[Ord. No. 01-02, § 1, 2-7-2001]
There is hereby established a financial board of review of the
Town Council.
[Ord. No. 01-02, § 1, 2-7-2001; Ord. No. 03-08, § 1, 4-2-2003]
(a)
The financial board of review shall consist of all members of the
Town Council and shall be chaired by a chairperson to be elected by
majority vote of the Town Council. Meetings shall be held once per
month on the third Wednesday of the month at 7:30 p.m. in the Council
chambers at the Cumberland Town Hall as part of the regularly scheduled
Town Council meeting.
(b)
All agenda items must be submitted to the Town Clerk by 3:00 p.m.
on the Thursday prior to the regularly scheduled meeting.
(c)
No meeting shall take place unless at least four of the Town Council
members are present to constitute a quorum. The date, place and time
of each meeting shall be published in accordance with all applicable
rules and regulations pertaining to the Rhode Island Open Meetings
Law and all records, minutes and notes of said board of review shall
likewise be kept in compliance with said law.
[Ord. No. 01-02, § 1, 2-7-2001]
The purpose for said financial board of review shall be to review,
approve and act as a fiscal review committee to the Town Council relating
to financial matters as outlined in the Cumberland Home Rule Charter.
The board shall:
(1)
Receive and review the Mayor's annual budget proposal.
(2)
Approve or reject any and all bills presented to it by the administration.
(3)
Approve or reject the monthly finance report presented to it by the
administration.
(4)
Review and approve the annual tax assessment levy from the administration.
(5)
Review and give consideration to any other financial matter which
may be presented to it otherwise not enumerated above.
(6)
To review and approve the annual audit.
