The Treasurer of the Board shall have custody of all money and property received by the Board of Managers and shall pay out the same only upon the written order of the Board, signed by the President and the Clerk thereof, and he or she shall keep permanent books of record of all such trust funds and all receipts and disbursements thereof, and for what purposes received and disbursed, and shall annually make a report in writing to the Board of Managers, under oath, showing balances, receipts and disbursements, including a statement showing the amount and principal of trust funds on hand and how invested, which report shall be audited by the Board and, if found correct, shall be transmitted to the City Council at the same time that the Treasurer of the city is required to make his or her report and shall be approved and preserved in the same manner, if found to be correct.
(2000 Code, § 92.19) (Ord. 859, passed 1-11-1977)