Audit and Finance Advisory Committee

Meetings
The Audit and Finance Advisory Committee meets at 4:00 pm in the Second Floor Conference Room of City Hall. Find agendas and minutes online here

Meeting Dates for 2020:
January 16, 2020
February 20, 2020
March 19, 2020
April 16, 2020
May 21, 2020
June 18, 2020
July 20, 2020
August 20, 2020
September 17, 2020
October 15, 2020
November 19, 2020
December 17, 2020

Composition
The Audit and Finance Advisory Committee shall consist of up to seven members. There shall be four citizen members. The mayor may appoint himself and up to two other council members to serve on the Committee. Citizen members must either be residents of the City of McAlester or their place of employment must be located within the City of McAlester. Elected officials of the City of McAlester and employees of the City of McAlester are ineligible for citizen membership.

All of the citizen members of the committee shall be financially literate and at least one citizen member shall be a financial expert. Financial literacy is the ability to understand fundamental financial information and statements. A financial expert is someone who has an understanding of generally accepted accounting principles and financial statements, experience in applying such principles, experience in preparing, auditing, analyzing or evaluating financial information, experience with internal controls and procedures for financial reporting, or an understanding of the audit committee function.

Purpose
The Audit and Finance Advisory Committee shall advise the City Council in finance matters of the city by analyzing and evaluating financial information, internal controls, procedures, and financial reporting.

The board was established by council August 26, 2008, Ord. No. 2298.