Question: Should section be amended to provide that the Council shall cause “a comprehensive annual audit” to be made of the City’s financial statements; the City’s financial statements shall be performed by the office of the Ohio Auditor of State or one or more independent firms of certified public accountants; the audit “shall present fairly the financial position of the City at the end of each fiscal year and the results of the operations and changes in its financial position for the fiscal year, all in conformity with generally accepted accounting principles”; and a copy shall be provided the office of the Ohio Auditor of State?

Proposed Language:

§ 47     Audit and Examination

The Council shall cause a comprehensive annual audit to be made of the financial statements of the City and the supporting books of account, records and transactions of all departments of the City. The financial statements, during each fiscal year, shall be performed by the office of the Ohio Auditor of State or one or more independent firms of certified public accountants. The audit shall present fairly the financial position of the City at the end of each fiscal year and the results of its operations and changes in its financial position for the fiscal year, all in conformity with generally accepted accounting principles. The report of the accountants for each fiscal year shall be printed and a copy thereof furnished to the office of the Ohio Auditor of State, to the Mayor, to each member of the Council and to each citizen who may request a copy.

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