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A. By no later than December 31st of each year after the operative date, the City’s independent auditors shall complete a report reviewing the collection, management and expenditure of revenue from the tax authorized by this chapter. The auditors’ report shall be a public document.

B. There shall be a committee consisting of no fewer than five (5) members of the public to review and report on the receipt of revenue and expenditure of funds from the tax authorized by this chapter. The committee members shall be either Larkspur residents or representatives of Larkspur businesses. The auditors’ annual report required by subsection (A) of this section shall be provided to the committee. By March 31st of each year, the committee shall review the auditors’ report, evaluate the projects and services provided with revenue from the tax, and make recommendations to the City Council regarding priorities for expenditures of revenue from the tax authorized by this chapter for the following budget year. The City Council shall consider the committee’s recommendations as part of its budget deliberations.

C. The City Council shall by resolution establish the composition of the committee required by subsection (B) of this section, setting the terms of office of the committee members, and defining the scope of the committee’s responsibilities, which at a minimum shall include reviewing the annual auditor’s report and making recommendations to the City Council for use of revenue from the tax authorized by this chapter. The City Council shall maintain a quorum of appointed committee members while the tax approved by this chapter is in effect. Appointment of committee members and filling vacancies shall be governed by the resolution establishing the composition and rules of operation of the committee.

D. In the event that the City Council authorizes the incurrence of debt to accelerate infrastructure projects, the committee shall additionally review the expenditure of funds for consistency with the purposes of the debt and make recommendations regarding the use thereof. The auditor shall include expenditure of proceeds of the debt in its annual report.

E. The oversight committee is hereby authorized as part of an annual report to recommend that the City Council submit a measure to Larkspur voters to confirm whether to continue the tax. (Ord. 1030 § 2(3), 2018; Ord. 1022 § 2, 2017; Ord. 1019 § 2, 2017; Ord. 993 § 2, 2013)