The commission shall have the following purposes, goals, powers and duties:
A. To recommend assumptions and financial benchmarks to be used in the village's annual budget process.
B. To review the draft annual budget and provide recommendations in advance of the review by the village board.
C. To perform a quarterly review of the village's financial statements and related reports and make recommendations to the village board regarding any current year financial trends or issues.
D. To perform an annual review of the village's performance against the village's long range master infrastructure plan and five (5) year capital plan, and periodically review and consider modifications to the village's long range master infrastructure plan and five (5) year departmental capital plan.
E. To recommend long term strategic plans with regard to the village's budget or any other matter related to finance as directed by the village board, the village president or the chairperson of the administration and community affairs committee of the village board.
F. If authorized by a majority vote of the commission members, the commission may study or review any other matter related to village finance. (Ord. O2013-07, 3-19-2013)