Question: Should section be amended to provide that “accounting records shall be maintained by the Department of Finance documenting the financial transactions of all funds and account of the City”; that “accounting records shall be maintained in a form as shall enable the City to monitor expenditures, revenues and appropriations and to prepare financial statements in accordance with generally accepted accounting principles and as required by law or ordinance”; and that the last two sentences in the section be repealed?

Proposed Language:

§ 95     Accounting Procedure

Accounting records shall be maintained by the Department of Finance documenting the financial transactions of all funds and accounts of the City. The accounting records shall be maintained in a form as shall enable the City to monitor expenditures, revenues and appropriations and to prepare financial statements in accordance with generally accepted accounting principles and as required by law or ordinance.