I. A cooperative school district at an annual meeting, under a proper article in the warrant, may vote to establish a budget committee pursuant to N.H. Rev. Stat. § 32:14 and may rescind such action in a like manner. The budget committee shall have the same number of members as the cooperative district school board plus one additional member from the school board as provided in this paragraph. The terms of office and manner of election of members shall be determined in the same manner as for the cooperative school board. Whenever it is voted to establish a budget committee, the moderator in the first instance shall appoint the members of the budget committee, except for the additional member appointed from the school board, within 15 days of the vote establishing the committee. The members appointed by the moderator shall serve until the next annual meeting when the meeting shall elect their successors. No member of the cooperative school board shall be appointed or elected to the budget committee except that the chairperson of the cooperative school board shall appoint a member of the board to serve on the budget committee with all the powers and duties of any other member of the committee. After appointment or election the budget committee shall promptly organize and choose a chairperson, vice-chairperson, and secretary. The secretary shall keep records of the proceedings of the budget committee, which shall be public records open to public inspection.
II. Such cooperative school budget committee shall have the powers and duties of the municipal budget committee under the provisions of N.H. Rev. Stat. Chapter 32 insofar as the budget for the cooperative school district is concerned and insofar as N.H. Rev. Stat. Chapter 32 is applicable to the cooperative school budget.
III. Such committee shall seasonably provide the cooperative school board with a sufficient number of copies of the budget prepared by it, and the same shall be posted with each copy of the warrant in the manner provided by N.H. Rev. Stat. § 195:13.