175.01 ESTABLISHED; MISSION; MEMBERSHIP; TERM.

   There is hereby established a Citizen Finance Advisory Committee ("CFA Committee").  The mission of the CFA Committee shall be to provide effective financial know-how and advice to Council on a continuing and an as-needed basis with the intent to create and sustain excellence in financial governance, reporting and decision making. The Committee shall be composed of seven (7) city residents, a majority of which shall have a background in the area of business leadership, financial management and reporting, and are committed to become involved in a detailed manner with this working CFA Committee. Each Council member shall choose one (1) member of the CFA Committee, who shall serve for a period of three (3) years. Inaugural members will be appointed for a period of one, two and three years with  one (1) member appointed for one year, three (3) members appointed for two years and three (3) members appointed for three years. Members of the CFA Committee shall serve voluntarily and with compensation at the rate of $75.00 per meeting attended. Members of the CFA Committee may be removed at any time in the discretion of Council. Vacancies shall be filled by Council. The Finance Director and Auditor shall be permanent members of the CFA Committee.

(Ord. 2018-153.  Passed 10-22-18.)