OCIDA Finance Committee Charter

FINANCE COMMITTEE CHARTER
This Finance Committee Charter was adopted by the Members of the Onondaga County
Industrial Development Agency, a public benefit corporation established under the laws of the
State of New York, on this 11th day of February 2010.
Purpose
Pursuant to Article VI, Section 3 of the Agency’s bylaws, the purpose of the finance committee
shall be to (1) review proposals for the issuance of debt by the Agency; and (2) provide
recommendations to the Agency regarding the issuance of debt.
Powers of the Finance Committee
It shall be the responsibility of the Finance Committee to:
   Review proposals for the issuance of debt for the Agency and make recommendations to the
    Agency regarding the issuance of such debt.
   Seek any information it requires from the Agency and project applicants regarding the
    proposals for the issuance of debt
   Retain and consult with, at the Agency’s expense, such outside counsel, experts and other
    advisors as the Finance Committee may deem appropriate.
Composition of Committee and Selection of Members
The Finance Committee is established as set forth in and pursuant to Article VI, Section 3 of the
Agency’s bylaws. The Finance Committee shall be comprised of a minimum of three
independent members. The Agency’s Chair will appoint the Finance Committee members and
the Finance Committee Chair.

Finance Committee members shall be prohibited from being an employee of the Agency or an
immediate family member of an employee of the Agency. In addition, Finance Committee
members shall not engage in any private business transactions with the Agency or receive
compensation from any private entity that has material business relationships with the Agency,
or be an immediate family member of an individual that engages in private business
transactions with the Agency or receives compensation from an entity that has material
business relationships with the Agency.
The members of the Finance Committee shall possess the necessary skills to understand the
duties and functions of the Finance Committee. Including an understanding of the types of debt
issued by the Agency.
Finance Committee Charter                                                                    5‐C.1
Adopted February 11, 2010
Meetings
The Finance Committee will meet a minimum of twice a year, with the expectation that
additional meetings may be required to adequately fulfill all the obligations and duties outlined
in the charter.
Members of the Finance Committee are expected to attend each committee meeting, in person
or via videoconference. The Finance Committee may invite other individuals, such as members
of management, financers or other technical experts to attend meetings and provide pertinent
information, as necessary.

Meeting agendas will be prepared for every meeting and provided to the Finance Committee
members along with briefing materials before the scheduled Finance Committee meeting. The
Finance Committee will act only on the affirmative vote of a majority of the members at a
meeting or by the consent of a majority of the members. Minutes of these meetings will be
recorded.
Responsibilities
The Finance Committee shall have responsibilities related to the issuance of debt by the Agency.
The Finance Committee shall:
   Present annually to the Agency’s members a written report of how it has discharged its
    duties and met its responsibilities as outlined in the charter.
   Obtain any information and training needed to enhance the Committee members’
    understanding of the issuance of debt by the Agency
   Review the Committee’s charter annually, reassess its adequacy, and recommend any
    proposed changes to the Members of the Agency. The Finance Committee charter will be
    updated as applicable laws, regulations and standards change.
   Conduct an annual self‐evaluation of its performance, including its effectiveness and
    compliance with the charter and request member approval for proposed changes.
Finance Committee Charter                                                                    5‐C.2
Adopted February 11, 2010