A. The Chief Financial Officer and the Superintendent of Schools shall close the budgetary books of the Borough and of the School District, respectively, not more than 90 days after the end of the fiscal year.

B. The Assembly shall have conducted an annual independent audit of all Borough accounts, including the accounts of the School District, by a qualified certified public accountant who meets independence standards established by the American Institute of Certified Public Accountants and the Government Accountability Office. The audit shall be completed as soon as practicable following the close of the applicable fiscal year but no later than April 1st of the following calendar year. The auditor shall present reports required by Generally Accepted Auditing Standards to the Borough Audit Committee. The Mayor or the Mayor’s designee shall prepare such response to the audit reports addressing any findings or recommendations included in those reports as the Mayor or the Mayor’s designee deems appropriate. Copies of the final audit reports, and the Mayor’s response thereto, shall be made available to the public as soon as practicable. (Ord. 2008-40 § 4, 2008; Ord. 2001-06 § 3, 2001; Ord. 86-017 § 40, 1986; Ord. 85-001 § 2, 1985. 2004 Code §§ 3.01.200(A), (B).)