4.1 ERMUSR 02-14-2017 - Laserfiche WebLink

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DRAFT POLICY (2-14-17) ELK RIVER MUNICIPAL UTILITIES - COMMISSION POLICY Category: GOVERNANCE Title: FINANCIAL RESERVES & INVESTMENT G2 COMMITTEE CHARTER Page 1 of 2 Date of Adoption: Policy Reference: G.2h.2 Purpose: The Financial Reserves & Investment Committee exists to help the Commission develop and maintain industry appropriate financial reserves and investment policies. Membership: The Committee shall be comprised of two Commission delegated representatives, the General Manager, and the Finance & Office Manager. At no time shall there be a quorum of the Commission on the Committee. The Commission shall appoint Committee members annually following the Commission election of officers during the March Regular Commission meeting. The Commission shall also make an annual appoint the Committee Chair at that time. Role of the Committee Chair: The primary role of the Committee Chair is to run the Committee meetings. The Committee will adhere to the Current edition of Robert's Rules of Order Newly Revised for all situations to which they are applicable and are not inconsistent with ERMU's bylaws, policies, and any special rules of order that the Commission may adopt. The Committee meetings may be open or closed to employees at the discretion of the Committee Chair. Authority: Except as established in this Committee Charter, the authority of the Committee is limited to purpose of research and recommendation to the Commission. The Committee, at the discretion and through formal action of the Commission, may be empowered beyond the role of research and recommendation such that it is consistent with the Organizational Core Purpose policies and the Commission Committees policy. Specific duties: 1. At the request of the Commission, research and analyze topics related to financial reserves and investments. Elk River Municipal Utilities 111