(a) Separate budgets for each utility shall be included in the current expense and capital budgets prescribed in this Article which shall include statements of revenue and expense for the required fiscal years.
(b) The accounting system of each utility shall conform to generally accepted principles of utility accounting and shall be kept on an accrual basis. The expense of operating each utility shall include taxes, if any, lawfully accruing during the fiscal year.
(c) If for any fiscal year a utility fund operates at a net loss and the balance sheet of the utility that has operated at a loss shows a deficit at the end of a fiscal year, it shall be the duty of the County Executive to recommend for that utility a schedule of rates that in the County Executive's judgment will produce revenue at least equal to the amount of the deficit plus the estimated operating expenses of the utility for the current fiscal year.
(Bill No. 84-82; Bill No. 86-82)