87-015
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RESOLUTION NO. 15-87
Resolution Establishing a Financial Advisory Board
and Accepting Charter
WHEREAS, The City of Shorewood deems it appropriate to have a
Financial Advisory Board made up of citizens with
broad financial and business background; and
WHEREAS, The City Council appointed John Bridge, Dave
Lawrence, Ed Snyder and Bill Bohnhoff to be the
Board's initial members; and
WHEREAS, Such initial appointments and general discussion of
the Board took place at a regular meeting of the City
Council on November 24, 1986; and
WHEREAS, A charter to govern the Board has been presented to
the City Council for action.
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NOW, THEREFORE BE IT RESOLVED by the City Council of the City
of Shorewood, that:
1. The Shorewood Financial Advisory Board is officially
established.
2. John Bridge, Dave Lawrence, Ed Snyder and Bill
Bohnhoff shall serve as the Boards initial members.
3. The Charter dated February 23, 1987, as presented to
the City Council is hereby adopted, attached hereto
and made a part hereof.
Adopted by the City Council of the City of Shorewood this 23rd
day of February, 1987.
Robert Rascop
Mayor
ATTEST:
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Sandra L. Kennelly
City Clerk
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CITY OF SHOREWOOD
FINANCIAL ADVISORY BOARD
Charter
Section I. Purpose and Membership
The Financial Advisory Board is a small group of Shorewood citizens
consisting of not more than five nor less than three members selec-
ted at-large with broad financial and business backgrounds. The
members shall be appointed for one-year terms by the City Council
to provide advice and counsel from a financial perspective to the
city government on issues with significant financial impact. Also,
the City Council shall annually appoint one Council member to the
Board to act as Liaison.
Section II. Responsibilities
The Financial Advisory Board will participate in reviews of the
annual budget for the City of Shorewood as it is being prepared each
year, providing an external but informed viewpoint and any specific
recommendations it may have to the City Administrator and the City
Council in the budget development and finalization process.
Additionally, the Financial Advisory Board will provide advice and
counsel to the city government as requested on issues arising through-
out the year which have significant financial impact (greater than
$5,000) on the City and for which there may be various alternative
approaches which can be considered and evaluated. Board members are
also encouraged to maintain familiarity with major financial issues
facing the City and offer input where they feel it might be helpful.
The Financial Advisory Board will meet as needed to deal with speci-
fic issues, and will be kept informed as to areas needing its atten-
tion by the City Council member appointed as liaison to the Board.
The Board will elect a chairperson who will be responsible for calling
Board meetings and maintaining regular contact with the Council
through the Council liaison.
Board members will receive minutes and agendas of City Council
meetings, copies of the monthly financial reports provided to the
Council, drafts of the annual budget as it is being prepared and
finalized, copies of the Annual Audit Report and any other relevant
information needed to render sound judgements and informed recommendations.