[Adopted 8-14-2001 by Ord. No. 2001-07 (§ 2.01 of the 1961 Code)]
For the efficient administration of the governmental affairs of the Village of Fox Point, the following committees are hereby established:
A. 
Finance Committee.
B. 
Administration Committee.
C. 
Audit Committee.
All matters, unless otherwise ordered by a vote of the majority of the Village Board, may be assigned by the Village President to one of the above committees, and each committee shall thereafter report on all such matters so assigned to it to the Board at a regular or special meeting of the Board. Any matter may be taken up prior to the report of a committee upon the affirmative vote so to do of a majority of the Board of Trustees.
The Village President shall, at the first meeting of the Board after the regular annual election, assign to the Finance Committee and Administration Committee such members of the Board as he shall deem advisable, but in no event fewer than three. The Village President shall, at the first meeting of the Board after the regular annual election, assign to the Audit Committee, whose duties shall be to make recommendations to the Village Board to assist the Board in the management and control of the Village finances, at least three members of the Board of Trustees and at least two adult residents of the Village of Fox Point whose training, occupation, or experience will facilitate review of the Village's external audits and financial statements, consultation with the external auditor, and review of any other issues regarding accounting principles and practices.