The Town of Old Lyme is governed by a Town Meeting/Board of Selectmen structure.
The Board of Selectmen meets twice monthly, on the 1st & 3rd Mondays at 7:30PM, in the Parrish Center of Christ the King Church. Meetings are open to all, and are televised on Comcast Cable Public Access Channel 14.
 The Annual Town Meeting takes place on the 4th Monday in January. The agenda includes the official publication of the new Annual Town Report, the naming of the Citizen of the Year, and any other Town business that must be conducted.
Budget requests are submitted to the Board of Selectmen, who bring a town budget proposal first to the Board of Finance and then to the Annual Town Budget Meeting, which takes place the 3rd Monday in May.
The Board of Finance sets the mill rate, currently 18.20 for 2007-2008 fiscal year, after a Town Budget has been approved by Town Meeting.
The education budget is controlled by the Regional School District # 18 Board of Education, which includes elected representatives from both Old Lyme and Lyme.
Old Lyme conducts business in accordance with Connecticut State Statutes.
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