Charter §6B-1. There shall be a Finance and Audit Review Commission, which shall have authority to examine into matters relating to the financial and budgetary efficiency, efficacy and condition of the City. Said Commission shall consist of seven (7) electors of the City appointed by the Mayor, subject to the advice and consent of a majority of the members of the Board of Aldermen. The Commission shall choose a chair and such other officers as it may desire. Commencing on January 1, 2003, the Mayor shall appoint four (4) members for a term of four (4) years and three (3) members for a term of two (2) years. Following the term of two (2) years, the Mayor, on or after January 1, 2005, shall appoint three (3) members to a term of four (4) years. The members of the Commission shall have professional or business experience in the fields of accounting, management, or financial analysis as evidenced by being a certified public accountant, certified management accountant or having earned a master or doctorate degree in business, finance or public administration or the equivalent thereof; or at least five years’ experience as a financial officer of a business or public administrator or such other qualifications as may be further defined by ordinance. Notwithstanding the provisions of this Charter, no more than three members of the Commission shall be members of the same political party. Furthermore, no person who has served in the previous three years as a public official, other than a member of this Commission, or a political party officer shall be appointed to membership on this Commission.

The Commission shall meet on the First and Third Tuesday of the month at 6:00 p.m.