property, real and personal, belonging to th e city, including cash in the treasury; (2) a statement of the liabilities of the city; (3) an estimate of the revenues of the city from all sources for the ensuing year, with a statement opposite each item of the amount realized from such sources during t he current year; (4) an estimate of the ordinary expenses for the ensuing year, with a statement opposite each item of the corresponding expenses during the current year; (5) an estimate of such extraordinary expenditures as may be necessary for any purpos e, the approximate total expenditure recommended, and the amount which it is expected to expend during the ensuing year; also an itemized statement of the extraordinary expenditures during the current year. ( k ) He shall, as soon as practicable after the first day of January of each year, prepare and present to the Governor-General an annual report covering the operations of the city government during the preceding year. [1963-5; 2305-2.] SECTION  2531 . The Vice-Mayor . — There shall be a vice-mayor who shall be a member of the city council, and who shall, during the absence of the mayor from the city or his disability for any reason, discharge the duties of his office and exercise all his po wers, except that of removing any officer from office. [1963-6.] SECTION  2532 . The City Council — Meetings — Ordinances . — There shall be a city council composed of the mayor, vice-mayor, and three other members, two of whom shall be elected in conformity with the provisions of the Election Law. The council shall fix th e times and places for its regular meetings, which shall be held once in each week, and shall hold special meetings when called by the mayor. Any meeting, regular or special, may, in case the amount of business shall require, be adjourned from day to day u ntil the business is completed. Meetings shall be open to the public, unless otherwise ordered by an affirmative vote of a majority of its members. It shall keep a record of its proceedings and determine its rules of procedure not herein set forth. A majority  of the council shall constitute a quorum for the transaction of business, but a smaller number may adjourn from time to time. The ayes and noes shall be taken and ARTICLE  III The Councils and Secretary 762 Copyright 2012 CD Technologies Asia, Inc. and Accesslaw, Inc. Philippine Law Encyclopedia 2011