The City Treasurer shall settle and account with Council, quarterly, and also when Council may, by resolution or ordinance, require. At the first regular meeting thereof in January each year, he shall report to Council the condition of the finances of the City, the amount received by him, the sources whence received, the disbursements by him made, and on what account, during the year proceeding. Such account shall exhibit also the balance due on each fund which may have come into his hands during the year.
(ORC 733.45)