Since March 1954, Lyman has operated under a mayor- council form of government. The Town Council is the legislative branch, and includes six members. The Mayor is the presiding officer and is elected for a four year term, while the Council members are elected at-large on a non-partisan basis serving staggered four year terms.

The Mayor serves as the Town's Chief Executive Officer, and is responsible for carrying out the policies and ordinances enacted by Council. The Mayor administers the daily operations and programs for the Town through the appointments of department managers and staff. 

Town Council serves as the legislative branch of municipal government.  While they do not oversee the daily operations their responsibility lies in passing Ordinances, Policies, the Annual Budget as well as appointing the Clerk/Treasurer, Town Attorney, Town Auditor and Town Judge.