[HISTORY: Adopted by Mayor and Council of Borough of Wenonah 8-23-1990. Amendments noted where applicable.]
There shall be a unified financial accounting system between the Water and Sewer Utility Funds. Those fees, bills, charges, penalties, payments, collections and other matters having to do with the Sewer Utility Fund (as contained in Chapter 51 of the Code of the Borough of Wenonah, entitled "Sewers and Sewer Rents") and the Water Utility Fund (as contained in Chapter 70 of the Code of the Borough of Wenonah, entitled "Water") shall be combined to the extent practical, and as permitted by law, into a single financial accounting system.
The types of single accounting covering the combined Sewer Utility
and Water Utility Funds shall include but are not limited to single
banking account(s) covering both funds, single bond and note authorization
and issuance (as necessary), a single operating cash and accounts
receivable section, a single capital section, a single set of reserves
for appropriations, overpayments, receivables, fund balance, unfunded
improvement authorization, capital improvement and amortization and
other areas as necessary.
With regard to an allocation of expenses, when preparing the
Annual Budget of the Borough of Wenonah or such interim or other financial
reports or accounting as may be required or occur, expenses attributable
to both the Sewer and Water Utility Funds, including but not limited
to capital improvements, capital outlay, salary and wages, contributions
to OASI, insurance, etc., shall be combined to the extent possible
and as permitted by law.
The receipt of all items of income, including but not limited
to rents, penalties, collection of liens, credits to income, miscellaneous
receipts, etc., shall accrue to a single account or such combined
accounts as may be developed to the extent possible and as permitted
by law.
Nothing in this ordinance shall prohibit the individual source accounting of any items of income or expense, or such management accounting as is deemed necessary or desirable, between the Sewer Utility Fund and the Water Utility Fund of the Borough of Wenonah, including the individual calculations of fees, bills, charges, penalties, payments, collections, etc., as are unique and distinct between individual customers regarding separate water and sewer services, as called for in Chapters 51 and 70 of the Borough Code of the Borough of Wenonah.
When, in the opinion of the Municipal Finance Officer, with
the approval of the Borough Auditor, any combining of accounting methods
or practices between Sewer Utility Funds and Water Utility Funds is
desirable for the effective management of said funds, and if permitted
by law, then said methods and practices may be so adopted and utilized.
Should any section, clause, sentence, phrase or provision of
this ordinance be declared unconstitutional or invalid by a court
of competent jurisdiction, such decision shall not affect the remaining
portions of this ordinance.
All prior ordinances or parts of ordinances inconsistent with
this ordinance shall be and the same are hereby repealed to the extent
of such inconsistencies.
This ordinance shall take effect January 1, 1991, upon its passage
and due publication according to law.
