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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />COST OF WATER <br /> <br />To the extent possible, data relating to the cost of providing <br /> <br /> <br />water service have been compiled from published reports, financial <br /> <br /> <br />statements and audits. The statutes governing the formation and <br /> <br /> <br />operation of special districts require that an audit be made of all <br /> <br /> <br />financial affairs of the district during each year ending November 30, <br /> <br /> <br />the audit to be made during the last month of each calendar year. It <br /> <br /> <br />is also required that a financial statement, certified by the person <br /> <br /> <br />making the audit, shall be publisJled in a newspaper of general circu- <br /> <br /> <br />lation in the district in one issue during the first week of January <br /> <br /> <br />following the audit. <br /> <br />There is a noticeable lack of financial information available <br /> <br /> <br />which becomes more pronounced as the size of the agency decreases. <br /> <br /> <br />Some Distribution Agencies operate essentially as an extension of the <br /> <br /> <br />Supply Agency system, with the Supply Agency doing the meter reading <br /> <br /> <br />and billing, making it unnecessary for the Distribution Agency to <br /> <br /> <br />maintain records. In other cases, again particularly for the smaller <br /> <br /> <br />agencies, the agency retains an accounting firm to do the billing and <br /> <br /> <br />make the necessary financial statements and audits. Some municipali- <br /> <br /> <br />ties and water and sanitation districts operate and account for water <br /> <br /> <br />and sewer systems as one fund and do not account for each system <br /> <br />41 <br />