(A) Within six months after the end of each fiscal year, the treasurer shall prepare and file with the city clerk an account of moneys received and expenditures incurred during the preceding fiscal year as specified in this section. The treasurer shall show in the account:
(1) All moneys received by the city, indicating the total amounts, in the aggregate, received in each account of the city, with a general statement concerning the source of the receipts. In this division (A), the term "account" does not mean each individual taxpayer, householder, licensee, utility user, or other persons whose payments to the city are credited to a general account; and
(2) Except as provided in division (A)(3) below, all moneys paid out by the city where the total amount paid during the fiscal year exceeds $2,500 in the aggregate, giving the name of each person to whom moneys were paid and the total paid to each person; and
(3) All moneys paid out by the city as compensation for personal services, giving the name of each person to whom moneys were paid and the total amount paid to each person from each account except that the treasurer may elect to report the compensation for personal services of all personnel by name, listing each employee in one of the following categories:
(a) Under $25,000.00;
(b) $25,000.00 to $49,999.99;
(c) $50,000.00 to $74,999.99;
(d) $75,000.00 to $99,999.99;
(e) $100,000.00 to $124,999.99; or
(f) $125,000 and over.
(4) A summary statement of operations for all funds and account groups of the city, as excerpted from the annual financial report as filed with the appropriate state agency.
(B) Upon receipt of the account from the treasurer, the clerk shall publish the account at least once, in one or more newspapers published in the city, or, if no newspaper is published therein, then in one or more newspapers having a general circulation within the city.
(ILCS Ch. 65, Act 5, § 3.1-35-65) ('69 Code, § 2-148)