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Duties of the Audit Review Committee shall include the following:

(1) Recommend to the Council an independent firm of certified public accountants to perform the annual audit of the City

(2) Analyze and report to the Council significant findings in the annual audit report and make recommendations regarding such findings

(3) Make recommendations, if any, to the Council regarding the following financial documents:

a. Annual financial statements,

b. Management letter submitted by the independent auditor, and

c. Response to management letter submitted by city staff

(4) Perform such other related duties and the City Manager may direct.