The port of Bethel, owned and operated by the city, shall be operated from a fund separate from the general fund. An accounting system for each such fund shall be established within the department of finance and shall be set up and maintained so as to reflect the financial condition of the enterprise, its income and expense. A balance sheet and statement of income and expense shall be made for each such fund annually and as often as the city council may request. [Ord. 17-11 § 2.]