(A) The local agency will maintain and keep proper books of records and accounts, separate from all other records and accounts, in which shall be made full and correct entries of all transactions relating to the system. The local agency will cause an annual audit of such books or records and accounts for the preceding operating year to be made by a recognized independent certified public accountant, and will supply such audit report to authorized public officials on request.
(B) In conjunction with the audit there shall be an annual review of the sewer charge system for adequacies meeting expected expenditures for the following year.
(C) Classification of old and new industrial users should also be reviewed quarterly.
(D) The Local Agency will maintain and carry insurance on all physical properties of the system, of the kinds and in the amounts normally carried by public utility companies and municipalities engaged in the operation of sewage disposal systems. All moneys received for losses under any such insurance policies shall be applied solely to the replacement and restoration of the property damaged or destroyed.
(Ord. 214, passed 6-5-95)