§ 2-5. Independent annual audit.

The council shall provide for an independent annual audit of all financial records and transactions of the city and any agency funded in whole by city funds and may provide for more frequent audits as it deems necessary. Special audits may be provided for any agency receiving city funds as the city deems necessary. Such audits shall be made by a certified public accountant or public accountant or firm of such accountants who have no personal interest, direct or indirect, in the fiscal affairs of the city or any of its officers. The council may, without requiring competitive bids, designate such accountant or firm annually or for a period not exceeding four years, provided that the designation for any particular fiscal year shall be made no later than 30 days after the beginning of such fiscal year. The report of the audit shall be made available for public inspection. The council may in its discretion accept independent audits of municipal agencies and departments and include such audits in its general report of the audit of the city.

(Code 1993, § 2-18)