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facility can continue to perform the function for which it was designed. 23.3.1.3 Fixed operating costs are a function of the facilities con- .- structed and allocations shall be based on each Member Agency's joint-use PWWF capacity rights and include all operation and maintenance costs except for variable costs. _ --- 23.3.1.4 Variable operating costs are a function of actual flows dis- charged to LAVWMA and include costs of chemicals and power. Variable costs shall be allocated to each Member Agency based on estimated flows. 23.3.2 At the end of each fiscal year and after approval of an audit, cash advances based on estimates of the preceding year shall be recon- ciled with actual costs and actual flows. Surpluses shall be reimbursed to the Member Agencies by LAVWMA and deficits shall cause an additional cash advance to LAVWMA by the Member Agency[ies]. In the event of incomplete or inaccurate records by a Member Agency, the total effluent flow shall be determined by a majority of the Technical Advisory Committee. 23.4 The treasurer shall present periodically to LAVWMA a financial report accounting for all monies received and disbursed for the fiscal year. 23.5 The treasurer shall be the depository and custodian of all Agency funds. The auditor shall perform the functions and duties set forth in Sections 6505 and 6505.5 of the Government Code. Any interest earned by Agency funds (directed by the Board to be deposited in an interest bear- ing account or securities) shall belong to LAVWMA. 23.6 The treasurer is designated as property custodian of LAVWMA. 23.7 Every officer or employee of LAVWMA authorized to receive, account for, or to expend any funds shall each file a bond in an amount to be determined by the Board. This requirement may be met by one or more blanket bonds or by insurance provided in accordance with paragraph 10.3. The cost of said bond or insurance shall be paid by LAVWMA. 23.8 Accounting Procedures. Full books and accounts shall be maintained for LAVWMA in accordance with practices established by, or consistent with, those utilized by the Controller of the State of California for like public entities under Section 26909 of the Government Code. In particu- lar, LAVWMA's auditor and treasurer shall comply strictly with the requirements of the statute governing joint powers agencies, Govern- ment Code Sections 6500 et seq. LAVWMA/JPA/FINAL -15- July 21, 1997