The Finance Committee generally meets on the second Wednesday of the month at the Town Hall. For exact meeting dates, please call the selectman’s office at (508)-634-2303.

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The Finance Committee is comprised of fifteen volunteer members appointed to staggered three-year terms by the Board of Selectman. Authority is granted to the Committee pursuant to Massachusetts General Laws chapter 44 and Article 2 of the General By-Laws of the Town of Milford. The Committee's major responsibilities include consideration of all indebtedness, administration of all town departments, and other municipal affairs of the Town, and to make such reports and recommendations to the town concerning the same. In order to accomplish such responsibilities, the enabling by-law grants the Committee authority to investigate and inspect the accounts, books, management, and records of the town and any enterprise fund of the town, and directs town officers to furnish the same upon request.

The full Committee meets at least once a month during the non budget months and typically several times prior to a town meeting. Each member of the Committee serves on multiple sub-committees that work directly with the Milford’s town department managers to balance and leverage the town’s resources. Meetings of the full committee are typically held at the Town Hall at 7 PM on the 2^nd Wednesday of each month. Sub committee meetings depending on the meeting schedule of the department management team and / or board.

In the current fiscal year, the Committee administered a budget in excess of $70 million. The committee has continued its commitment to balance the requirements of our residents with the fiscal reality we face. The town has continually increased its reserve fund to provide funds for necessary capital projects, while minimizing the financial burden on the taxpayers. Many factors, including but not limited to education reform, school choice, union contracts, overdue/uncollected taxes, and interest rate fluctuations challenge daily the Town's fiscal position and its Moody's Investor Services rating, which impacts directly the Town's interest expense, a crucial variable to fiscal health.

As with many growing Massachusetts communities operating within the confines of Proposition 2 ½, the town is challenged continually by financial constraints. The Committee pledges its continued dedication to help overcome these constraints. While other area communities have had or considered Proposition 2 ½ overrides, or debt exclusions, the town of Milford has reduced the tax levy over each of the last years by an average of over $500,000 per year.

The Milford Finance Committee expresses it gratitude to the many town officers and employees for their dedicated assistance, cooperation, and encouragement, as well as their critical assessment and commentary as warranted. In particular, the Committee extends specials thanks to the Town Administrator, the Board of Selectmen, the Town Accountant, the Town Treasurer, and the Town Counsel for their assistance and cooperation during the past fiscal year.

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