(a) There shall be created a Financial Oversight Committee to advise the Board regarding the oversight of financial reporting, audit, the treasury, budgeting, and tax allocation.
(b) The Committee shall, subject to Board approval, adopt and revise a charter for the Committee setting forth membership criteria and powers consistent with the County Code of Ordinances.
(c) The Committee's charter shall include the following requirements for members of the Committee:
(i) A member shall disclose to the committee at a regular meeting any activities that directly or indirectly raised money for:
a. a candidate for local treasurer; or
b. a member of the governing board of any local agency that has deposited funds in the county treasury while a member of the committee.
For purposes of this subsection, raising money includes soliciting, receiving, or controlling campaign funds of a candidate, but not the member's individual campaign contributions or non-financial support. This section does not apply to a member raising money for his or her own campaign.
(ii) A member shall disclose to the Committee at a regular meeting any contributions, in the previous three years or during the period that the employee is a member of the committee, by an employer to:
a. the campaign of a candidate for the office of local treasurer; or
b. to the campaign of a candidate to be a member of a legislative body of any local agency that has deposited funds in the county treasury.
(iii) A member cannot secure employment with, or be employed by, bond underwriters, bond counsel, security brokerages or dealers, financial services firms, financial institutions, and municipal advisors with whom the County is doing business during the member's Financial Oversight Committee membership period or for one year after leaving the Financial Oversight Committee. This subsection only applies to employment or soliciting employment, and not other relationships with such companies with whom the County is doing business.
(iv) A member shall disclose to the Committee any honoraria, gifts, and gratuities from advisors, brokers, dealers, bankers, or other persons who conduct business with the County Treasurer while a member of the Committee. All members shall also comply with the requirements of the Political Reform Act or any other law or regulation regarding the receipt and disclosure of financial benefits and conflicts.
(§ 4, Ord. 1450, eff. January 5, 2015, as amended by § 2, Ord. 1471, eff. October 13, 2016)