BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Chapter 14, Title 9 of the Delaware Code by making deletions as shown by strike through and insertions as shown by underline as follows:
§ 1404. Annual audits and the audit committee.
At the beginning of each calendar year, the The County Council shall establish , or reconstitute as the facts and circumstances warrant, and appoint all members to, an Audit Committee which shall:
Consist of 5 members all of whom possess the technical skills necessary to oversee the technical and complex financial reporting and audit process. Consist of 5 members all of whom possess the technical skills necessary to oversee the technical and complex financial reporting and audit process, and such members of the Committee will be appointed by County Council each for a term of 4 years, except that the terms of any reconstituted committee shall initially be established in a staggered manner so that one term expires after 2 years, 2 terms expire after 3 years, and 2 terms expire after 4 years. Appointment of members thereafter shall each be for a full four year term. When a vacancy occurs, the vacancy shall be filled for the balance of the unexpired term.
Approved June 1, 2017