Tennessee § 5-21-104 - Financial management committee — General provisions.

§ 5-21-104. Financial management committee — General provisions.

A county financial management committee is hereby created. The committee shall consist of the county mayor, supervisor of highways, director of schools, and four (4) members elected by the county legislative body at its regular September session of each year or at any subsequent session. The four (4) members elected by the county legislative body need not be members of such body. Such committee shall elect its own chair and shall meet from time to time as it may deem necessary for the discharge of its duties as provided in this section. The director shall be the ex officio secretary of such committee. The committee shall establish and approve policies, procedures and regulations in addition to the specific provisions of this chapter, for implementing a sound and efficient financial system for administering the funds of the county. Such system shall include budgeting, accounting, purchasing, payroll, cash management and such other financial matters necessary to an efficient system. Acts 1981, ch. 325, § 4; 2003, ch. 90, § 2. Compiler's Notes. Acts 2003, ch. 90, § 2, directed the code commission to change all references from “county executive” to “county mayor” and to include all such changes in supplements and replacement volumes for the Tennessee Code Annotated. Cross-References. Option to redesignate county mayor as county executive by private act, § 5-6-101 . Attorney General Opinions. County Financial Management System of 1981: Duties of county trustee, OAG 92-73, 1992 Tenn. AG LEXIS 71 (12/29/92). Authority of county executive [now county mayor] over county finance office, OAG 99-032, 1999 Tenn. AG LEXIS 19 (2/18/99). Tenure of county financial management committee, OAG 03-064, 2003 Tenn. AG LEXIS 80 (5/14/03). Under T.C.A. § 12-4-101(b) , a member of the county financial management committee must disclose his or her indirect interest when voting on contracts that affect his or her spouse's employment contract with the county, especially such matters as the spouse's compensation, but the statute does not require abstention, OAG 05-017, 2005 Tenn. AG LEXIS 17 (2/03/05). T.C.A. § 5-21-121 would not prohibit a member of the county financial management committee from being interested in the employment contract between his or her spouse and the county, but since the statute does not define the term, “personal beneficial interest,” therefore, a member could have a prohibited conflict of interest in a purchase of supplies, materials, or equipment for the finance department where his or her spouse is employed, OAG 05-017, 2005 Tenn. AG LEXIS 17 (2/03/05).