Financial Accountability and Audit Panel

Meeting Agenda - Thursday, June 5, 2008

The Financial Accountability and Audit Panel will:

• Review and approve the annual work program to ensure land acquisition priorities are adhered to.
• Review the accounting of the funds generated by the Preservation District.
• Work in conjunction with the City’s independent auditor to ensure that the Preservation District funds were spent properly and that good fiscal management of the funds is occurring.
• Make determinations as to whether the proposed expenditures are consistent with the criteria and the requirements established in the Engineer’s Report.
• Prepare an annual written report for the public, summarizing the items above.

The Panel will not be responsible for the selection of land to be acquired by the City; rather, prospective land acquisition is the responsibility and authority of the City Council. Additional responsibilities, duties, and guidelines of the Panel will be outlined and formally approved in the Panel’s Bylaws.

City Council is encouraging residents to apply for a position on the Financial Accountability and Audit panel.