The Director of Finance shall deposit all money belonging to the City in banks which shall be designated by the Board of Finance. And it shall be the duty of the Board of Finance in making the selection to enter into an agreement with the banks so selected with regard to compensating the City either by service rendered by the banks to the City, or some rate of compensation in the form of interest on the balances belonging to the City, as in its judgment will be most beneficial to the City. The Board of Finance, in consultation with the Minority and Women’s Business Opportunity Office, shall adopt regulations to require that the banks selected are in full compliance with the City’s Commercial Non-Discrimination Policy, as set forth in Subtitle 29 of <cite data-path="|5">this Article</cite>. It shall be the duty of the Director of Finance to keep regular and correct account of all moneys received and expended by him on behalf of the City. And he shall submit an annual report as soon as practicable after June 30, showing all moneys received and expended by him during the preceding fiscal year. City Code, 1950, art. 6, §12 1966, art. 5, §11 1976/83, art. 5, §11 Ord. 46-392 Ord. 65-658 Ord. 06-186