(A) Annual Review Of Rates And Charges: The adequacy of the water and sewer rates and charges shall be reviewed not less often than annually, by certified public accountants for the village in their annual audit report. The water and sewer rates shall be revised periodically to reflect a change in local capital costs or operating, maintenance and replacement costs.
(B) Revenues And Accounts: All revenues and monies derived from the operation of the water and sewer system shall be deposited in the water account of the water and sewer fund. All such revenues and monies shall be held by the water department manager separate and apart from all other funds of the village treasurer and deposited not more than five (5) days after receipt of the same, or at such more frequent intervals as may from time to time be directed by the mayor. The water department manager shall receive all such revenues from the water and sewer system and all other funds and monies incident to the operation of such system as the same may be delivered to her and deposit the same in the account of the fund designated as the water and sewer fund of the village. Said manager shall administer such fund in every respect in the manner provided by statute of the "Revised Cities and Villages Act", effective January 1942.
The village water department manager shall establish a proper system of accounts and shall keep proper books, records, and accounts in which complete and correct entries shall be made of all transactions relative to the water and sewer system, and at regular annual intervals she shall cause to be made an audit by an independent auditing concern of the books to show the receipts and disbursements of the water system.
In addition to the customary operating statements, the annual audit report shall also reflect the revenues and operating expenses of the water facilities, including a replacement cost. The financial information to be shown in the audit report shall include the following:
1. Flow data showing total gallons received at the water plant for the current fiscal year.
2. Billing data to show total number of gallons billed per fiscal year.
3. Debt service for the next succeeding fiscal year.
4. Number of users connected to the system.
5. Number of nonmetered users.
(C) Agency Access To Records: The Illinois environmental protection agency or its authorized representative shall have access to any books, documents, papers and records of the village which are applicable to the village system of user charges for the purpose of making audit, examination, excerpts and transcriptions thereof to ensure compliance with the terms of the special and general conditions to any state grant.
(D) Appeals: The method for computation of rates and service charges established for user charges shall be made available to a customer within five (5) days of receipt of a written request for such. Any disagreement over the method used or in the computations thereof shall be resolved by the village trustees within twenty (20) days after notification of a formal written appeal outlining the discrepancies. (Ord. 293R, 4-8-1998)