The responsibilities and duties of the Finance Committee shall include the following items, together with any additional duties assigned by Council:
• Review the financial aspects of all purchase orders, contracts, and other documents, exceeding a threshold amount established by Council, by which the Municipality incurs financial obligations.
• Audit and review payment of all invoices, and other evidences of claims or charges against the Municipality.
Establish appropriate exemptions to the above to maintain the effective and efficient operation of the Municipality.
• Seek the advice of the Law Director as necessary to determine the regularity, legality and correctness of any claims, demands or charges.
• Assist in the coordination of budget preparation and recommend the budget to Council.
• Recommend fiscal policy to the Mayor and Council.