[HISTORY: Adopted by the Town Council of the Town of Smithfield 1-19-2010 by Ord. No.
2010-01. Amendments noted where applicable.]
GENERAL REFERENCES
Financial management — See Ch. 34.
There is hereby established a Financial Review Commission with
the duties and purposes set forth in this chapter.
[Amended 6-22-2010 by Ord. No. 2010-06]
A.
The Financial Review Commission shall consist of five regular members
and two alternate members who shall be designated as first and second
alternates. All Commission members shall be appointed by the Town
Council from among the qualified voters of the Town. Each regular
member shall serve a term of five years, except that the terms shall
be arranged so that the term of one regular member shall expire each
year. Each alternate member shall serve a term of one year. In the
event that a Commission member shall have missed three consecutive
meetings without consent of the Commission Chair, then his or her
membership shall expire forthwith. In the event of a vacancy on the
Commission for any reason, the Town Council shall make an interim
appointment for the remainder of the unexpired term. Members shall
be eligible for reappointment.
B.
The alternate members shall sit and may actively participate in meetings
of the Commission. The first alternate shall vote if a regular member
of the Commission is unable to attend or participate in a meeting
and the second alternate shall vote if two regular members of the
Commission are unable to attend or participate in a meeting. In the
absence of the first alternate member, the second alternate member
shall serve in the position of the first alternate member.
The Commission shall meet monthly, shall organize annually and,
by election, shall select from its members a Chair, Vice Chair and
Secretary and may adopt any rules of procedure deemed necessary for
the proper discharge of its duties. Meetings of the Commission shall
be conducted in accordance with the Rhode Island Open Meetings Act.[1]
[1]
Editor's Note: See G.L. § 42-46-1 et seq.
Three members of the Commission shall constitute a quorum, and
no vacancy in the membership shall impair the right of a quorum to
exercise all the rights and perform all the duties of the Commission.
[Amended 1-19-2016 by Ord. No. 2016-01]
The general duties and purposes of the Financial Review Commission
are as follows:
A.
Receive and review the annual audit report and monitor the Town's
compliance with recommendations;
B.
Review and discuss financial trends and five-year budget projections
with the Finance Director semi-annually in April and October;
C.
Complete project as assigned by the Town Council on the Town's
operations, as requested, and compile recommendations where applicable
to increase revenue, improve productivity and/or reduce costs;
D.
Issue reports to the Town Council on assigned projects when such
projects are completed;
E.
Provide the Town Council with a summary project report to outline
the status on assigned projects which are completed and in process;
and
F.
Schedule and conduct workshops with the Town Council to provide guidance
to the Council regarding financial matters related to assigned projects.
The Commission shall be advisory in nature. Commission members
shall serve without compensation. The Town Manager shall provide the
Commission with such clerical and administrative assistance as may
be necessary to carry out its duties hereunder.
The Smithfield Financial Review Board is hereby dissolved as
of the effective date of this chapter.
