(a) The Clerk-Treasurer is required to provide a monthly financial statement of all fund balances and the unencumbered account balances of each fund.
(b) Such monthly financial statement is necessary in order for the Mayor, Council and Board of Public Affairs to exercise fiscal responsibility over the fund balances and the amounts available for expenditure from each individual account contained in each separate fund.
(Res. 3-73-D. Passed 3-20-73.)