Independent Rates Oversight Committee
The Committee shall:
(1) Meet at least every other month with additional meetings convened as necessary and as determined by the Committee Chair, and set an attendance policy for Committee members to help ensure a quorum of members are present for all meetings.
(2) Review reports from staff and an independent audit organization on rate and bond proceed expenditures.
(3) Review independent performance audits on Water and Wastewater systems.
(4) Provide advice on the efficiency and performance of Water and Wastewater systems on a regular basis.
(5) Provide advice on future cost allocation models.
(6) Oversee departmental savings efforts and deposits to the “Dedicated Reserve from Efficiency and Savings (DRES)” fund to be established as another part of the safeguard plan.
(7) Assist in the selection and retention of the independent firm to conduct the annual financial audit of the utility departments’ budget activity.
(8) Assist in the selection and retention of the independent firm to conduct the annual performance audit to be set for each utility department.
(9) Provide an annual public report on the above issues to the Mayor and City Council.
(10) Provide advice and review of policy and proposals as sought by department leaders and other City staff related to budget and finance, environmental issues, technology innovations, public outreach and education efforts.
(11) Perform such further duties as may hereafter be delegated to the Committee by resolution of the City Council.
Any duties or functions of the Independent Rates Oversight Committee that fall within the oversight responsibilities of the Audit Committee should be fully coordinated with and reported to the Audit Committee.
The members shall be appointed by the Mayor and confirmed by the City Council.
The expiration date of all terms shall be May 1. Initial members shall be appointed such that the terms of not more than six members shall expire in any one year so as to allow the Committee to be staggered. For the initial appointments, five members shall be appointed to an initial term that will expire May 1, 2009, and six members shall be appointed to an initial term that will expire May 1, 2011. Initial appointments which are less than the full term of four years will be allowed to serve two full terms.
Each of the four ratepayer classes (single family residential, multifamily residential, commercial and industrial, and temporary irrigation and construction) will have one representative on the Committee. The Committee shall also include two ex-officio members, one representing and appointed by the Metropolitan Wastewater Joint Powers Authority, and one representing and appointed by the ten-member City representatives to the San Diego County Water Authority. A majority of the members of the committee shall possess expertise in one or more of the following areas: accounting, auditing, engineering, biology or environmental science, finance or municipal finance, law, and construction management.