There shall be a Finance and Warrant Advisory Committee the members of which shall be appointed by the Moderator. The number of members, the term of office and any other conditions of appointment or service as may be deemed necessary or desirable shall be established by by-law. The subject matter of all proposals to be submitted to a Town Meeting by warrant articles shall be referred to the Finance and Warrant Advisory Committee by the Board of Selectmen at the earliest practicable time following their receipt by the Board of Selectmen. The Finance and Warrant Advisory Committee shall report its recommendations on every article contained in a Town Meeting warrant, in writing, together with a brief statement of the reasons for each such recommendation. Before preparing its recommendations the Finance and Warrant Advisory Committee shall hold
one or more public hearings to permit public discussion of the subject matter of all articles contained in the warrant. The Finance and Warrant Advisory Committee shall have such additional powers and duties as may be provided by law or by by-law.