The Board of Library Directors shall make a report of the financial condition of the library within 15 days after the termination of the fiscal year of the village. This report shall be filed with the Board of Trustees and shall be made in the manner provided by statute. A copy of this report shall be filed with the state library at the same time. The Board of Library Directors shall also make such reports as may be requested from time to time by the Board of Trustees.
(`95 Code, § 32.34)