The Treasurer shall settle and account with the Council, quarterly, and at any other time which it by resolution or ordinance requires. At the first regular meeting of the Council in January of each year, the Treasurer shall report to it the condition of the finances of the village, the amount received by him, the sources of the receipts, the disbursements made by him, and on what account, during the year preceding. This account shall exhibit the balance due on each fund which has come into the Treasurer's hands during the year.
(R.C. § 733.45) ('81 Code § 31.33)