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Board of Finance works on first debt-policy update since 2016, will solicit public comment
Summary
The board of finance has drafted revisions to the town's debt policy, last updated in 2016, and expects to finalize the draft next month and take public comment; the board clarified the finance committee drafts policy while final approval questions remain (not specified).
The board of finance is preparing revisions to the town's debt policy, which was last updated in 2016 and is now under review, S5 said. "We started with the draft, and, we're probably gonna get it done, I hope, next month," S5 told the board and offered to distribute copies by email to anyone who requests them.
Board members asked how the approval process will work and whether the select board has final authority. S5 said the board of finance prepares recommendations and will take public comment, but he was unsure whether final approval rests with the board of selectmen. The transcript does not specify a final approver or timeline beyond the board's expectation to finish the draft next month. The board did not take a formal vote on the draft during this meeting.
