A.   There shall be such annual or other accounting for all monies of the City as required by statute.
   B.   If there is no such statute, an independent audit shall be made of all accounts of the City government at the close of each fiscal year, and shall be completed within ninety (90) days thereafter.
   C.   Special independent audits may be made at any time the City Council designates.
   D.   Each audit and reports supplemental thereto shall be made public in the manner determined by the City Council and copies of the audit shall be placed in the office of the City Clerk.
   E.   All City financial records, accountings and audits and other reports shall be public records, available for inspection. A statement of all revenues and expenditures of public monies shall be published and distributed as required by State law.
(Adopted by the electorate, 11-5-1974)