of Finance (ASBOF) collects a voluntary levy on advertising costs to fund the Advertising Standards Authority (ASA). Typically, the levy is 0.1% on non broadcast costs (e.g. 0.1% of the cost of placing a newspaper… …   Wikipedia

  • Broadcast Advertising Standards Board Of Finance — The Broadcast Advertising Standards Board Of Finance (BASBOF) is an organization in the United Kingdom that funds the Advertising Standards Authority (ASA). It collents a voluntary levy on advertising costs, typically the levy is 0.1% on display… …   Wikipedia

  • board — n often cap 1 a: a group of individuals having managerial, supervisory, investigatory, or advisory powers over a public or private business, trust, or other organization or institution Board of Regents Board of Bar Overseers …   Law dictionary

  • Finance (game) — Finance is a board game originally released in 1932 by Knapp Electric and later reissued by Parker Brothers. The game is similar to Monopoly in the movement of pieces around the board, the use of Chance cards, properties that can be purchased,… …   Wikipedia

  • Finance Islamique — La finance islamique, en accord avec le droit musulman, est basée sur deux principes : l interdiction de l intérêt, aussi appelé usure et la responsabilité sociale de l investissement. Elle lie plus étroitement la rentabilité financière d un …   Wikipédia en Français

  • BOARD OF DEPUTIES OF BRITISH JEWS — BOARD OF DEPUTIES OF BRITISH JEWS, representative organization of British Jewry. The institution dates from 1760, when the Sephardi committee of deputados presented a loyal address to George III and were reproached by the Ashkenazi community for… …   Encyclopedia of Judaism

  • Finance palace — Finance palace, (Serbian Финансијска палата , Hungarian Pénzügyi Palota , German Finanz Palast ) is a two floored neo renaissance palace on the main square in Zrenjanin and one of the most beautiful buildings in the city. The National Museum of… …   Wikipedia

  • finance director — Known as the chief financial officer or CFO. The main board executive director who is responsible for the finance function. Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 …   Law dictionary

  • board of trustees — UK US noun [C] (plural boards of trustees) FINANCE ► a group of people who are responsible for making rules and financial decisions on behalf of a not for profit organization (= a hospital, university, etc.): »She is chairman of the school s… …   Financial and business terms

  • Finance University under the Government of the Russian Federation — Financial University under the Government of the Russian Federation Motto Competence, Responsibility, Prestige Established 1919 Type Public …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”