13.05.240 Indirect costs.
Indirect costs will be allocated to the various capital improvements projects based on a reasonable formula developed by the borough engineer. The formula as developed will be approved by the manager and implemented by the finance director. Indirect costs so allocated will be posted to the accounting system of the project not less frequently than quarterly (monthly preferred).
A. Projects Under Construction. Indirect cost allocation for projects under construction will be by a reconcilable formula developed by the borough engineer, approved by the manager and implemented by the finance director.
B. Completed Projects. Completed projects are closed out from the capital improvements fund and are capitalized into the respective utility fund. Thereafter the services provided by the general fund water and sewer type funds will be accomplished on a reimbursable basis. This will be through a reasonable allocation process developed and implemented by the finance director after approval by the manager. [Ord. 98-19 §2, 1998; Ord. 86-4-O . Formerly §13.01.199].