HomeMy WebLinkAboutResolution - 2006-R0091 - Amend Resolution 2003-R0220 - Allow Audit Committee To Have Unlimited Terms - 02_24_2006Resolution No. 2006-R0091
February 24, 2006
Item No. 6.3
RESOLUTION
WHEREAS, by Resolution No. 2003-RO220 dated June 12, 2003 (the
"Resolution"), the City Council established an Audit Committee of the City of Lubbock;
and
WHEREAS, the City Council desires to amend the Resolution to provide for the
Audit Committee members to have unlimited terms; NOW THEREFORE:
IBE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
I . THAT Resolution No. 2003-RO220 is amended by deleting section 2
thereof in its entirety and substituting the following:
SECTION 2. The Audit Committee shall consist of six (6)
members, who may serve for a term of two (2) years. All Committee
members shall serve at the pleasure of, and may be removed by, the City
Council of the City of Lubbock. There shall be no limit upon the number
of terms, including successive terms, that a Committee member may
serve. The chairperson shall be appointed by the Mayor. Each member of
the Audit Committee shall meet the Independence Standards in the
Government Auditing Standards set forth by the U.S. Comptroller
General, who heads the U.S. General Accounting Office. At least one (1)
member shall be selected by the membership of the Lubbock Power and
Light's Electric Utility Board. In addition, at least two (2) members of the
Audit Committee shall have a background in financial reporting,
accounting, or auditing, and at least one (1) member shall be a certified
public accountant. However, the lack of any such specific member shall
not invalidate or otherwise affect the actions taken by the Audit
Committee. The Audit Committee shall report directly to the City Council
and no member shall be a City official, employee or former City official or
employee, except that the member may be a former or current member of
the Lubbock Power and Light's Electric Utility Board.
2. Except as expressly amended hereby, Resolution No. 2003-RO220 shall
remain as originally provided.
Passed by the City Council this 24th day of February 2006.
W164
ARC Mc UGAL, MAYOR
ATTEST:
Reb ca Garza, City Secretary
APPROVED AS TO CONTENT:
R becca Garza, City Secretar
APPROVED AS TO FORM:
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ccdocs/AuditComRes-amendmen t
February 13, 2006