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CREATION: |
A Finance Advisory Committee is hear by established by order of the Mountain Lakes Borough Council.
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APPOINTMENTS: |
The Finance Advisory Committee shall be composed of seven members appointed by the Borough Council to staggered terms of three years. |
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PURPOSE: |
The Finance Committee shall: |
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1. |
Assist the Borough Council in its annual review and approval of all Municipal Budgets. |
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2. |
Assist and advise the Borough Council regarding major capital expenditure projects and financing (including borrowings). |
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3. |
Develop longer term (3 year plus) financial projections and budgets for Borough Council guidance and planning. |
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4. |
Assist and advise the Borough Administration and Council regarding major capital expenditures, long term projections and financing plans for the Borough. |
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5. |
Assist and advise the Borough Administration and Council with regard to financial and accounting policies, procedures and internal reporting systems. |
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6. |
Assist and advise the Borough Council and Administration in establishing Utility fee structures and rates. |
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7. |
Assist and advise the Borough Council in the selection of the Borough Auditor. Review all Audit reports and meet at least annually with the Auditor and report all findings to the Borough Council. |
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8. |
Conduct training seminars on Borough financial affairs for all new Council Members, committee and Commission Heads. |
