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(a)
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(1) The governing body of each municipality shall publish annually a financial statement of the municipality, including receipts and expenditures for the period and a statement of the indebtedness and financial condition of the municipality. The financial statement shall be published one (1) time in a newspaper published in the municipality.
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(2) This financial statement shall be at least as detailed as the minimum record of accounts as provided in this chapter.
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(3) This financial statement shall be published by April 1 of the following year.
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(b) In municipalities in which no newspaper is published, the financial statement shall be posted in two (2) of the most public places in the municipality.