A. There shall be five (5) voting members of the committee. All members shall be residents of the village, except the director of finance, who shall serve as an ex officio member. The voting members shall consist of the following:
1. Two (2) members of the board of trustees;
2. One member of the finance commission; and
3. Two (2) residents at large.
B. Every two (2) years at the first meeting of the calendar year, a chairperson shall be elected by the members of the committee. The chairperson shall serve no more than two (2) consecutive terms as chairperson.
C. Each member of this committee shall serve for a term of four (4) years. Terms may be adjusted by the mayor and board of trustees to assure no more than three (3) terms end in any particular year. In the event that a member of the committee is an elected official who fails to retain a seat on the board of trustees, the committee position shall be vacated and another member of the board of trustees shall be appointed to serve any remaining portion of the term. (Ord. 6149, 8-5-2014)