Members of the committee shall not be full time employees of the city of Rupert and each member must have the ability to understand and resolve issues raised by any independent audit of the city's financial statements. The committee shall oversee the annual independent audit of the city's financial statements, including, but not limited to, selection of the independent auditor, review of audit materials, and formation of recommendations for the city of Rupert. The committee shall report to the city council during its public meeting when the city's annual audit is presented and make its own recommendations and findings as needed; additionally, the committee should present an annual written report to the city council and mayor, which shall be available to the public, regarding how it has discharged its duties and met its responsibilities. The committee shall report to the city council, from time to time, as requested by the city council or mayor. (Ord. 07-503, 4-17-2007)