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CHAPTER 208 FINANCE COMMISSION SECTION: 208.01: Establishment and Membership 208.02: Scope, Duties and Functions 208.01: ESTABLISHMENT AND MEMBERSHIP: There is established a Finance Commission of the City which shall consist of seven members appointed by the City Council and which shall be subject to Chapter 201 of the City Code. A minimum of three members shall have financial management experience or training. 208.02: SCOPE, DUTIES AND FUNCTIONS: The City Council has created the Finance Commission to serve in an advisory capacity regarding the City’s financial matters to make recommendations that will provide clarity, transparency and accessibility of financial information, to review policies and offer strategies for improved budgeting and funding for present-day operations and future needs, and to review the city’s financial affairs. The duties and functions of the Commission may include: A.Advise on short and long-term financial policy matters, including but not limited to cash reserve funds, budgets, financing, and capital replacement policies. B.Review and recommend funding strategies for the Capital Improvement Plan. C.Recommend budget goals, including but not limited to local tax rate and tax levy targets, management of enterprise funds, and spending levels, D.Review and recommend standardized budget and financial reporting methods and tools to make financial communications and budget information more transparent, comprehensible, and accessible to the public. E.Review and recommend the annual timeline and process for creating City budgets. F.Review the annual financial information, the annual audit report and management letter. G.Review City’s financial affairs and investment policy and portfolio, and bring to the City Council any items of concern or suggested improvements. H.Perform other duties the City Council assigns. (Ord. 1481, 07-20-2015) (Ord. 1522 04-10-2017) (Ord. 1538 12-11-2017) Attachment A