(1)The Board of Councilors shall convene a meeting of the citizens in each area covered by [one or more wards, as the Board of Councilors may decide] [Substituted by the West Bengal Act 13 of 1995, w.e.f. 5.9.1995 for 'a borough committee'.], once a year for placing its annual administration report and annual financial statement [of the preceding year] [Inserted by ibid, w.e.f. 5.9.1995.] for public information and deliberation thereon.