Town of Sprague

Board of Finance Orientation

Overview

The Board of Finance is responsible for the measurement and management of performance and controls that impact the finances of the Town of Sprague. To conduct the Board's business, special information is required for members to effectively carry out their duties and for the public to follow the Board's proceedings. The information and document references herein provide an orientation for all interested parties to participate or to follow discussions of the Board of Finance. All documents are available via links on this page, on the Board of Finance main page, or as otherwise indicated below.


Mission, Vision and Purpose

These statements summarize the role, responsibilities and duties of the Board. See the Board of Finance main page.


Bylaws

The Board of Finance does not have bylaws. The Connecticut State Statutes provide the governance oversight in lieu of a Town of Sprague charter. The essential Statutes can be found on the State's website in the Statutes Chapter 106 Boards of Finance, but note that these are not the only Statutes that affect boards of finance.


Handbook

The Handbook for Connecticut Boards of Finance was last published in 1992, and is still applicable today. It summarizes and explains the Connecticut Statutes that relate to boards of finance. A scanned copy of the handbook is available along with an OCR interpreted copy of the text.


Board Policies

The Board has policies that reflect its approach to the financial management of the Town of Sprague. Each policy is reconsidered and re-approved on an annual basis. See the Board of Finance main page.


Annual Calendar of Meetings

The Board of Finance publishes an annual schedule of its regular meetings as State Statutes require. The Board also makes available for its members and the public a schedule of meetings including anticipated special meetings with their expected purpose indicated. Note a difference between regular and special meetings is the agenda of a regular meeting may be amended during a meeting but not for a special meeting. See the Board of Finance main page.


Minutes of Board Meetings

The minutes of meetings are available for review. See the Board of Finance main page.


Annual Budget

The current year's budget, as well as any proposed budget, is available for review. See the Board of Finance main page.


Annual Audit Report

The annual audit report contains the financial statements and the auditor's opinion on the financial management of the Town of Sprague and is available for review. See the Board of Finance main page.


Meeting Procedures

The Board of Finance, as with all Town boards, commissions, and committees, follows procedures from Robert's Rules of Order when engaged in a meeting. Visit Robert's Rules for more information. In addition, the Board of Finance along with all public entities follows the Freedom of Information Act. The FOIA is there to ensure public access to the records and meetings of public agencies. Visit the Connecticut Office of Governmental Accountability Freedom of Information Commission site for more information.


Annual Town Report

This report, a responsibility of the Board, provides a qualitative and quantitative summary of the annual activities of the governmental entities of the Town of Sprague. This booklet is available at the Town Hall.


Management Reports

Management reports are produced for, and reviewed by, Board members on a monthly basis. Current and prior reports are available on request. Unlike the private sector, virtually all information utilized by the public sector is public information, but like the private sector, the public sector, in addition to external reporting, produces reports for internal management purposes. These reports follow management's needs and not necessarily external standards. Interpretation of these reports should be made with Board guidance.


Member Roster

The names and contact information for current Board members are available.


Questions on Official Status

Questions by a Board member or the public on elective office(s) or official(s) status should be addressed to the Town Clerk. These questions include openings on boards, eligibility, political party affiliations, elections, terms of service, and resignations.


Questions on Board Policies and Procedures

Questions particular to the policies and procedures of the Board should be addressed to the Board. In addition, regular meetings have public comment as an agenda item where the public can voice their opinion.


Questions on Public Finance

The Government Finance Officers Association is a resource on public finance. One can find information on accounting, auditing, financial reporting, budgeting, fiscal policy, debt management, capital planning, investment management, and more. Of course, the internet, in general, is a resource for information on finance, accounting, and economics, as well as, public, corporate and personal finance.

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