HomeMy WebLinkAbout1981-008RESOLUTION NO. 81-8
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF
INDIAN RIVER COUNTY, FLORIDA, that there is hereby created
and established a finance advisory committee within Indian
River County, hereinafter known as the FINANCE ADVISORY
COMMITTEE. The purpose, responsibilities, limitation,
organizational structure, qualifications of members, appointment
of members, terms of office of members and meetings shall all
be according to the following guidelines:
A. PURPOSE. The FINANCE ADVISORY COMMITTEE is formed
to develop information which would be helpful in administering
the fiscal affairs of the County on a sound and business -like
basis.
B. RESPONSIBILITIES. It shall be the responsibility of
the FINANCE ADVISORY COMMITTEE to:
1. Furnish advice to the County Commission on
financial and accounting matters;
2. Provide counseling with the County Administrator
and Finance Director on similar matters; and
3. It is the intent that the FINANCE ADVISORY COM -
COMMITTEE will not be involved in the day-to-day
investments but shall review and advise on
administrative procedures on a periodic basis,
striving to improve investment goals and the
procedures to accomplish those goals.
C. DUTIES:
1. Assist the County Commission in the selection of an
an accounting firm to perform an independent annual
audit of the financial records and statements of
the County (and Constitutional Officer's budget).
2. Screen and recommend to the County Commission the
selection of bond counsel in connection with any
proposed bond issues.
3. Conduct a continuing review of the investment
program of the County to maximize the return on
money invested.
4. Initiate studies or inquiries on financial and
accounting matters which may be deemed advisable by
the FINANCE ADVISORY COMMITTEE and/or the County
Commission.
Investigate financing options available to the
County on major capital improvements projects and
all expenditures, making recommendations accordingly.
D. LIMITATIONS: The FINANCE ADVISORY COMMITTEE shall:
1. Act only in an advisory capacity.
2. Have no authority to implement any of its
recommendations.
3. Be nonpolitical in nature.
4. Have no budget.
E. ORGANIZATIONAL STRUCTURE:
1. The FINANCE ADVISORY COMMITTEE shall consist of
five (S) members; all of whom shall be residents of
Indian River County; one of whom shall be Chairman,
one Vice -Chairman and one Secretary.
2. Regular ex -officio members of the COMMITTEE shall be
either the County Administrator or his authorized
representative, and either the Finance Director or
his authorized representative.
F. QUALIFICATIONS OF MEMBERS: COMMITTEE Members shall have
diversified experience in financial and/or accounting fields.
G. APPOINTMENT OF MEMBERS:
1. The members of the FINANCE ADVISORY COMMITTEE shall be
appointed by majority vote of the County Commission,
such appointments to be made no later than January 31st
of each year, except for initial appointments.
2. The COMMITTEE shal elect annually its Chairman, Vice
Chairman and Secretary.
3. Each COMMITTEE member shall serve at the pleasure of
the County Commission. Any appointment may be terminated
I
as a majority of the County Commission determines.
I -I. TERM OF OFFICE OF MEMBERS.
1. The term of Office shall commence upon appointment
and shall run for an approximately two-year period,
except initially two members shall be appointed for
one year and three members for two years.
2. The terms of office shall be arranged so that not
more than three (3) shall expire at any one time.
3. In the event a COMMITTEE member. does not complete
a full term of office, the term of office of the
replacing member shall terminate at the expiration
date of the member replaced; a replacing member may
be eligible for reappointment to a new two-year
term of office.
I. C014MITTEE MEETINGS:
1. Meetings shall be at the call of the COMMITTEE
Chairman.
2. The meetings shall be conducted in the. Conry
Commission Chamber or other appropriate public
place.
3. The minutes of the meetings shall be recorded.
Said Resolution shall be effective as of the clay
of 1981.
Attest:
Fr:da Wright,;-", per
BOARD OF COUNTY COMMISSIONERS OF
INDIAN RIVER COUNTY, FLORIDA
By
atrick B. Lyon V
hairman