A. Enterprise Funds: There will be permanent enterprise funds established wherein all of the proceeds collected pursuant to this chapter shall be placed. There shall be a "water fund", a "sewer fund", and a "garbage fund". Each particular utility shall be self-sustaining, and the city shall set the rates to be charged at a self-sustaining level. Each fund shall be segregated, and the city may transfer excess funds from one fund to another fund. Excess funds are funds that are not:
1. Obligated for equipment and operation of the utility;
2. Guaranteed for the payment of money for the city;
3. Designated for authorized payment of bonds or other evidence of the city's indebtedness; or
4. Designated for a specified purpose.
B. Reserve Funds: There shall be established a reserve fund for each utility fund to equal an amount necessary for six (6) months' operation of each utility. These reserve funds shall be fully funded within at least five (5) years. (1996 Code § 13.24.030)