The Financial Advisory Board conducts a review of the proposed annual budget and long-term financial plan for the City to assist the City Council in making decisions on major expenditures and revenue sources. Develops a long-term financial plan for the City, conducts an annual review of the City's investment policies and gives consideration to the managing of the City's financial reserves to assure maximum returns on approved investments. Reviews the annual audit and management letter and provides the City Council with recommended changes in financial practices. Reviews and makes recommendations on all proposed bonds or other debt instruments to be issued by the City.