Council shall cause to be maintained and kept proper books of record and account, in which books shall be made full and correct entries of all transactions relating to the Downriver Sewage Disposal System. Not later than two months after the close of each fiscal year, Council shall cause to be prepared a statement, in reasonable detail, showing the cash income and disbursements of the System at the beginning and close of the operating year and such other information as may be necessary to enable any taxpayer of the City or user or beneficiary of the service furnished to be fully informed as to all matters pertaining to the financial operation of the System during such year. Such annual statement shall be filed in the office of the City Clerk, where it shall be open to public inspection. Such books of record and account shall be audited annually by a certified public accountant, to be designated by Council, and a certified copy of such audit shall be filed with the City Clerk.
(1974 Code Sec. 2.118)