The Board of Finance consists of seven elected members, who are electors of the town. No more than four may be members of the same political party. The term of each member is four years.

In addition to all other powers and duties conferred or imposed by law, the Board of Finance:

• Exercises all the powers and duties respecting the annual budget of the town and other town appropriations, the determination of the tax rate, and the preparation and publication of the town report
• Recommends, subject to the other provisions of the town charter, the issuance, reissuance, refinancing, repurchase or the call of bonds and other instruments of indebtedness, and any lease, acquisition or disposition of real property
• Hires independent auditors who have the authority to audit all of the books and records of the town in accordance with General Statutes and accounting standards applicable to municipalities
• Notifies the Moderator of the Representative Town Meeting of its action on appropriation requests within one week of such action

Notice of meetings and agenda are published at least five days before each regular meeting in a newspaper having a substantial circulation in the town. In determining the five days, neither the day of notice nor the day of the meeting are counted.