AYER — Selectmen Gary Luca and Jannice Livingston have stepped up to volunteer to serve on a subcommittee that will help the Finance Committee update the 2010 Ayer financial policies.

The request for volunteers came from FinCom Chairman Scott Houde and member Brian Muldoon at the selectmen’s July 16 board meeting.

Prior to 2010, said Houde, the town had no written formal financial policy. He said selectmen, other individuals and FinCom members had scratched together “version one.” Since then members of FinCom had attended seminars and discovered other missing policy issues.

It is the FinCom’s goal, he said, to have two members from his committee, two selectmen, treasurer, tax collector, and town financial manager on board to work on the policy.

He and Muldoon suggested that the meetings be from 7-8 a.m. The team will determine the day of the week.

Houde stated that the committee hoped to have phase one completed by the end of September, and the final version by the end of October. The working group would then present it to the selectmen the following month.

“The goal is that if we all have a hand in creating policies, we should have buy-in from all participating groups,” Houde said.

Board member Jim Fay also volunteered to be involved, should he be needed. “This is a living document you have to keep working on,” he said encouragingly.

Town Administrator Robert Pontbriand requested that Muldoon and Houde give a brief presentation on the working group at the department heads’ August meeting.

Houde responded that the group will also be holding a public forum before it asks for final approval of the document.