Number
R13733
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving the creation of a standing Finance Committee by the Board of Commissioners of the Housing Authority of the City of Milwaukee to advise, support, and review HACM financial Management
Analysis
Body
WHEREAS, the Housing Authority of the City of Milwaukee (“HACM”) is a public body, corporate and politic, duly created, organized and existing under the provisions of Wisconsin State Statutes 66.1201; and
WHEREAS, the mission of HACM as a public housing authority is to foster strong, resilient and inclusive communities by providing a continuum of high-quality housing options that support self-sufficiency, good quality of life, and the opportunity to thrive; and
WHEREAS, HACM’s Board of Commissioners (the “Board”) has oversight authority over HACM, including the finances and financial management of HACM, pursuant to Chapter 66 of the Wisconsin Statutes as well as applicable Federal law;
WHEREAS, HACM has encountered major financial challenges and mismanagement in prior years; and
WHEREAS, the Board desires to increase its oversight and understanding of HACM’s finances through the creation of a standing finance committee (the “Finance Committee”); and
WHEREAS, several Board Commissioners have offered to participate in a Finance Committee; therefore, be it
RESOLVED, that the Board establishes the Finance Committee in accordance with the terms of this resolution as a standing committee that reports to the Board until such time as the Board dissolves the Finance Committee via resolution; and be it
FURTHER RESOLVED, that the Finance Committee shall meet at least quarterly at times determined by the chairperson of the committee (“Committee Chairperson”) and shall also meet for special meetings from time to time as determined at the call of the Committee Chairperson; and be it
FURTHER RESOLVED, prior to each meeting of the Committee, the Committee Chairperson shall s...
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