WATER/SEWER FUND RATE STABILIZATION RESERVE

Wilmington City Code ch. 2, art. VI, div. 5

in effect

Wilmington City Code § 2-391 Established.

Sec. 2-391. - Established. There is hereby created a water/sewer fund rate stabilization reserve within the water/sewer fund. The reserve is to be recorded separately in the water/sewer net position. The purpose of the reserve is to provide future rate stabilization for the water/sewer fund. (Ord. No. 18-045, § 4, 10-4-18; Ord. No. 22-038, § 4, 9-15-22, eff. 6-30-22)

Wilmington City Code § 2-391.1 Funding.

Sec. 2-391.1. - Funding. The water/sewer fund rate stabilization reserve shall be the net unrestricted water/sewer net position, after determining the net investment in capital assets and other restricted obligations and funding of the water/sewer operation and maintenance reserve, as determined by the fiscal year-end comprehensive annual financial report. (Ord. No. 18-045, § 4, 10-4-18; Ord. No. 22-038, § 4, 9-15-22, eff. 6-30-22)

Wilmington City Code § 2-391.2 Appropriations.

Sec. 2-391.2. - Appropriations. (a) Appropriations. Appropriations may be made from the water/sewer fund rate stabilization reserve as necessary in order to pay city water/sewer obligations and limit the need to increase water/sewer rates when authorized by city council by ordinance. (b) Exemptions. For purposes of this section, the term "appropriations" shall not include the following: (1) Pension liability and related expense adjustments; (2) Debt principal payments; (3) The annual true-up provided for in the agreement between the city and county concerning wastewater treatment; and (4) Reductions in net position due to changes in net investments in capital assets. (Ord. No. 18-045, § 4, 10-4-18; Ord. No. 22-038, § 4, 9-15-22, eff. 6-30-22)

Source: City of Wilmington, Delaware, City Code, City Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/de/wilmington/codes/code_of_ordinances?nodeId=PTIIWICO_CH2AD_ARTVIFI_DIV5WASEFURASTREFetched: 11/6/2026