There is hereby established a Fiscal Advisory Board, hereinafter
referred to as the "Board." The Board's purpose shall be to advise
the Mayor as to fiscal issues affecting the City, including sources
of revenue and cost reductions in support of reducing the City's
reliance on state aid. The Board shall continue for a three-year period
coinciding with the three-year projection demonstrating a path to
reduced reliance on state aid required by the New Jersey Department
of Community Affairs, Local Finance Board Notice (LFN 2010-14) prescribing
the requirements of applications for state transitional aid.
The members of the Board shall be comprised of residents of
the City of Camden who have broad experience and knowledge of fiscal
issues affecting the City.
The Board shall consist of nine members who shall be appointed
by the Mayor.
The Board Chairperson shall be appointed by a majority vote
of the Board members.
Board members shall each serve for a term of three years coinciding
with the three-year period described in § 26-147 above.
The Board shall advise the Mayor in writing and/or orally as
to fiscal issues affecting the City, including sources of revenue
and cost reductions in support of reducing the City's reliance
on state aid.
The Board shall meet periodically and shall report to the Mayor
as needed or upon the request of the Mayor.
A quorum shall consist of 2/3 of the voting membership.
There is no provision herein made for the hiring or employment
of officers and employees of the Board. The Board shall serve without
compensation and function solely in an advisory capacity in making
recommendations to the Mayor from time to time with regard to its
purpose and duties stated above.