(1) The commission shall submit an annual report as of July 1 of each year to the mayor and council, which report shall contain a summary of its activities for the preceding year, a physical inventory of all property, and audit of all receipts, expenditures and funds on hand.
(2) The commission shall prepare, annually, a budget for the ensuing fiscal year and submit by the date specified the same to the mayor and council for their approval.
(Ord. No. 190-83, § 1, 10-6-83)