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At the beginning of each quarterly period during the fiscal year, and more often if required by the Council, the Village Manager shall submit to the Council data showing the relation between the estimated and actual income and expenses to date; and if it shall appear that the income is less than anticipated, the Council may reduce appropriations, except amounts required for debt and interest charges to such a degree as may be necessary to keep expenditures within the cash income.
(Adopted 3-13-67)
The Council shall designate the depository or depositories for village funds, and shall provide for the regular deposit of all village moneys. The Council shall provide for such security for village deposits as is authorized or permitted by the general laws of the state, except that personal surety bonds shall not be deemed proper security.
(Adopted 3-13-67)
An independent audit shall be made of all accounts of the village government at least annually and more frequently if deemed necessary by the Council. Such audit shall be made by public accountants experienced in municipal accounting. The results of such audit shall be made public by publishing in condensed form in some legal newspaper of general circulation in the village.
(Adopted 3-13-67)