The Committee on Finance and Taxation (FinCom) is a standing committee of the Town Meeting. FinCom has 3 main objectives in representing the entire Stoughton community:
- To recommend an annual fiscal year budget and all articles that require appropriation to Town Meeting;
- To ensure that the Town has a sound fiscal policy, strong financial management and pro-active fiscal planning;
- To authorize transfers from the Reserve Fund for "extraordinary and unforeseen" expenditures and/or in the last 3 months of the fiscal year to allow the Selectman to make interdepartmental transfers as outlined by Massachusetts General Law.
As identified in Article 7 of the Town Charter, FinCom shall have the authority at any time to investigate the books, accounts, and management of any department of the Town, and to employ such expert and other assistance as it may deem advisable for that purpose; and the books and accounts of all departments and officers of the Town shall be open to the inspection of the Committee and any person employed by it for that purpose. The Committee may appoint sub-committees of its members and delegate to them such of its powers as it deems expedient.
The Finance Committee works in conjunction with the Board of Selectman, School Committee, Town Manager, School Superintendent, other Town Committees and concerned parties to manage the financial oversight and planning for the community at-large and, in particular, Town and School Departments.