Tuesday, March 17, 2009

Financial Review Board Re-Established

Last night at the City Council meeting, Council voted to re-establish the Financial Review Board, an appointed group of citizens who review the City's finances and provide guidance and suggestions to City Council. The applicable portion of the Elyria Ordinances is below. If you have any interest in serving the City in this capacity, please contact a Council member and ask to have your name submitted for consideration.

CHAPTER 176 Financial Review Board

176.01 CREATED; MEMBERS; TERM.
There is hereby created and established a Financial Review Board, which shall consist of five members appointed for terms of five years each. The members of the Board first appointed under this chapter shall be as follows: one of such members shall be appointed for a one-year term; one of such members shall be appointed for a two-year term; one of such members shall be appointed for a three-year term; one of such members shall be appointed for a four-year term, and one of such members shall be appointed for a five-year term and shall continue in office until his successor is appointed. Two of the members of the Board shall be appointed by the Republican members of Council; two of the members shall be appointed by the Democrat members of Council; and the fifth member shall be appointed by the other four members of the Board. In the event that there are no Republicans on Council, then the City Chairman of the Republican Party shall make the Republican appointments. In the event that there are no Democrats on Council, then the City Chairman of the Democrat Party shall make the Democrat appointments.
(Ord. 77-72. Passed 5-26-77.)

176.02 MEETINGS.
The Financial Review Board shall meet as often as necessary, but not less than twice each calendar year, preferably in January and early July.
(Ord. 77-72. Passed 5-26-77.)

176.03 DUTIES.
The duties of the Financial Review Board shall be to review the budget, year end reports and other financial matters of the City; to meet with Council's Finance Committee, the administration, the Auditor, Finance Director and such other persons as the Board deems advisable; and to make recommendations to Council concerning the City's financial matters.
(Ord. 77-72. Passed 5-26-77.)

176.04 COMPENSATION.
The members of the Financial Review Board shall serve without compensation.

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