§ 614. Enterprise accounting.

Latest version.

(a)

Separate budgets for each utility shall be included in the current expense and capital budgets prescribed in this Article which shall include statements of revenue and expense for the required fiscal years.

(b)

If for any two consecutive fiscal years any utility shall operate at a net loss as shown by its annual profit and loss statement, it shall be the duty of the Executive to recommend and the Council, by ordinance, to adopt for that utility a schedule of rates which in its judgment will produce revenue at least equal to expense.

Editor's note

An amendment to § 614 was proposed by Res. No. 125, 2005 and approved by the voters at an election held on Nov. 7, 2006 and became effective Dec. 7, 2006.

                    
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