It shall be the duty of this committee to make a thorough study of all departments of county government relative to budget requirements. This committee shall establish and approve policies, forms and documents, procedures and regulations necessary for the annual operating and capital improvements budgets (TCA 5-21-105 (d)). This committee shall perform all duties respecting county budgets and appropriations. This committee will hold public hearings, as required by law, before the adoption of the county budget. It will receive recommendations on finance from all other committees. It will recommend to the entire Commission the tax rate and overall budget (See Commission Minutes dated July 17, 1961, Minute Book #8 and Commission Meeting Minutes dated April 17, 1967 Minute Book #9). It will recommend the expenditures of the county funds not otherwise provided for (TCA 5-12-104). The committee shall work with the Committee Chairperson and the County Mayor to prepare and present insurance contracts to the County Commission for approval. This committee shall meet, at least quarterly, with representatives of the providing insurance company, and be provided with reports of work related insurance claims and unusually high insurance usage (TCA 5-21-105). The committee is composed of nine members, one from each district, elected in accordance with Rule 17.1.