The
purpose of the Budget and Finance Committee (the "Committee") is to
assist the Incorporated Village of Port Jefferson (the "Village")
Board of Trustees in the preparation and review of the Village's
Operating and Capital Budgets, and in the review of the annual independent
audit, and to make recommendations to the Board of Trustees regarding
such.
The
Committee shall consist of five voting members, who shall be nominated
by and appointed by a majority of the Board of Trustees (including
the Mayor); two of whom will serve a three-year term, two of whom
will serve a two-year term, and one of whom will serve a one-year
term, with all terms expiring on June 30 of the term expiration year.
The members shall be independent of the management and business activities
of the Village. At least four members of the Committee shall be residents
of the Village.
The
Committee shall annually select one member to be the Chairperson and
one member to be the Vice Chairperson. Both the Chairperson and the
Vice Chairperson shall be residents of the Village.
The
Committee shall meet as required to perform its mission and shall
have regularly scheduled meetings at least once a month. The Committee's
duties include assisting and reviewing the preparation of the preliminary
and adopted budgets, and meeting with the independent auditors prior
to the adoption of the annual audit. The Committee is charged to meet
with Village officers, employees, elected officials, other board and
committee members, outside consultants, lawyers, auditors and other
third parties as necessary to perform their function.