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Board considers quarterly financial reviews, monthly summaries and multiyear plan
Summary
A board member proposed a fiscal oversight and transparency policy calling for monthly or quarterly financial reports (balance sheet, month-by-month P&L, cash-flow), periodic deep-dive meetings with contract accountants, and a multiyear financial plan to reduce end‑of‑year surprises.
A board member (Speaker 4) proposed a fiscal oversight and transparency policy to improve the town’s ability to monitor finances year-round. The proposal asked for more frequent reporting — monthly or quarterly — including balance sheets, month-by-month income/expense reporting and cash‑flow forecasting, and suggested scheduling a quarterly special meeting to do a more thorough review with contract accountants and staff.
Supporters said the process would spread the workload across the year and give the board time to correct or question entries before budget season. Speaker 4 also proposed creating a multiyear financial plan and a formal process for submitting questions to contract accountants so board members can get timely answers without publicly 'grilling' department heads. The chair and other members agreed to pursue a conversation with the contract accountants and explore a proposed quarterly schedule.
