On December 1, 2009, the Board of Selectmen formally adopted two key financial policies, as recommeded by the Department of Revenure. These policies will help to reinforce the Town's credit rating, and provide guidance for future Town officials.
The Debt Management Policy addresses when to use debt financing, the structure and terms of debt, debt limits, measure to protect our bond rating, and the use of funds that remain in capital projects after the projects are completed.
Debt Management Policy
The Cash Reserves Policy sets target balances for the Stabilization Fund, the Finance Committee Reserve Fund, and free cash. It also sets guidelines for the appropriate uses of these funds.
Cash Reserves Policy