Section 106-360; Ord. 18577; Amending Chapter 2 of the City Code to change the name of the Finance Advisory Committee to the Finance Advisory and Audit Committee


Ordinance No.             18577                     Council Bill No.            B 216-05           


AN ORDINANCE

amending Chapter 2 of the City Code to change the name of the Finance Advisory Committee to the Finance Advisory and Audit Committee; and fixing the time when this ordinance shall become effective.

BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBIA, MISSOURI, AS FOLLOWS:

    SECTION 1.  Chapter 2 of the Code of Ordinances of the City of Columbia, Missouri, is hereby amended as follows:

    Material to be deleted in strikeout; material to be added underlined.

ARTICLE VII.  FINANCE ADVISORY AND AUDIT COMMITTEE

Sec. 2-401. Establishment; composition; terms.

    The finance advisory and audit committee is hereby established. The committee shall be composed of five (5) members appointed by the city council to serve three-year staggered terms. Members shall be qualified voters and residents of the City of Columbia for at least one (1) year prior to their appointment. One (1) member appointed must be a commercial banker, with knowledge of public finance and investment banking. One (1) member appointed must be a certified public accountant with knowledge of public administration and finance. Consideration shall be given to the appointment of at least one (1) member who is an owner of a business. Members appointed by the city council shall serve without compensation. Appointments to fill vacancies shall be for unexpired terms only. Members shall serve until their successors are appointed. The committee shall elect its own chair annually. The finance director or the director's designee shall serve as a nonvoting ex-officio member. Staff for the committee shall be provided by the finance department.

. . .

Sec. 2-403. Duties.

    The finance advisory and audit committee shall be solely advisory to the city council. The committee shall make recommendations on financial matters to the city council as needed. In formulating reports, policies and recommendations to the city council, the committee may consider the following areas:

. . .

    SECTION 2.  This ordinance shall be in full force and effect from and after its passage.

    PASSED this 5th day of July, 2005.