(A) The Finance Advisory Committee will advise the City Council on matters pertaining to the state of city finances and may be called upon by the City Council to review, analyze, and recommend improvements or resolutions to problems in the areas of financial planning, revenue generation, budgeting, purchasing, financing, and auditing.
(B) The Committee will review the draft city budget as prepared by the City Manager for presentation to the City Council. The Committee may recommend changes in Council policy regarding revenue generation, collection, and investment; budgeting; general or capital expenditures; or accounting procedures and internal controls. The Committee may recommend improvements in future budget documents and financial reports with an eye to readability and good communication of the state of city finances to the public. The Committee may recommend privatization, or consolidation, or other means of cost savings and higher efficiencies.
(C) The Committee will, from time to time, assist in the selection of city auditors; review the scope, content and timing of audits of city funds and the efficiency of the process; and review and comment on recommendations and problems identified by the auditor in the audit report and management letter.
(D) The Committee will act as the Oversight Committee for the Supplemental Transactional Use Tax as approved by voters.
(Ord. 920-C.S., passed 9-7-21)