Salem City Council Finance Committee

Overview

The Salem City Council Finance Committee, also known simply as the Finance Committee, is a standing committee of the City Council whose purpose is to advise the City Council and City Manager on financial policy, planning, and management issues.

The Finance Committee shall be composed of three sitting City Councilors and the Mayor. The terms of the City Council members shall be staggered, with two members being appointed in even-numbered years and one member being appointed each odd-numbered year.

Matters to be considered

The following matters shall be referred to the Finance Committee without further action by the City Council as a whole or the City Manager, for its review and recommendation:

1. The annual financial audit, management letter, and City Manager’s response.
2. Financial policies recommended by the City Manager or the City Council for adoption.
3. Revenue and expediture assumptions contained in the Five-Year Financial Forecast.

The Finance Committee may provide advice and provide recommendations to the City Council as a whole or to the City Manager on the following matters:

1. Integration of the Council Goals with the City’s financial plan.
2. Development of and updates to a long-range financial strategy to ensure the provision of sustainable community services.
3. Any other matter concerning the City’s financial planning referred by the City Council as a whole or by the City Manager.