(a) Fiscal Year for Water and Sewerage System. The water and sewerage systems shall be operated on the basis of a fiscal year commencing on July 1 and ending June 30.
(b) Revision of Rates; Audit. The rates set forth in this chapter are estimated to be sufficient to provide for the payment of any indebtedness, to provide for the expenses of administration and operation, to provide for the expenses of maintenance of such system as necessary to preserve the same in good repair and working order, and to build up a reasonable reserve for equipment replacement. Such rates shall be fixed and revised from time to time as may be necessary to produce these amounts. An annual audit shall be prepared. Based on such audit, rates for water and sewage service shall be reviewed annually and revised as necessary to meet system expenses and to ensure that all user classes pay their proportionate share of operation, maintenance and equipment replacement costs. (Ord. 623. Passed 10-30-95.)