(A) The Manual of Instructions for City/Village Budgets, prepared by the Auditor of Public Accounts, State Capitol, Lincoln, Nebraska 68509 is incorporated by reference for the purpose of proper budget preparation.
(Prior Code, § 1-805)
(B) The City Council shall cause an audit of the city accounts to be made by a qualified accountant as expeditiously as possible following the close of the fiscal year. The audit shall be made on a cash or accrual method at the discretion of the City Council. The audit shall be completed and the annual audit report made not later than six months after the close of the fiscal year. The accountant making die audit shall submit not less than three copies of the audit report to the City Council. All public utilities or other enterprises which substantially generate their own revenue shall be audited separately, except in villages having a population of less than 800 and the results of the audits shall appear separately tn the annual audit report and the audits shall be on an accrual basis and shall contain statements and materials which conform to generally accepted accounting principles. The audit report shall set forth the financial position and results of financial operations for each fund or group of accounts of the city as well as an opinion by the accountant with respect to the financial statements. Two copies of the annual audit report shall be filed with the City Clerk and shall become a part of the public records of the City Clerk’s office and will at all times thereafter, be open for public inspection. One copy shall be filed with the Auditor of Public Accounts; provided that, all villages may file an unaudited statement of cash receipts and disbursements annually in lieu of an annual audit. The unaudited statement shall be filed with the Auditor of Public Accounts in a form prescribed by him or her. The unaudited statement of cash receipts and disbursements shall become a part of the public records of the City Clerk and shall at all times thereafter be open and subject to public inspection. Every City Council that is required herein to submit to an audit of its accounts shall provide and file with the City Clerk, no later than August 1 of each year, financial statements showing its actual and budgeted figures for the most recently completed fiscal year.
(Prior Code, § 1-806)
Statutory reference:
Related provisions, see Neb. RS 19-2901 through 19-2909, LB 932, 1984