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HomeMy WebLinkAboutExisting Chapter 17-Finance General Bylaws OF NORTH qti et.lEO is U p 0^yq9 9SSNCHUSES TOWN OF NORTH ANDOVER OFFICE OF THE TOWN CLERK 120 MAIN STREET NORTH ANDOVER, MASSACHUSETTS 01845 Joyce A.Bradshaw,CMMC Telephone(978)688-9501 Town Clerk Fax (978)688-9556 E-mail Bradshaw C&townofnorthandover.com Chapter 17 FINANCE [HISTORY: Adopted by the Town of North Andover as Ch. 4 of General Bylaws. Amendments noted where applicable.] § 17-1. Financial Year. § 17-2. Warrant for Payments. § 17-3. Promissory Notes. § 17-4. Financial Reports. § 17-5. Deposit of Receipts. § 17-6. Surety Bond Retirement. § 17-7. Conflict of Interest. § 17-8. Water/Sewer Bills. § 17-9. Revenue/Fixed Costs Review Committee § 17-1. Financial Year The financial year of the town shall begin with the first day of July and end with the 30th day of the following June. § 17-2. Warrant for Payments No money shall be paid from the Town Treasury, except the state and county taxes and bank discount, without a warrant therefor signed by the Selectmen. § 17-3. Promissory Notes All promissory notes of the town shall be signed by the Treasurer and countersigned by the Selectmen. § 17-4. Financial Reports All town officers, boards, and committees, who in any way receive or expend money belonging to the town shall keep a record of their official acts, and an account of their receipts and expenditures; they shall make an annual report to the town in season to be audited and incorporated into the annual town report. § 17-5. Deposit of Receipts All town officers, boards and committees, who shall receive money in behalf of the town, shall pay to the Treasurer, monthly and oftener if so required by the Selectmen, all money so received. All other persons who shall have in their possession money belonging to the town shall pay the same forthwith to the Town Treasurer. § 17-6. Surety Bond Retirement The Collector or other official with the duty of collecting and receiving money due to the town shall give a bond in a penal sum and with sureties approved by the Board of Selectmen. § 17-7. Conflict of Interest No officer, board or committee of the town shall have any pecuniary interest, either direct or indirect, personally or through another person, in any loan, contract or employment of any sort made, by, with or for that department to which his or its duties pertain. All contracts or employment made in violation of the bylaw shall be void as to the town, and no bills therefor shall be approved, audited or paid. § 17-8. Water/Sewer Bills [Adopted: ATM 5-7-90, Article 22] [Amended Article 18 1998 Annual Town Meeting — Attorney General Approval October 20,1998] Water/sewer bills will be issued on a quarterly basis and are due and payable on or before thirty (30) days from the billing date (date of postmark). Payments are considered made when received by the Collector. Any unpaid bills will be reflected as arrears on the following bill cycle, with interest. Any payments received will be applied to interest and charges first, then the arrears portion, with the balance being applied to the current bill. A penalty of 14% interest per annum on the current water and sewer bill will accrue on overdue payments from the due date until payment is made. Fourteen (14) days after the due date of the fourth quarter bill, a demand bill will be issued for the balance plus interest plus $5.00 fee. This will be due fourteen days after mailing. All bills outstanding for the quarter ended June 30th will be removed from the accounts receivable for water and sewer and applied for collection as part of the property tax, in accordance with M.G.L. Ch.40, s 42A and 42D. § 17-9. Revenue/Fixed Costs Review Committee [Adopted: ATM 5-11-2004,Article 25—Attorney General Approval August 19,2004] There is hereby created a committee to advise the Town Manager on revenue, other financial sources and fixed costs projections for town operating budgets. The Committee shall consist of two finance committee members, the School Superintendent, the Director of Finance and Administration, and the Town Accountant. The Town Manager shall serve as an ex-officio member of the committee. The Committee shall meet within thirty days but no later than December 1st of the issuance of the Board of Selectmen budget policy statement provided for in Chapter 9, Section 2-3 of the Town Charter and shall report to the Town Manager and the Finance Committee their initial estimates for revenues and other financial sources projections and fixed expense estimates for the following fiscal year's annual operating budget within 45 days of the Committee's first meeting. The Committee's report shall identify and describe all revenue and financing sources and anticipated fixed costs and shall provide a written rationale supporting estimates contained therein. All reports and relevant supporting computer work files issued by this committee shall be made available through the Town of North Andover Web Site in a timely manner that does not interfere with the work of the committee. The committee may continue to meet after the issuance of the Town Manager's Recommended Budget for the purpose of providing continued advice to the Town Manager, the Board of Selectmen and the Finance Committee regarding revenue and fixed costs projections.