The board of directors shall make, on or before the second Monday in June, an annual report to the city council, stating the condition of their trusts on June 1 of that year, the various sums of money received for the Frances Comer perpetual library fund and how much money has been expended from the Frances Comer perpetual library fund and for what purpose. All such portions of the report as related to the receipt and expenditure of money shall be verified by affidavit. (1984 Code § 2.76.070; amd. 2015 Code)