Meeting TimeThe Committee meets the first Tuesday of the Month at 7:00 PM in Administration Building located at 45 Keeley Avenue. |
Committee MembersCouncil Liaison: Robyne Kelemen and John Wolff |
Agendas and Minutes |
The purpose of the Financial Advisory Committee is to advise Borough Council on matters relating to the finances of the Borough. Upon request by Council, the Financial Advisory Committee may engage in some or all of the following:
- Oversee accounting and financial reporting requirements, and make recommendations to Borough Council to ensure the Borough is complying with all accounting and financial reporting requirements
- Review the annual audit report, and provide a summary of the annual audit report to Borough Council, including, but not limited to, any discrepancies identified in the audit report and any surcharges, recommended by the auditor or otherwise, that are imposed in the audit report or should have been imposed in the audit report
- Prepare and present an annual analysis of the boroughs financial performance
- Prepare and present annual, three year, five year, and 7 year financial forecasts
- Prepare and review a strategic financial plan for the Borough
- Investigate and analyze methods of expanding the Borough’s tax base
- Investigate and analyze alternative sources of funding, including borough fees, loans, debt financing, grants, and other funding sources other than revenues raised through millage
- Perform other functions relating to the Borough’s finances as directed by Borough Council
