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Elk River <br /> Municipal Utilities COMMISSION POLICY <br /> Section: Category: <br /> Governance Governance Policies <br /> Policy Reference: Policy Title: <br /> G.2gh2 Financial Reserves & Investment <br /> Committee Charter <br /> PURPOSE: <br /> The Financial Reserves & Investment Committee exists to help the Commission develop and <br /> maintain industry appropriate financial reserves and investment policies. <br /> MEMBERSHIP: <br /> I The Committee shall be comprised of two Commissioners delegated representatives, the General <br /> Manager, and the Finance & Office Manager. At no time shall there be a quorum of the <br /> Commission on the Committee. <br /> The Commission shall appoint Committee members annually following the Commission election <br /> of officers during the March Regular Commission meeting. The Commission shall also make an <br /> annual appoint the Committee Chair at that time. <br /> ROLE OF THE COMMITTEE CHAIR: <br /> The primary role of the Committee Chair is to run the Committee meetings. The Committee will <br /> adhere to the Current edition of Robert's Rules of Order Newly Revised for all situations to <br /> which they are applicable and are not inconsistent with ERMU's bylaws, policies, and any <br /> special rules of order that the Commission may adopt. The Committee meetings may be open or <br /> closed to employees at the discretion of the Committee Chair. <br /> AUTHORITY: <br /> I Except as established in this Committee Charter, the authority of the Committee is limited to the <br /> purpose of research and recommendation to the Commission. The Committee, at the discretion <br /> and through formal action of the Commission, may be empowered beyond the role of research <br /> and recommendation such that it is consistent with the Organizational Core Purpose policies <br /> and the Commission Committees policy. <br /> Page 1 of 2 <br /> 77 <br />