Submission of Detailed Statements of Income and Expenditures.
Section 16
SEC. 16. Submission of Detailed Statements of Income and Expenditures.—On or before the fifteenth day of April of each year, the local treasurers shall submit to their respective local chief executives a certified statement covering the income and expenditures pertaining to the preceding fiscal year; the actual income and expenditures of the first three quarters and the estimated income and expenditures for the fourth quarter of the current year; and the estimates of income for the ensuing fiscal year. The local treasurer shall also certify to the reasonable probability of realizing the estimates of income for the ensuing fiscal year.