(a) The Finance Director shall establish Fund #103 for Solid Waste Disposal in which:
(1) All collections from the households made under this chapter shall be deposited.
(2) All collections by the Lake County Auditor of previously assessed delinquencies, net of any collections fees, shall be deposited.
(3) Any grants relating to Solid Waste Disposal shall be deposited.
(4) All expenses relating to the disposal of Solid Waste shall be paid.
(5) All expenses relating to recycling Solid Waste shall be paid.
(6) All expenses relating to the collection of the amount due from the residents shall be paid.
(b) By October 1 of each year, the Finance Director shall:
(1) Estimate the cost of the next year's solid waste collection and any other related costs.
(2) Estimate the yearend balance in the Solid Waste Disposal Fund.
(3) In the event the estimated year balance is $0.00, estimate the amount of advances from the General Fund to be repaid in the next year.
(4) To determine the amount of funds needed to be collected in the next year:
A. The next year's costs determined in subsection (b)(1) will be added the amount of advances to be repaid determined in subsection (b)(3).
B. The estimated year end fund balance determined in subsection (b)(2) will then be subtracted.
(5) The amount determined in subsection (b)(4) will then be increased to cover the expected delinquencies.
(6) The amount determined in subsection (b)(5) will then be divided by the number of households to determine the annual amount due from each resident, this total will be divided by four to determine the amount to be billed in January, April, July and October of the next year.
(c) In the event that an unpaid charge is certified to the tax duplicate of the property, the City shall then increase the charge by twenty-five dollars ($25.00) to cover the administrative costs of the assessment. (Ord. 2012-003. Passed 1-24-12.)