(a) The auditors shall fix the compensation of the members of the Selectboard, unless the Town has voted to eliminate the Office of Auditor pursuant to 17 V.S.A. § 2651b, in which case the Town may fix the compensation of the members of the Selectboard at an annual meeting. If the Town has voted to eliminate the Office of Auditor and the voters fail to fix the Selectboard's compensation, the members of the Selectboard shall be compensated at the rate at which they were compensated during the immediately preceding year.

(b) Except as provided in sections 506(a) and 704(l) of this chapter, the Selectboard shall fix the compensation of all elected officers and all officers appointed by them. An elected official may notify the Selectboard in writing, at least 50 days before the annual meeting, that he or she wishes his or her compensation fixed by the Town, and the Selectboard shall insert an article in the warning to that effect. If so warned, the Town may fix the compensation of that elected official for the balance of his or her term of office or for such shorter period as the Town may vote. (Amended 2015, No. M-12, § 2, eff. May 26, 2015.)