Separate accounts, distinct from other city accounts, shall be kept for each public utility owned or operated by the City in such manner as to show the true and complete financial results of such City ownership or operation, or both, including all assets, liabilities, revenues and expenses. They shall show as nearly as possible, the value of any service furnished to, or rendered by, any such public utility by or to any other city department. The Council shall annually cause a report to be made showing the financial results of such City ownership or operation, or both, which report shall give for each utility the information specified in this section, and such further information as the Council shall deem expedient. Such report shall be on file in the office of the Clerk for public inspection.