The auditor shall publish each month a statement of the financial condition of the City. Each of the administrative officers and boards shall annually, on such date as may be fixed by the City Council, render to the City Manager a full report of the transactions of his or their department for the year. The City Manager shall thereafter prepare and publish an annual report for general distribution. In addition to a summary of the services rendered by the various departments, the report shall show:
(a) Receipts classified according to sources.
(b) Expenditures classified according to objects. The classification of receipts and expenditures in the report shall conform in general to the classification employee in the City's accounting system.
(c) Balance sheets.
(d) Such other financial information as may be required by the City Council.