(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 of record and account 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 to determine whether or not it is sufficient to meet expected expenditures for the following year.
(C) Classification of old and new industrial users shall also be reviewed annually.
(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 monies received for losses under any such insurance policies shall be applied solely to the replacement and restoration of the property damaged or destroyed.
(Ord. passed 4-11-2019)