An Audit Committee, which shall consist of five members, is hereby created and established. Three members of the Audit Committee shall be electors of the municipality appointed by Council, with a background in law, business, banking, finance, governmental accounting or auditing, and shall be appointed as follows: one elector appointed pursuant to this section shall be appointed for a term of one year, one elector shall be appointed for a term of two years and one elector shall be appointed for a term of three years. Thereafter, each elector shall be appointed for a three-year term. The other two members shall be the Chairman of the Finance Committee and the Law Director, who shall each be appointed for a two-year term to run concurrent with Council standing Committee appointments.
(Ord. 2477. Passed 7-10-08.)