(A) The Commission shall prepare an annual budget for the ensuing fiscal year, and shall submit such budget to the Mayor and the Council for their approval.
(B) All budgetary expenditures shall be authorized by the Commission which shall elect one of its members as treasurer. The treasurer shall approve operational expenditures, and he shall make a semiannual financial report to the Commission. Copies of such semiannual financial report shall be sent to the Mayor and the Council.
(Ord. 516, passed 4-23-70; Am. Ord. 669, passed 8-31-78)