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Committee agrees draft charge to include in BET Reference Book
Summary
The Debt & Fund Balance Policy Committee agreed language defining its mission — assess long-term capital needs, maintain financial models, and recommend capital financing strategy — and will forward written language to the Policy & Procedure Committee for inclusion in the BET Reference Book.
Members agreed the committee's charge should state that it will work collaboratively to assess the Town's long-term capital needs, develop and maintain financial models with finance staff, and make recommendations to the full Board regarding capital financing strategy.
Committee member David Weisbrod requested that the Committee provide written language reflecting this charge to Ms. Erickson, Chair of the Policy and Procedure Committee, for incorporation into the BET Reference Book. The committee expects that adding the charge to the Reference Book will clarify the committee's continuing role in capital planning.
No vote was recorded on the exact wording at this meeting; members agreed on the mission language and a next step to submit formal text for the Reference Book.
