The finance committee shall generally supervise the functions of the city council in connection with legislative, judicial, general fund financial matters of the city government and the issuance of licenses and permits affecting financial matters. Without limiting the functions of the committee, it shall examine and audit reports of city officers, examine and audit all bills presented to the city for payment, have general supervision over the special assessment rolls of the city, and supervise the insurance and risk management programs. It shall also function as a liaison with other legislative bodies, with the Association of Washington Cities, and other organizations connected with governmental activities. The committee shall have supervision of maintaining the city code and shall make recommendations to the city council as to additions, amendments, or revisions of the city Charter or the city code.