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Massachusetts

Colrain

Town of Colrain
55 Main Road
Colrain, MA 01340
413-624-3454
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Finance Committee

No meetings currently scheduled.

Members

5 of 5 seats. 3 years each seat.

  • Douglas MacLeay, Chair. June, 2025.
  • Betty Ringwood. June, 2024.
  • Deborah Menard. June, 2024.
  • Rachel Glick. June, 2024.
  • Michael Shuipis. June, 2025.

The Finance Committee is comprised of up to (5) five members, appointed by the Town Moderator.  

RESPONSIBILITY OF THE FINANCE COMMITTEE

The Finance Committee’s prime responsibility is to make recommendations on all financial matters, including the budget, to town meeting.  The committee has oversight responsibility for all municipal financial matters, as well as other statutory authority granted to them by the Towns bylaws.

KEY DEFINITIONS USED BY THE FINANCE COMMITTEE
  • BUDGET A plan of financial operation embodying an estimate of proposed revenues and expenditures for a given period and the proposed means of financing them.
  • CHERRY SHEET The Cherry Sheet is the official notification from the Commissioner of Revenue of the next fiscal year’s state aid and assessments to communities and regional school districts.  
  • DEBT EXCLUSION This is a vote by a municipality at an election to exclude debt service payments for a particular capital project from the levy limit.  The amount necessary to cover the annual debt service is added to the levy limit for the life of the debt only.
  • FREE CASHFunds remaining from the operations of the previous fiscal year which are certified by the Department of Revenues director of accounts, as available for appropriation.  Remaining funds include unexpended free cash from the previous year, receipts in excess of estimates shown on the tax recapitulation sheet and unspent amounts in budget line-items.
  • LOCAL RECEIPTS Locally generated revenues other than real and personal property taxes and excluding enterprise revenue funds.  Examples include motor vehicle excise, investment income, hotel/motel tax, fees rentals and charges.  Annual estimates of local receipts are shown on the tax recapitulation sheet.
  • OPERATING BUDGETThe plan of proposed expenditures for personnel, supplies, and other expenses for the coming fiscal year.
  • OVERRIDE A vote by a community at an election to permanently increase the levy limit.  An override vote may increase the levy limit to no higher than the levy ceiling.
  • RESERVE FUND An amount set aside annually within the budget of a town (not to exceed 5% of the tax levy for the preceding year), to provide a funding source for “extraordinary and unforeseen” expenditures.  
  • STABILIZATION FUND – An account from which funds may be appropriated for any lawful purpose.  Towns may appropriate into the fund in any year an amount not to exceed 10 per cent of the prior years tax levy, or a larger amount with the approval of the emergency finance board.  A two-thirds vote of the town meeting is required to appropriate money from the stabilization account.

Previous meetings:

Finance Committee Meetings

Latest News

Selectboard seeks Ad-hoc Committee members/volunteers.
The FRCOG is very excited to share that we received funding to expand our pollinator habitat-planning work to include Colrain.
Posted: Mon, Jun 05, 2023

Town Seeks Equipment Operator/Laborer
The Town of Colrain is seeking a full-time Equipment Operator /Laborer for its Highway Department see below.
Posted: Tue, May 30, 2023

Colrain 2022 Annual Report
Posted: Thu, May 25, 2023

FY 24 ATM Warrant with Finance Committee Recommendations
The Finance Committee met on May 22, 2023 and voted their recommendations on each article appearing on the FY 24 ATM Warrant
Posted: Tue, May 23, 2023

New Food and Paper Waste Compost Program at the Colrain Transfer Station
On May 30th, a new food and paper waste compost program will begin at the Colrain Transfer Station on Charlemont Rd.
Posted: Fri, May 19, 2023
Read more News...
Town of Colrain
55 Main Road
Colrain, MA 01340
413-624-3454
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