Adjustment for Net Audited Costs Sample Clauses

Adjustment for Net Audited Costs. If, upon completion of the CBMWD annual audit for fiscal year, it is determined that the amount received by CBMWD during such year from service charges is more or less than the cost of maintenance and operation of the Regional Sewerage System for the year, the surplus or shortage, as the case may be, shall be transferred to or made up from the Regional Sewerage System Operation and Maintenance Fund reserve for replacement of Regional Sewerage System facilities (the "Replacement Reserve"). If such an audit results in a surplus being transferred to the Replacement Reserve, an appropriate adjustment shall be made in the budget for the fiscal year next succeeding the fiscal year then in progress and the rate of the service charge for that fiscal year shall be adjusted accordingly. If such an audit results in a shortage being made up out of the Replacement Reserve, an appropriate adjustment shall be made in the budget for the fiscal year next succeeding the fiscal year then in progress to provide for the reinstatement of the amount of the shortage, and the service charge rate for that fiscal year shall be adjusted accordingly.
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Related to Adjustment for Net Audited Costs

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