Attachment A - DRAFT Financial Strategy Committee Charter

DRAFT City of Boulder Council Committee Charter Financial Strategy Committee Purpose Statement The Financial Strategy Committee (the “Committee”) shall have the primary responsibility as an advisory committee regarding short and long-term financial policy and planning to achieve financial sustainability across future years.

Committee Membership There are several existing internal city council committees that help guide policy and decision making in key areas in partnership with city staff. Council members vote among themselves annually to appoint members to council committees. -

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The Committee consists of three (3) City Council members appointed by City Council for two-year terms, approved on an annual basis. Three committee members are necessary to provide sufficient policy guidance on the Long-Term Financial Strategy and the city’s annual budget development process. Staff members consist of one representative from the City Manager’s Office, the City Attorney, the Chief Financial Officer, and the Budget Officer plus at least one (1) Budget Office staff member, who will write meeting minutes, create an agenda, and facilitate other administrative matters.

Responsibilities • • •

Adopt bylaws, rules, or policies for the guidance and governance of the Committee; Serves as an advisory committee to help support financial sustainability as an organization; Provides recommendations and feedback to staff on key financial policy considerations, including the city’s short and long-term financial planning;

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Provides feedback on financial presentations to council to support a more effective and efficient council conversation; Collaborate with the city’s Finance Department, City Council and the community with the goal of building awareness, understanding and support for the city’s annual budget and long-term financial policy and planning.

Authority Committee members provide policy guidance and recommendations to city staff on the annual city budget and short- and long-term financial planning as part of the city’s LongTerm Financial Strategy.

Escalation from Committee to Full Council The Committee may recommend the City Manager bring forward specific short- or longterm financial planning items to the full City Council. As appropriate, items for discussion with the full City Council may be brought forward during the annual financial forecast update, annual budget meetings, or regularly scheduled adjustments-to-base held twice a year in May and November.

Out of Scope The Committee serves in an advisory capacity only and shall not make decisions related to financial strategy or budget. The Committee shall not exercise administrative functions unless expressly authorized in the Boulder Charter and Boulder Revised Code, as such functions are reserved to the City Manager.

Committee Meetings -

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The Committee will meet monthly or more/less frequently as needed and held at a convenient location established by the Committee. Committee members may be asked to periodically review materials in advance of committee meetings. Committee meetings are held for one hour and fifteen minutes and may be shorter if the committee and staff finish agenda topics before the end of the scheduled meeting time. Committee meetings must be open to the public. Public notice of process committee meetings will be provided via the City of Boulder’s calendar of events. Agendas will be posted to the webpage: https://bouldercolorado.gov/events. City staff develops agendas and meeting minutes for each committee meeting. Committee quorum is set at two committee members; two committee members must be present to hold the committee meeting. The Committee consists of members and does not elect or appoint a chair. All committee members have equal authority.

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Meetings of the Committee, like all council committee meetings, are not video or audio recorded.

City of Boulder Charter References to Council Committees Excerpt from Charter Article II. The Legislative Body: Its Powers and Duties, Sec. 9. Meetings of council. -

Except as provided in Charter Sec. 21A., all meetings of the council or committees thereof shall be public. The council shall have the authority to appoint council committees. Such committees shall generally consist of no more than two council members and in no event shall be equal or greater than a quorum of council. Other council members may attend any council committee meeting to observe but shall not participate.

Excerpt from Charter Article II. The Legislative Body: Its Powers and Duties, Sec. 15. Powers and duties of mayor. -

The mayor shall be ex officio a member of all council committees.

Charter Approval Date: [Date] Last Revised: [Date]