(A) Within 15 days after the expiration of each fiscal year of the city, the Board of Directors shall make a report on the condition of their trust on the last day of the fiscal year, to the City Council. This report shall be made in writing and shall be verified under oath by the Secretary or some other responsible Officer of the Board of Directors. It shall contain:
(1) An itemized statement of the various sums of money received from the Library Fund and from other sources;
(2) An itemized statement of the objects and purposes for which those sums of money have been expended;
(3) A statement of the real and personal property acquired by devise, bequest, purchase, gift or otherwise;
(4) A statement of the number of books and periodicals available for use, and the number and character thereof circulated;
(5) A statement of the character of any extensions of library service which have been undertaken;
(6) A statement of the financial requirements of the library for the ensuing fiscal year, and the amount of money which in the judgement of the Board of Directors, it will be necessary to levy for library purposes in the next annual tax levy ordinance; and
(7) Other statistics, information and suggestions that may be of interest.
(B) A report shall also be filed, at the same time, with the Illinois State Library.
(2000 Code, § 32.052)