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Millis/Medway - Local Town Pages

Millis seeks members for Enterprise Advisory Committee

The Town of Millis is seeking individuals to serve on a new three-person committee to advise the Select Board on matters related to water, sewer, and stormwater. The Enterprise Advisory Committee will meet regularly to review, discuss, and advise on issues as ​outlined in the “Charge” of the Committee attached below.
This is an independent committee and members should not also be members of the Select Board, Planning Board or Finance Committee 
What are Enterprise Funds?  An enterprise fund is considered the best practice to promote and maintain long-term financial sustainability for water, sewer and stormwater activities. An enterprise fund is a separate accounting and financial reporting mechanism for which revenues and expenditures are segregated into a fund with financial statements separate from all other governmental activities. An enterprise fund identifies the total direct and indirect costs to provide the service and the sources and amounts of revenues that support the service for which a fee is charged in exchange for service. Direct costs generally consist of personnel services, expenses and capital outlay, which are budgeted and accounted for in the enterprise fund. Indirect costs are expenditures budgeted and accounted for in the general fund on behalf of the enterprise fund, which are allocated to the enterprise fund for funding. Examples of indirect costs are central service department costs (accounting, treasury, collections, law and the like), insurances and fringe benefits that are not budgeted and accounted for in the enterprise fund. 
For more information, including an application and the committee charter, visit Source: