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Item # 3.
Town Council Regular Session
Stacey Lemos, Finance
RESOLUTION NO. (R)19-01, ESTABLISHING A BUDGET AND FINANCE COMMISSION AND ESTABLISHING THE TASKING AND OPERATIONS OF SAID COMMISSION BY ADOPTING THE DOCUMENT KNOWN AS THE "OPERATING PROCEDURES ORO VALLEY BUDGET AND FINANCE COMMISSION" AND MAKING SUCH A DOCUMENT A PUBLIC RECORD (THE RESOLUTION AND OTHER ATTACHMENTS WILL BE UPLOADED ONCE FINALIZED) (RESOLUTION AND OTHER ATTACHMENTS ADDED 1/3/19 @ 4:45 PM)
For Council consideration and action.
This item is placed on the agenda at the request of Mayor Winfield and Councilmember Jones-Ivey to establish a citizen-based Budget and Finance Commission in order to provide the elected body with external citizen advice and evaluation of key issues related to the financial operation of the Town of Oro Valley.
BACKGROUND OR DETAILED INFORMATION:
The Town Council had previously established a five-member citizen-based Budget and Bond Committee, later renamed 'Finance and Bond Committee,' back in 1999 to review and provide recommendations to Council on various finance, audit and budget-related issues. This Committee was dissolved by the Town Council in 2010 with the consideration that in lieu of a standing committee, separate ad hoc, citizen-based task force(s) could be formed as needed in the future to evaluate budget and finance-related topics and provide recommendations to the Town Council.
This agenda item proposes the formation of a citizen-based Budget and Finance Commission with responsibilities and tasks consistent with those of the former Finance and Bond Committee to include reviewing and providing recommendations on the Town Manager's annual Recommended Budget and 10-Year Capital Improvement Plan, the annual 5-year financial forecast, the Town's annual financial audit and assisting in the selection of the Town's independent audit firm. The proposed scope of the Commission, as outlined in the attached Operating Procedures, also includes the opportunity for the Commission to study and make recommendations to Town Council on other topic-specific items as requested by the Council or the Town Manager.
Additional detail about the operating procedures and tasking of the Budget and Finance Commission is included in the attachment to this Council communication.
There is an estimated annual fiscal impact of approximately $1,000/year for support staff and ancillary expenses.
I MOVE to approve/deny Resolution No. (R)19-01, establishing a Budget and Finance Commission and establishing the tasking and operations of said Commission by adopting the document known as the "Operating Procedures Oro Valley Budget and Finance Commission."
(R)19-01 Budget and Finance Commission
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