The city shall have its records and accounts audited annually and shall have an annual financial statement prepared based on the audit. The audit shall be performed by a licensed certified public accountant or a public accountant who holds a permit to practice from the Texas State Board of Public Accountancy. Such audit and financial statement shall be filed with the city secretary within one hundred twenty (120) days after the last day of each fiscal year.
(1996 Code of Ordinances, Chapter 1, Article 6.00)