(A) Fiscal year. The fiscal year of the sanitary sewage collection system shall end on the last day of March.
(B) Records and accounts. The village shall keep and maintain proper books and records and accounts separate from all other records and accounts of the village in which shall be made full and correct entries of all transactions relating to the sanitary sewage collection and treatment system. The village shall cause an annual audit of the books and records and accounts of the preceding operating year to be made by a recognized independent certified public accountant and will supply the audit to authorized public officials upon proper request.
(C) Biennial review of operations and maintenance charges. The village shall review not less often than every two years the wastewater contribution of users and user classes, the total costs of operation and maintenance of the treatment works, and its approved user charge system. The village shall revise the charges for users or user classes to accomplish the following:
(1) Maintain the proportionate distribution of operation and maintenance costs among users and user classes;
(2) Generate sufficient revenue to pay the total operation and maintenance costs necessary to the proper operation and maintenance (including replacement) of the treatment works; and
(3) Apply excess revenues collected from a class of users to the cost of operation and maintenance attributable to that class for the next year and adjust the rate accordingly.
(Ord. 114, passed 11-7-1988)