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9 „ <br />Elk M <br />paMunicil Utilities <br />COMMISSION POLICY <br />Section: <br />Governance <br />Category: <br />Governance Policies <br />Policy Reference: <br />Policy Title: <br />Financial Reserves & Investment <br />G.2g2 <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 />The Committee shall be comprised of two Commissioners, the General Manager, and the <br />Finance Manager. At no time shall there be a quorum of the 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 appoint <br />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 />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 />Pagel of 2 <br />56 <br />