The City shall establish a proper system of accounts and shall keep proper records, books and accounts in which complete and correct entries shall be made of all transactions relative to the sewer system and at regular annual intervals the City Council shall cause to be made an audit by an independent auditing concern or the State of Iowa, of the books to show the receipts and disbursements of the sewer system. The City shall be required annually to prepare a budget of the sanitary sewer system to show the required revenues and expenses. If necessary, user charge rates will be adjusted to produce adequate income to retire the indebtedness, meet operation, maintenance and replacement needs, and required reserves. (Ord. 94, 1979)