The Economic Committee:1. Drafts the Municipal budget.
2. Monitors the implementation of the budget and submits a quarterly report to the City Council, in which the balance of revenue and expenditure of the municipality is declared,
3. Approves the annual economic stocktaking,
4. Decides on the authorization of expenditure and the availability of budgetary appropriations, except for those decided by the City Council, and also provides a reasoning decision for cases of direct procurement of services, studies and works in cases of extreme emergency.
5. With the exemptions of the above paragraph, the Committee drafts the conditions, the invitation to tender, conducts and awards all auctions in accordance with legislation. For conducting the auction and evaluating the tenders it has the right to establish committees consisting of its members, municipal or public officials or scientists.
6. Evaluates the need to obtain loans, establishes their terms and makes a recommendation to the City Council.
7. Makes recommendations to the City Council for charges, fees and contributions.
8. Decides whether to accept inheritances, bequests and donations,
9. Recommends to the City Council an annual management plan and exploitation of municipal property. It monitors the implementation of that plan and reports accordingly to the City Council.
10.Decides on transparency and electronic governance issues.
11. Recommends to the City Council the draft regulatory municipal decisions and monitors their implementation,
12. Decides on submitting appeals to the legal authorities,
13. Decides on pursuing all remedies and amendments.
14. Decides on judicial settlements and submits proposals to the City Council regarding court settlements or the annulment of the legal process for cases that the economic claim is up to the amount of thirty thousand (30,000) euro.
15. Decides the recruitment of attorneys and the revoking of their authorization in case of absence of a hired lawyer, with monthly salaries, or in case the hired lawyer has no right to be present in Supreme Courts.
Administration, Finance & Economics