Meeting: Thursday before Council Meeting

Term: 1 year

Members: The Mayor shall appoint three (3) members and one (1) alternate while filling the position of the chair.

Tasks include:

• To review budgets initially prepared by staff, to help develop appropriate procedures for budget preparations (such as meaningful involvement by program directors), and on a consistency between the budget and the organization's plans
• To report to the board any financial irregularities, concerns, opportunities
• To recommend financial guidelines to the board (such as to establish a reserve fund or to obtain a line of credit for a specified amount)
• To work with staff to design financial reports and ensure that reports are accurate and timely
• To oversee short and long-term investments
• To recommend selection of the auditor and work with the auditor, and
• To advise the City Administrator and Clerk/Treasurer on financial priorities