Sec. 8.1 Custody of city money. - All moneys received by the city for or in connection with the business of the city government shall be paid promptly into the city depositories. Such institutions shall be designated by the city council in accordance with such regulations and subject to such requirements as to security for deposits and interest thereon as may be established by the General Statutes of North Carolina. All interest on moneys belonging to the city shall accrue to the benefit of the city. All moneys belonging to the city shall be disbursed only in accordance with the provisions of the Local Government Budget and Fiscal Control Act.
(Amended by Senate Bill 1497, passed 6-4-90)
Sec. 8.2 Independent audit. - As soon as practicable after the close of each fiscal year, an independent audit shall be made of all books and accounts of the city government by a certified public accountant or a qualified public accountant registered under chapter 93 of the General Statutes of North Carolina, who shall have no personal interest directly or indirectly in the affairs of the city or of any of its officers. The city council shall select the public accountant, and the results of such audit shall be made available for inspection by an interested citizen of the city, and may be published if so ordered by the city council.