Each City Councilor shall receive twenty dollars ($20.00) per meeting up to a maximum of five hundred dollars ($500.00) in total remuneration per year, paid quarterly unless otherwise directed by the City Council. The Mayor shall receive an additional one hundred twenty-five dollars ($125.00) per year. City Councilors may be reimbursed for necessary expenses actually incurred by them on City business. Such reimbursement must be approved by the City Council. Travel expenses should be submitted for City Council approval in advance.