The Wellington Finance Committee Advisory Board was adopted by the Trustees on May 10, 2022 through Ordinance No.10-2022; the ordinance contains additional details about the purpose and the duties of the Advisory Board. A summary of the Advisory Board responsibilities include:
Review of the Town’s annual draft budget
Make recommendations to the Trustees regarding the Town finances, annual budget and long-range financial planning
Review Town revenues and expenses on a monthly basis
Review reports generated by outside consultants on matters that have a financial impact such as rate studies and contracts for banking or financial services
Provide an independent review of the Town’s financial reporting processes and internal controls
Members should have knowledge of standard audit procedures, internal controls and best practices in governmental financial accounting and reporting.
There will be seven voting members who are required to be residents of the Town of Wellington. The term for all appointments will be for two years which will begin on the appointment date of June 14, 2022.