The City Treasurer shall make monthly reports to Council showing the state of the finances of the City; the money, with the amounts itemized, received during the current month; and the money spent or paid out during the current month. Such reports shall be filed with the City Clerk and read by him or her to Council. The City Treasurer shall also make an annual report to Council, within ten days prior to the first Monday in May of each year, showing a complete itemized stated account of all money received and paid out by him or her during the current year, together with all transactions pertaining to his or her office for that year. Other reports on the status of the finances of the City shall be made from time to time when required by Council.
(1942 Code Chap. IV, Sec. 7)