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Attachment B <br />CHAPTER 208 <br />FINANCE COMMISSION <br />SECTION: <br />208.01: Establishment and Membership <br />208.02:Scope, Duties and Functions <br />208.01:ESTABLISHMENTANDMEMBERSHIP: <br />Thereis establishedaFinanceCommission of theCitywhich shallconsist of seven <br />membersappointedbytheCityCounciland which shall be subject to Chapter 201 <br />of the City Code. A minimum of three members shallhavefinancial management <br />experience or training. <br />208.02:SCOPE,DUTIESANDFUNCTIONS: <br />TheCity Council has created the Finance Commission to serve in an advisory <br />provide clarity, transparency and accessibility of financial information, to review <br />policies and offer strategies for improved budgeting and funding for present-day <br />affairs. <br />Theduties andfunctionsofthe Commissionmay include: <br />A.Advise on short and long-term financial policy matters, including but not <br />limited to cash reserve funds, budgets, financing, and capital replacement <br />policies. <br />B.Review and recommend funding strategies for the Capital Improvement Plan. <br />C.Recommend budget goals, including but not limited to local tax rate and tax <br />levy targets, management of enterprise funds, and spending levels, <br />D.Review and recommend standardized budget and financial reporting methods <br />and tools to make financial communications and budget information more <br />transparent, comprehensible, and accessible to the public. <br />E.Review and recommend the annual timeline and process for creating City <br />budgets. <br />F.Review the annual financial information, the annual audit report and <br />management letter. <br />G. <br />to the City Council any items of concern or suggested improvements. <br />H.Perform other duties the City Council assigns. <br />(Ord. 1481, 07-20-2015)(Ord. 1522 04-10-2017)(Ord. 1538 12-11-2017) <br /> <br />