The City of Reading City Council hereby empowers the City of Reading Audit Committee to execute its mission by:
A. Providing funding for the engagement and the services of an external auditor and other government financial experts as determined by a majority vote of the Committee;
B. Providing access to the schedule of audits and reports produced by the internal elected auditor;
C. Providing authority to ensure appropriate corrective action is taken by City management in response to the internal and external audits;
D. Providing authority to establish procedures for the confidential receipt, retention and treatment of complaints regarding accounting, internal accounting controls, or auditing matters from City municipal employees;
E. Providing authority to review the financial documents and procedures of all related boards and commissions to ensure accurate financial reporting and make recommendations for improvements to the various financial procedures.