(A) All sewer charge monies shall be placed in the sewerage fund. Sewer charge monies for the operation and maintenance shall be kept in separate accounts from the monies collected from the replacement reserve. Sewer charge funds shall be used to cover costs as outlined in § 50.03.
(B) Expenditures shall be made by the village management in accordance with the detailed annual budget and ordinances authorized by the Village Board.
(C) Expenditures from the replacement reserve on facilities shall be for making renewals to accommodate wear of physical elements and/or movable property, which would result in an extended useful life or meet the anticipated useful life.
(D) An audit shall be performed no less than once per annum. Such audit shall be performed by a certified public accountant selected by the Village Board.
(E) The USEPA or its authorized representative shall have access to any books, documents, papers, and records of the village which are applicable to the village system of user charges for the purpose of making audit, examination, excerpts, and transcriptions thereof to ensure compliance with the terms of the federal regulations and conditions of the federal grant.
(Prior Code, § 7-4-5) (Ord. passed 9-10-1984)