HomeMy WebLinkAbout 17-39 Finance Committe MembershipRESOLUTION NO. 17-39
NEENEEMENE
A RESOLUTION CONCERNING THE MEMBERSHIP, ROLES AND RESPONSIBILITIES
OF THE TOWN OF FIRESTONE FINANCE COMMITTEE
WHEREAS, by Resolution No. 11-26, the Board of Trustees formally established the
Town of Firestone Finance Committee ("Committee") as an advisory committee of the Board of
Trustees in accordance with Section 2.04.130 of the Firestone Municipal Code; and
WHEREAS, by Resolution No. 13-12, the Board of Trustees increased the membership
of the Committee, restated the membership, goals and responsibilities of the Committee, and
repealed and replaced Resolution No. 11-26; and
WHEREAS, the Board of Trustees by this resolution desires to further increase the
membership of the Committee and revise and restate the membership, goals and
responsibilities of the Committee;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
THE TOWN OF FIRESTONE, COLORADO.
ection 1. The Town of Firestone Finance Committee (the "Committee's was formally
established by Board of Trustees Resolution No. 11-26, adopted September 28, 2011. The
Committee shall be an advisory committee of the Board of Trustees. The Committee shall
consist of five members, as follows: two members of the Board of Trustees and three residents of
the Town. Committee members shall be appointed at a public meeting of the Board of Trustees
in accordance with Section 2.04.130 of the Firestone Municipal Code.
Section 2. The following rules shall apply to the Committee:
A. Quorum: Three members of the Committee, one of whom must be a member of the
Board of Trustees, shall constitute a quorum. A majority of the quorum is required to act on any
matter before the Committee, but in the absence of a quorum, a lesser number may adjourn any
meeting to a later time and date.
B. Term: Each Committee member shall be appointed to a two-year term. A
member's term shall commence on the fourth Wednesday of April of each even numbered year
and shall expire on the fourth Wednesday of April two years later. Committee members may be
reappointed without any limit on the total number ofterms served.
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Vacancies/Removal: Committee vacancies shall be filled by an affirmative vote of
a majority of the entire Board of Trustees. The term of any person appointed to the Committee
to fill a vacancy left by a vacating Committee member shall expire on the expiration date of the
term of the vacating Committee member. A Committee member may be removed from the
Committee for any reason by an affirmative vote of a majority of the entire Board of Trustees.
D. Meetings: The Committee shall meet monthly unless there is no business for
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the Committee to consider. Regular meeting dates, times and locations shall be determined
at the first Committee meeting of each calendar year. Meetings of the Committee shall be
subject to the Colorado Open Meetings Law. Staff to the Committee shall keep an
accurate summary or minutes of all Committee meetings, which shall be open for
inspection in accordance with the Colorado Open Records Act. The Committee may call
special meetings or reschedule any meeting by action taken at any meeting.
Section 3. The Committee shall serve in an advisory capacity to Board of Trustees on
matters concerning Town's finances. The Committee's goals and responsibilities shall include
the following:
A. Review the Town's annual draft budget to obtain an understanding of the Town's
financial position as well as budgeting priorities and initiatives determined by the Town Board
and provide feedback on inconsistencies or irregularities to the Town Board.
B. Review financial policies developed and drafted by Town Finance staff and
provide comments and recommendations regarding such draft financial policies to the Town
Board,
C. Periodically review, but no less frequently than as recommended by the State
Auditor's Office, the need for rotation of the Town's independent auditor.
D. Interview selected qualified firms being considered to serve as the Town's auditor.
Make recommendation of auditor for Town Board consideration and approval.
E. Review the Town's draft annual audit, monitor the Town's established internal
controls related to accounting procedures and functions, and provide recommendations regarding
responses to Town auditor's management letter. Provide recommendation to Town Board to
accept the Town's audited year-end financial statements.
F. Other duties as specifically identified and requested by the Town Board.
Section 4. The Committee shall have the power to adopt bylaws, rules, policies and
procedures for the conduct of its activities, which shall be consistent with the provisions of
the Firestone Municipal Code, resolutions and other applicable law. The Committee shall
have the power to determine and appoint its own officers.
Section 5. Resolution Nos. 11-26 and 13-12 are hereby repealed and replaced in their
entirety by this Resolution.
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C���Y,® Bo i Sindelar Mayor Pro- em
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ATTEST:
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Leah Vanarsdall, Town Cleric