(A) The Utility Commission shall maintain financial records to accurately account for revenues generated by the public water system and expenditures for operation and maintenance of same, including normal replacement costs.
(B) The city shall review not less often than annually the water usage, including water losses, the total cost of OM&R of the PWS, debt service obligations, and water user charge rates. Based on such review, the city shall revise, when necessary, the schedule of water user charge rates to accomplish the following:
(1) Maintain an equitable distribution of OM&R costs among users of the water treatment works; and
(2) General sufficient revenues to offset costs associated with the proper operation and maintenance of the PWS, including replacement and to meet debt service requirements.
(3) Each user shall be notified, at least annually, in conjunction with a regular bill of the rate and that portion of the total charge which is attributable to OM&R of the PWS.
(Ord. 16-2001, passed 12-4-01; Am. Ord. 11-2007, passed 9-18-07; Am. Ord. 12-2007, passed 9-18-07; Am. Ord. 04-2014, passed 4-22-14; Am. Ord. 13-2014, passed 12-23-14)