[Ord. No. 68,
§ 5.1, eff. 8-10-1979]
The operation, maintenance, alteration, repair and management
of the systems shall be under the supervision and control of the board.
The board may employ a superintendent of the department to manage
the department and such other person or persons it deems advisable
to carry on the maintenance and operation of the department.
[Ord. No. 68,
§ 5.2, eff. 8-10-1979; 5-19-2014 by Ord. No. 142]
All revenues of the systems shall be deposited in a qualified
depository designed by the Board and in an account designated as the
"water supply and sewage disposal system fund," hereinafter referred
to as the "fund." Such revenues shall be accounted for as follows:
(1)
Operation and maintenance of the water and sewer funds.
a.
For budgeting and rate-setting purposes, accounting records shall
separate sewer system expenses from water supply system expenses.
The municipality shall set rates and charges so that:
b.
The Superintendent, based upon the costs of the prior year and anticipated
costs for the ensuing year, shall annually recommend a separate budget
for each system to the Board. If the costs of the prior year or the
recommended budget for the ensuing year indicate a deficiency of revenues
to meet the costs in either or both systems, the Board shall adjust
the rates and charges for the system or systems to eliminate such
deficiency. The rates and charges shall be in relation to the costs
incurred to provide services to each user.
(2)
Bond reserve.
a.
A reserve amount shall be calculated and set aside until all water
and sewer bonds are paid off. The reserve amount shall be computed
by calculating the lesser of the following:
b.
In the event the Township enters into a bond agreement and the agreement
is more restrictive, that agreement would supersede this section.
[1]
Editor's Note: Former Section 64-153, Insufficient funds,
adopted 8-10-1979 by Ord. No. 68, was repealed 5-19-2014 by Ord. No.
142.
[Ord. No. 68,
§ 5.4, eff. 8-10-1979]
Moneys in funds of the systems may be invested in accordance
with applicable state statute and the limitations imposed in such
statute. Income received from such investments shall be credited to
the receiving fund.
[Ord. No. 68,
§ 5.5, eff. 8-10-1979]
Nothing contained in this division shall be construed to prevent
the municipality issuing revenue bonds, or from entering into additional
contracts with the county under the provisions of Act No. 342 of the
Public Acts of Michigan of 1939 (MCL 46.171 et seq., MSA 5.2767(1)
et seq.), as amended, for the acquisition, construction and financing
of additions, extensions and improvements to the systems, and the
use of revenues of the systems for the payment of additional obligations
incurred by such contract.
[Ord. No. 68,
§ 5.6, eff. 8-10-1979]
(a)
All accounting for revenues generated by the systems shall be based
on a fiscal year commencing January 1 and ending December 31.
(b)
The municipality shall maintain and keep books of record and account,
in which shall be made full and correct entries of all transactions
relating to the wastewater and water supply systems. The municipality
shall cause to be prepared not later than three months after the end
of each fiscal year a statement showing the cash income and disbursements
of the systems at the beginning and end of the fiscal year, and such
other information necessary to enable any person to be fully informed
as to all matters pertaining to the fiscal operation of the systems
during such year. Such annual statement shall be filed in the office
of the clerk and open to public inspection. Such books of record and
account shall be audited annually by a certified public accountant
to be designated by the board. A certified copy of such audit shall
be filed with the clerk.
