(1) All funds derived from a particular type of systems development charge are to be segregated by accounting practices from all other funds of the city. That portion of the systems development charge calculated and collected on account of a specific facility system shall be used for no purpose other than those set forth in section 6 of this ordinance.

(2) The City Manager shall provide the city council with an annual accounting, based on the city’s fiscal year, for systems development charges showing the total amount of systems development charge revenues collected for each type of facility and the projects funded from each account.