There shall be a planning board consisting of five (5) members elected for terms of five years each, so arranged that the term of office of as nearly an equal number of members as is possible shall expire each year. The planning board shall make studies and prepare plans concerning the resources, possibilities and needs of the town. It shall prepare and may from time to time amend and perfect a comprehensive plan which shall set forth in graphic and textual form information concerning the present development of the town and parts thereof. Such comprehensive plan shall include recommendations of the planning board concerning the future development (including physical, economic, and environmental aspects) of the entire town and parts thereof.

The planning board shall annually report to the town giving information regarding the condition of the town and any plans or proposals known to it affecting the resources, possibilities and needs of the town, and shall specify amendments that the planning board has made during the past year in the comprehensive plan.

The planning board shall have all of the other powers and duties which are given to planning boards under the constitution and laws of the Commonwealth of Massachusetts, and shall have such additional powers and duties as may be authorized by the charter, by by-law or by other vote of the town meeting.