The Department of Finance shall prepare and present to the City Manager the following reports in sufficient detail to show the exact financial condition of the city:
(A) Quarterly, or more frequently as the City Manager may direct, a statement of all receipts, disbursements and balances of the city;
(B) An annual statement of report on the financial condition of the city;
(C) Such other financial reports as may be required by the City Council or the City Manager.
(`83 Code, § 2.28.060)