[Ord. No. 96-14, § 1, 6-5-1996]
There shall be established a finance subcommittee organized
and operating as follows in this division.
[Ord. No. 96-14, § 1, 6-5-1996]
The finance subcommittee shall be composed of three members
of the Town Council, appointed by the Town Council president. The
Town Council president shall designate a Town Council member as chairperson.
The chairperson of the finance subcommittee will assign a subcommittee
member as recording secretary for the subcommittee. The Town Council
president shall be a ex-officio member of the subcommittee.
[Ord. No. 96-14, § 1, 6-5-1996]
The finance subcommittee shall meet a minimum of nine times
annually at a time and date mutually acceptable to the members thereof.
The date, place and time shall be posted per all rules and regulations
of the Town and subject to the Rhode Island Open Meetings Law. All
meetings shall be held in a place easily accessible to the public
as well as handicap accessible. No regularly scheduled meeting shall
take place unless at least two of the three members of the subcommittee
are present, not counting ex-officio members. All records, minutes
and votes of the subcommittee shall be public and maintained in accordance
with the Rhode Island Open Meetings Law. The finance subcommittee,
with input from the finance director of the Town and any other officer
shall meet to review, with citizen input, financial matters that are
before it on the agenda. The finance subcommittee shall report monthly
at the regular meeting of the Town Council in order to apprise the
entire Town Council of its activities.
[Ord. No. 96-14, § 1, 6-5-1996; Ord. No. 98-10, § 1, 5-12-1998; Ord. No. 98-11, § 1, 6-3-1998; Ord. No. 99-40, § 1, 11-17-1999; Ord. No. 01-02, § 2, 2-7-2001; Ord. No. 01-14, § 1, 5-2-2001; Ord. No. 03-08, § 2, 4-2-2003]
The finance subcommittee is to meet, review, approve and act
as a fiscal review committee representing the Town Council regarding
fiscal matters that relate to expenditures as outlined in the Cumberland
Home Rule Charter. The chairperson of the finance subcommittee or
his/her designee shall be notified of all proposed bidding and afforded
the opportunity to be present at all bid openings held by the Town.
The finance subcommittee shall review and recommend to the entire
Town Council an opinion of the administration's proposed budget at
the annual budget hearings. The finance subcommittee shall also act
on all accounts and claims against the Town as are referred to it
by the Council president and for which the Town has no operative insurance
coverage. The finance subcommittee shall formulate a policy and/or
procedure to include the application process and supporting documentation
needed to resolve these claims. The finance subcommittee shall also
review the recommended tax assessment levy and report back to the
entire Town Council with its recommendation.