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By JENNIFER SWANSON
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EXETER – The Exeter Town Council has established a Municipal Finance Committee to act as a “third party advisor” on matters relating to town finances, Council President Calvin Ellis said Monday.
Ellis said most other communities have finance directors, town managers or similar boards to review municipal budgets. The Town of Exeter, which operates with a minimal municipal staff, has neither.
“We’re not in crisis mode, the town is solvent. This isn’t about unmanaged debt, it’s about preparing a responsible, comprehensive budget that addresses Exeter’s needs as a growing community,” Ellis said.
The three-to-five member ad hoc Municipal Finance Committee, consisting of resident volunteers with backgrounds in finance, will be asked to review the town’s accounting practices and procedures, funding, budgeting and salaries. Town Council Assistant Ken Findlay will serve as the committee’s liason to the council.
Ellis pitched the idea to his fellow councilmen, who unanimously approved the proposal, at their monthly business meeting in September.
The council appointed four Exeter residents - Robert Anderson, Thomas D. Maselli, Peter Wilbur and Nancy Mancini - to the newly created committee at the Oct. 6 council meeting.
Anderson, a former CPA, is the Director of Finance for the Rhode Island Medical Society and the director of RIMS - Insurance Brokerage Corporation. Maselli is a CPA and partner in the Providence firm of Rosenstein, Halper & Maselli, LLP with 25 years of experience in the field. Wilbur is the Associate Vice President for Finance and Administration at Roger Williams University and Mancini is a CPA with Caliri & Mancini, PC.
The four members met for the first time last Thursday, where each received a packet containing current financial statements, the annual town budget and the most recent audit report.
Ellis said the group will reconvene once the members have had an opportunity to review the documents.
Ellis stressed that the group will serve solely in an “advisory capacity” and that the Town Council will maintain its authority over town budgetary and financial decisions.
“I hope the public can be encouraged that we’re seeking a third party, objective opinion,” he said.
Ellis said it is the council’s hope that “the committee could assist us in implementing the recommendations made by our auditing firm.”
According to Ellis, the council has already made “significant strides in improving internal controls” since appointing Teri Donovan deputy treasurer earlier this year to assist Town Treasurer Richard Walker.
“Teri’s been extremely helpful. This is another tool in our toolbox of methods we can use to ensure Exeter residents our finances are in good order,” Ellis said. “We’re thinking about trying to be proactive.” |
