I. Council Action Requested.
Title
To adopt amendments to the town’s fund balance policy.
Body
II. Basis for Council Action.
Council approval of this item is required because;
a. Article II, Section 3 (I) of the Charter gives the Council the authority to “Exercise all the legislative, financial, borrowing and other powers or hereafter given by statute to inhabitants of towns acting in Town Meeting…”, and
b. This article contemplates the adoption or amendment of policies regarding the town’s budgeting and fund balance practices.
III. Issue Summary.
Please refer to the attached policy.