The Audit Committee shall consist of three Alderpersons, three volunteer civilians and one member of the Financial Advisory Commission who have financial reporting, audit committee or auditing experience. The Alderperson members shall be appointed by the Mayor and confirmed by the City Council. The civilian members shall be appointed by the Alderpersons on the committee and confirmed by the City Council. The terms of the Alderpersons shall be identical with their terms of office. The initial terms of office for the three civilian members shall be two, three and four years respectively. Thereafter, each civilian member shall serve for a term of three years, or until the member's successor is appointed and qualified, commencing on the first day of June, the term of no more than one civilian member expiring each year. All members of the Audit Committee shall have equal voting rights, except that the Finance Director and City Manager shall be nonvoting members of the Committee. The Audit Committee shall report to the City Council.