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A. Purpose. The purpose of the finance committee is to advise the city council on matters concerning general fiscal policy and the financial operations of the city. The committee’s responsibilities shall include, but are not limited to, producing and reviewing budget documents and financial reports, analyzing policy matters related to city finance, and review of claims and vouchers for payment.

B. Role. The finance committee is authorized to approve, on the council’s behalf, payment of claims and vouchers whenever the council does not hold its regularly scheduled city council business meetings on the second or fourth Monday of the month as scheduled. Ratification of the finance committee’s approval will be sought at the next business meeting of the council. The finance committee may also from time to time be directed by the council to review specific financial questions and to make recommendations to the council regarding fiscal policy matters.

C. Membership. The finance committee shall include two members of the city council. Appointments to the committee shall be made by the mayor subject to approval by the council. The city administrator, or the clerk/treasurer if so designated by the city administrator, shall act as chair of the committee.

D. Quorum. For purposes of audit review, one committee member shall constitute a quorum. For all other matters, two committee members shall constitute a quorum.

E. Meetings. The finance committee shall review claims and vouchers electronically or in paper copy each Wednesday immediately preceding a regular business meeting of the city council and shall meet on the third Wednesday of each month from 5:30 p.m. to 7:30 p.m. in the city council chambers of Algona City Hall. Recommendations of the committee shall be presented to the entire council for discussion and potential action as necessary. Special meetings of the finance committee may be called as needed. (Ord. 1186-21 § 1 (Exh. A), 2021).