(A) The Village Treasurer shall establish a proper system of accounts and shall keep proper books, records and accounts in which complete and correct entries shall be made of all transactions relative to the waterworks and sewerage system, and at regular annual intervals he or she shall cause to be made an audit by an independent auditing concern of the books to show the receipts and disbursements of the waterworks and sewerage system.
(B) In addition to the customary operating statement, the annual audit reports shall also reflect the revenues and operating expenses of the water and wastewater facilities, including a replacement cost, to indicate that service charges under the cost recovery system and capital amounts required to be recovered under the industrial cost recovery system do in fact meet these regulations. In this regard, the financial information to be shown in the audit reports shall include the following:
(1) Flow data showing total gallons received at the wastewater plant for the current fiscal year;
(2) Billing data to show total number of gallons billed;
(3) Debt service for the next succeeding fiscal year;
(4) Number of users connected to the system;
(5) Number of non-metered sewer users; and
(6) A list of users discharging non-domestic waste (industrial users) and volume of waste discharged.
(Ord. 1984-1, passed 10-3-1983; Ord. 1984-3, passed 6-4-1984)