[Added 5-19-2009 by Ord. No. 2009-7]
The Finance Director shall establish and maintain a set of accounts within a fund, designated as the “Sewer Use Fund,” for the purpose of recording and reporting on the assets, liabilities, revenues, expenses, and fund balances resulting from the assessments, fees, and other charges as described in this chapter.
The Finance Director shall annually present a financial budget for the Sewer Use Fund. The budget shall include a schedule for revenues, operating expenses, capital expenses, and debt service for the fund.
The Finance Director shall prepare and report to the Town Council an annual financial statement of operating revenues and expenses, assets and liabilities, and fund balance as of June 30 of each year for the Sewer Use Fund. The report shall be submitted to the Town Council no later than the regularly scheduled meeting of September.
The Sewer Use Fund financial report shall be included as a part of the annual Town-wide financial audit.