Finance & Investment Committee
The Membership of this Committee shall consist of eight (8) members.
Members shall meet at least one of the following qualifications:
(1) five years accounting and financial experience in a public corporations,
municipal government or privately held business; (2) financial officer
of a public corporation with five years experience; (3) investment
officer of a F.D.I.C. member institution with five years experience;
(4) money manager who specializes in corporate or government agency
issues with a minimum of five years experience; or (5) five years
experience in investment banking, venture capital and/or general
management.
The Charges
to and Duties of this Committee are to:
- serve as an advisory body to the City Council on
financial and investment matters;
- assist in the development of five-year capital budgets
and revenue projections;
- review the annual budget and make recommendations
to the City Council;
- review the annual audit and make recommendations
to the City Council;
- study all fiscal issues and recommend possible improvements
and economies; and
- recommend investments to protect capital, provide
adequate liquidity and generate market returns. All
such recommendations must be approved by the City
Council. The City Manager will execute any approved
investment decisions.
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