The Board, with the concurrence of the City Administrative Officer, shall determine on a regular basis the verifiable costs of the City for the items set forth in this article. These costs shall be the actual total costs incurred, including all applicable indirect costs, as determined by the Board. The Board shall use those costs to develop a cost recovery schedule of applicable charges necessary to recover City costs. The Board shall adopt these costs as fees at any time during each fiscal year. The cost recovery schedule shall be based upon verifiable costs for an activity or issuing a permit in connection with any activity. The cost calculation shall include inspection costs, labor, retirement costs on direct labor and departmental and general City overhead applicable to the issuance of a permit or activity. It shall take into consideration the number of permits issued and affected by the permit charges within the period of time used for reference in development of the charges. Upon adoption of a schedule of verified costs by the Board as provided in this section, the Board shall transmit the Board order to the Mayor and to the City Council. Fee calculation shall include Sections 57.106.6.3.2 and 57.106.7.1.1.