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On or before the first day of each month, the tax collector must settle with the auditor for all moneys collected for the city and pay the same to the city treasurer, and on the same day must deliver to and file in the office of the city auditor a report showing:

A. An itemized account of all his transactions and receipts since the last settlement;

B. That all money collected by him as tax collector has been paid to the city treasurer. (Prior code § 6.04.590)