§ 94-189. Annual budget and method of payment of charges.

(a)

Budget. Annually before the first village board meeting in October, the village administrator shall prepare a budget for the following fiscal year, which shall be separated into sections, the first for operation, maintenance and replacement and the second for capital costs.

(b)

Revenues for operation and maintenance budget. Revenues for the operation and maintenance budget shall include any projected year-end balance (excluding replacement funds), operating fund investment income, contract revenues, permit fees, special rates and sewer use charges.

(c)

Expenditures for operation and maintenance budget. Expenditures for the operation and maintenance budget shall include all costs defined in sections 94-253 and 94-255 plus any projected year-end deficit.

(d)

Budget to balance with sewer use charge. The operation and maintenance budget shall balance with the sewer use charge so that projected revenues equal projected expenditures.

(e)

Excess revenues. Any excess revenues collected from a user class for operation, maintenance and replacement costs will be attributable to that class for future charges within two years.

(f)

Revenues for debt service budget. Revenues for the debt service budget can include any projected year-end balances in the special assessments funds, connection charges and sinking fund interest income.

(g)

Expenditures for capital budget. Expenditures for the capital budget shall include principal, interest, premiums, depreciation, paying agency fees and other expenses related to capital.

(Code 1983, § 13.39(1)—(7))