A. Under the direction of the city administrator, the finance director shall prepare and present to the city council monthly summary financial reports and quarterly detailed interim financial reports, prepared in a manner consistent with the Uniform Accounting Manual for Utah Cities.

B. Within one hundred eighty days after the close of each fiscal year, the finance director shall present to the city council an annual financial report prepared in conformity with generally accepted accounting principles, as prescribed in the Uniform Accounting Manual for Utah Cities. This requirement may be satisfied by presentation of the audit report furnished by an independent auditor, if the financial statements included therein are appropriately prepared and reviewed with the city council. The requirements for responsibility, conformity and filling of the independent auditor’s report is as defined in the Uniform Fiscal Procedures Act for Utah Cities. (Ord. 8-25-98B (part))