Accounts shall be kept by the Department of Finance showing the financial transactions of all departments and offices of the City. The form of all such accounts and the financial reports rendered to or by the Department of Finance, shall be described by the Director of Finance. The accounts and the accounting procedure of the City shall be adequate to record all cash receipts and disbursements, all revenues accrued and liabilities incurred, and all transactions affecting the acquisition, custody and disposition of values and for making such reports of the financial transactions and conditions of the City as may be required by law or ordinance.
(Effective November 9, 1931)