AUDIT COMMITTEE

It shall be the responsibility of the audit committee to provide independent review and oversight of a government's financial reporting processes, internal controls and external auditors. The audit committee’s functions may include: (a) participating in the process of selecting or retaining the consolidated government’s independent external auditor; (b) communicating directly with the external auditor on at least an annual basis to review the work of the external auditor as to the scope of the annual audit and any matters of concern with respect to internal controls; and (c) reviewing any reports of the internal auditor in advance of their presentation to Council. The internal auditor of the consolidated government will be available to provide information and technical assistance to the Committee. The Council shall bi-annually designate two of its members and three external members to serve as an audit committee. The external members will be required to have a finance, governmental or accounting background. Two external members will be chosen by the Mayor, and one external member to be chosen by City Council. No member may serve more than six continuous years. The terms shall be two years and members may serve three consecutive terms (Ref. of 11-8-22)