§ 21. Council to publish annual financial statement.

The council shall have the financial records of the city audited annually by a certified public accountant and, within one hundred and twenty (120) days after the end of each fiscal year, cause to be published in the official newspaper a correct and full summary of the audited receipts and expenditures for such fiscal year, the sources from which the funds were derived, the purposes for which funds were disbursed, the condition of the treasury, together with such information necessary to an understanding of the financial condition of the city, and a notice that the complete audit is available for public review and inspection. A full and complete copy of the annual audit and a certified copy of the information published shall be filed with the city secretary as a permanent record of the city.