"Audit" means an audit as a separate report from other funds, in accordance with General Services Administration Policy Circular, FMC73-2, and shall cover the following: (1) Financial reports are presented fairly; (2) financial operations are properly conducted; (3) applicable laws and regulations have been complied with; (4) resources are managed and used in an economical and efficient manner, and; (5) desired results and objectives are being achieved in a financially effective manner.
(Ord. 92-14, 1991; Ord. 80-19 Art. I § 3, 1979)