In this subtitle, “utility” means the stormwater utility governed by <cite data-doc="City of Baltimore, Md., Charter" data-path="VI|§18">City Charter Article VI, § 18</cite>. Ord. 13-143

The accounting system for the stormwater utility:shall conform to generally accepted principles of utility accounting; and shall be kept on the accrual basis and in the manner prescribed under <cite data-doc="City of Baltimore, Md., Charter" data-path="VII|§11">City Charter Article VII, § 11</cite> {“Department of Finance: accounting”}. The records of revenues of the stormwater utility shall be kept so that the fees imposed on each class of property, according to the rate schedules adopted under <cite data-path="|27">this article</cite>, can be determined. Ord. 13-143

After the close of each fiscal year, a report on the financial operations of the stormwater utility shall be:submitted to the Board of Estimates, the Board of Finance, and the members of the City Council; filed with the Department of Legislative Reference; and posted by the Department of Public Works on its website. The report shall contain at least:the following financial statements:a comparative statement of operating and capital revenues and expenditures and of net assets showing the financial conditions of the utility as of the beginning and close of the fiscal year; a comparative statement of operating and capital budgets and of revenues, expenses, and changes in net assets for the last 2 fiscal years; and a comparative statement of cash flow for the last 2 fiscal years; and performance outcomes. The report required by this section:in addition to any other report required by law; but may be submitted as a separate section of the statements provided for in <cite data-doc="City of Baltimore, Md., Charter" data-path="VII|§11">City Charter Article VII, § 11</cite> {“Department of Finance: accounting”}. Ord. 13-143

After each fiscal year of operation, if it appears that there will be revenues in excess of those budgeted for that fiscal year:the Board of Estimates may authorize additional expenditures for the following fiscal year or years, in an amount not exceeding the excess revenues, for uses permitted by <cite data-path="|27|§2-3">§ 2-3 {“Permitted uses of Fund”} of this article</cite>; or on recommendation of the Directors of Finance and Public Works, the Board of Estimates may decrease for the following fiscal year or years the rates for the stormwater remediation fee. All additional expenditures of the stormwater utility are subject to the appropriation procedures provided in <cite data-doc="City of Baltimore, Md., Charter" data-path="VI">City Charter Article VI</cite> {“Board of Estimates”}. Money in the Watershed Protection and Restoration Fund may not revert or be transferred to the general fund of the City. Ord. 13-143

The City may lend to the stormwater utility an amount not to exceed the equivalent to a 60-day cash-working-capital requirement. The loan shall be repaid by the utility on or before 24 months from the date of the loan, with interest at the rate of the average interest earned by the City on its invested funds during the same period. Ord. 13-143

If any provision of this subtitle for the stormwater utility is inconsistent with any covenant, condition, law, or rule or regulation governing any contract, project, or grant from the United States or from the State or funds dedicated by an Act of Congress or by State law or by the terms of any private grant, the provision in this subtitle applies only to the extent that it is not inconsistent with the covenant, condition, law, or rule or regulation. Ord. 13-143