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Wayland Finance Committee Members
Responsibility The primary role of the Wayland Finance Committee each year is to prepare the Omnibus Budget and review and comment on articles submitted for inclusion in the Annual Town Meeting Warrant. In carrying out this role, the Finance Committee considers both the short and long term fiscal position of the Town with guidance from the following mission statement and financial strategy. Mission Statement The mission of the Wayland Finance Committee is to define a financial strategy for the Town and to use this strategy as the basis for recommending to the Town a fiscally responsible operating and capital spending plan. In implementing this strategy, and within the context of its impact on property values, the Finance Committee seeks to balance the demand for services against the ability of residents with a broad range of financial situations to afford these services. Financial Strategy The Finance Committee strategy is to recommend the following: 1) maintenance of high quality Town services supplied by an efficient workforce at the lowest possible cost, 2) continued investment in infrastructure via a capital spending plan that strives to add new debt no faster than old debt is retired, and 3) preservation of Free Cash levels near five percent of the total budget, as recommended by financial lending institutions and the Commonwealth. Staff
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