All sewer user charges shall be deposited by the Clerk in a non-lapsing fund consisting of at least two accounts, as follows:
1. An Operation and Maintenance Account, into which shall be deposited that fraction of the total user charges dedicated to operation and maintenance. Funds in this account shall be used only for the purpose of defraying operation and maintenance costs of the treatment works. Balances remaining in the fund at the end of the fiscal year shall be carried forward to the next succeeding fiscal year.
2. A Replacement Account, into which shall be deposited that fraction of the user charges dedicated to replacements. Funds in this account shall be used only for the purpose of defraying the replacement costs of the treatment works. Balances remaining in the account at the end of the fiscal year shall be carried forward in the same account to the subsequent fiscal year.
Any transfer of funds from other revenue sources to meet temporary shortages in these accounts may be refunded following an appropriate adjustment in the sewage treatment works user charge rates.