It is hereby required that the accounting records and the operating statements for the water utility operations recognize annual depreciation of the water treatment plant and the overhead storage reservoir as an operating expense. Annual depreciation shall continue until said facilities are fully depreciated, and shall be recognized regardless of whether or not the operations result in a profit or a loss. Nothing in this subchapter shall be construed to prevent the recognition of depreciation for other assets in the accounting records and/or supporting statements.
(Prior Code, § 5.0403)