No, the town's finances are not so terrible that Portsmouth's Fire Chief Jeffrey P. Lynch is now offering to shave his facial hair for money, but he is losing the 'stache for a good cause. 

Lynch says he will shave his mustache, which he has held onto for a whopping 33 years, if his team collects $1,000 for the St. Baldrick's Foundation, a volunteer-driven charity which raises money to fund research to find cures for childhood cancers. 

"I put the challenge out to the guys that if we can raise $1,000, I will shave my mustache which I have had for 33 years," Lynch said. As of Tuesday afternoon, the Portsmouth team has raised $716.

"People can donate as little or as much as they like," said the Portsmouth team leader and firefighter Andrew Jones. 

Donations may be made online on the Portsmouth team's page. Checks may also be left at the Portsmouth Fire Department, addressed to "Andrew Jones." 

The team's members also include Michael Pinksaw and Josh Berube. 

As part of the fundraiser, Portsmouth team members will have their heads shaved (and one face) at a special St. Baldrick's event on Wednesday, March 14, from 5 to 10 p.m. at McFadden's Restaurant, 15 Pine St., Providence. The event is open to public.