No permit shall be granted to any applicant unless the person involved demonstrates to the satisfaction of the Mayor and Council that a proper system of accounting is maintained whereby all receipts and disbursements of any kind are entered upon the books or records of the treasurer or other financial officer of such person, and that all proceeds from the solicitation will be kept in a separate bank account and not commingled with other funds. The Mayor and Council may require from a permittee any report or information at any time and at such intervals as, in the discretion of the Mayor and Council, are necessary for the successful administration of this chapter and the protection of the health, life and property of the residents of the City. Any person issued a permit under this chapter shall furnish to the Mayor and Council, within the period determined by the Mayor and Council after the expiration of the initial period and each renewal period, if any, a detailed report and financial statement showing the amount raised by the solicitation, the amount expended in collecting such funds, including a detailed report of the wages, fees, commissions and expenses paid to any person in connection with such solicitation, and the disposition of the balance of the funds collected by the solicitation.
(1979 Code Sec. 5.58.070)