The Audit Committee consists of five members who each serve a one (1) year term, with a limit of three (3) consecutive terms. However, the City Council reserves the right to waive this limit of tenure by a two-thirds (2/3) vote of the Council. The Mayor shall select three (3) City Council members to serve on the Audit Committee, subject to City Council approval. The Finance Committee shall select two of its members to serve on the Audit Committee. Terms of the appointees to the Audit Committee shall expire on December 31 each year.
The Audit Committee shall serve as an advisory body to the City Council on matters concerning the City's annual audit. Primary responsibilities and duties of the committee include:
Coordinate the process of soliciting, selecting and hiring of the auditing firm, including presentation of recommended firm to the City Council for approval;
Work cooperatively with the auditing firm during the audit;
Review and present recommendations on audit results to the City Council; and
Otherwise work to improve the annual audit process.