(A)   All revenues shall be turned over to the City Administrator, deposited in the municipal treasury credited to the Library Fund and budget, kept separate from other monies of the city and paid out only upon itemized vouchers approved by the Library Board. All memorials and donations of whatever kind and nature, however, given to the library shall be held separate from the budget monies, deposited by the City Administrator into the Library Fund and utilized for those purposes as expressed by the donor or as determined by the Library Board. The monies in the Library Fund will be carried over from year to year.
   (B)   At each monthly Board meeting, the Library Director shall prepare and present an itemized listing of all outstanding library bills. Upon approval by the Board for payment, the City Administrator shall issue drafts in payment of same within five working days of receipt of the authorization.
   (C)   The City Administrator shall post each item of expenditure onto the budget under the appropriate line item, and thereby keep a current record of the status of expenditures under the budget as the fiscal year progresses.
(Prior Code, § 2.42, Subd. 4)