12.070 Utilities Funds and Expenses.

(1) Receipts. All utilities receipts shall be paid to the Finance Director on a daily basis and deposited by the Finance Director into accounts therefor. Utility funds shall be separately accounted for by the water, electric and communication utilities and shall be expended for utility purposes as the Commission shall direct.

(2) Expenses. Utility expenses shall be audited by the Commission at its regular meeting, and, if approved by its president and secretary, shall be paid by the Finance Director. Utility expenses shall be separately accounted for by the water, electric and communications utilities.

(3) Responsibility for Funds. The Finance Director shall be in charge of and responsible for the investing of funds held by the Manitowoc Public Utilities. The Finance Director shall consult with management of the Manitowoc Public Utilities for the purpose of knowing when water, electric and communication utility funds will be required for utility purposes.

[Prior code § 12.07]