The Water Department shall be under the management and control of the City Manager and the City Council. All revenues and monies derived from the operation of the water system shall be paid to and held by the city separate and apart from all other funds of the city and all of said sums and all other funds and monies incident to the operation of said system, as may be delivered to the city, shall be deposited in a separate fund designated the Water Department Fund or Account and the Council shall administer said fund in every respect in a manner provided by the code of Iowa and all other laws pertaining thereto. The city shall establish a proper system of accounts and shall keep proper records, books and accounts in which complete and correct entries shall be made of all transactions relative to the water system and at regular annual intervals the Council shall cause to be made an audit of the books to show the receipts and disbursements of the water system. In the policy where the word “city” is used, this will represent the City of Fort Madison or its agent to whom responsibility for management of the waterworks system has been delegated.
(Ord. D-20, passed 10-21-2014)