The Financial Audit Committee shall be comprised of three (3) members, who shall be appointed by the Mayor. Each member shall have an expertise in financial matters, including an understanding of generally accepted accounting principles which are relevant to standards for local government accounting and financial reporting, as well as an understanding of financial statements, generally accepted auditing standards, and experience in preparing, auditing, analyzing, or evaluating financial statements and accounting issues attendant to the City's financial operations. The Chairman of City Council's Finance Committee will serve as an Ex Officio/non-voting member of the Committee.