(A) (1) The Finance Executive shall conduct a thorough and continuous internal audit of all receipts, payments assets and liabilities of all funds handled by the City, or by any agency thereof, in order to protect the City from loss through accident, negligence, or dishonesty.
(2) Said Finance Executive shall audit all reports of officers handling any City monies and submit same to the City Manager, together with any obligations he has thereto.
(3) (a) It shall be his responsibility to see that all amounts legally due the City are correctly computed, collected in full and deposited in the Treasury to the credit of the proper fund and account.
(b) He shall verify the daily cash transactions and certify to the correctness of the daily cash report.
(B) The Finance Executive shall, when so ordered by the City Manager, and may upon his own initiative, make special audits and investigations into the finances of any department of the City Government. At the close of each fiscal year the Council shall cause an audit to be made of the City accounts by duly qualified public accountants.
(Prior Code, Art. 1, § 1.5(t))