There is hereby created in the treasury of the city of Glendora
an enterprise fund to be known as the water fund.
(Prior code § 2.69; Ord. 1750 § 1(part), 2002)
Expenditures from the water fund shall be made only for the
administration, operation, and maintenance of the city of Glendora
domestic water system and its capacity to serve the users thereof.
(Ord. 1750 § 1, 2002)
All water service charges and miscellaneous water related charges
not otherwise designated shall be credited to the water fund.
(Ord. 1750 § 1, 2002)
There is hereby established within the water fund a reserve
account for the acquisition and replacement of capital equipment used
by the water department in administration, operation and maintenance
of the domestic water system. Such expenditures include, but are not
limited to, the acquisition and replacement of vehicles, computer
systems and communications equipment assigned to the water department.
The capital equipment reserve shall be funded in amounts derived
through charging equipment users an annual fee sufficient to recover
the depreciation cost of equipment acquired by the fund based on the
anticipated useful life of the equipment.
(Ord. 1750 § 1, 2002)
Expenditures from the water fund may be authorized by the city
council by the adoption of the water fund budget or by supplemental
appropriation from the fund.
(Prior code § 2.70; Ord. 1750 § 1, 2002)
Interest earned on the water fund cash balance shall be recorded
as revenue to the fund.
(Ord. 1750 § 1, 2002)
