Editor's Note: Ord. No. 1625 §1, adopted 1-21-1997, repealed
Ch. 143 in its entirety without provisions for replacement. The former
chapter derived from Ord. No. 1207, 2-26-1991. Subsequently, Ord.
No. 1925, adopted 1-2-2001, was set out in this chapter.
[Ord. No. 2505[1] §2, 10-12-2009]
A Finance/Audit Committee to monitor revenues, expenditures
and budget compliance of the City is hereby established. This Committee
will oversee the auditing of the City's financial records and
shall review and comment on the annual audit prior to a presentation
to the Board of Aldermen. The Committee shall consist of the Mayor
and one Alderman from each ward, nominated by the Mayor and approved
by the Board of Aldermen. The Chairman shall be chosen from the members
of the Committee and will be a signatory for the City.
[1]
Editor's Note: Section 1 of this ordinance also repealed
former Ch. 143, Audit Committee, adopted 1-2-2001 by Ord. No. 1925
§§1—3.
[Ord. No. 2505 §3, 10-12-2009; Ord. No. 2802 §1, 3-3-2015]
The Finance/Audit Committee shall hear staff financial reports
and funding requests, compare actual revenues and expenses to the
budget and financial projections, recommend approval or denial of
funding requests to the Board of Aldermen and alert the Board of Aldermen
in a timely manner regarding any budget compliance issues or other
financial concerns. The Finance/Audit Committee shall work with staff
as needed to prepare the upcoming year's budget.
[Ord. No. 2505 §4, 10-12-2009]
The Vice Chair, who will also be appointed by the Committee,
will act as Chairman and serve as a signatory for the City in the
absence of the Chairman.
[Ord. No. 2505 §5, 10-12-2009]
Finance/Audit Committee members shall serve for one year beginning
May 1 of each year or until replaced by the Mayor and Board of Aldermen.
[Ord. No. 2505 §6, 10-12-2009; Ord. No. 2636 §1, 5-1-2012; Ord. No. 2802 §2, 3-3-2015]
The Finance/Audit Committee shall meet as necessary at times
determined by the Chair or Vice Chair.
