The administrator of the fund shall establish a schedule of reasonable rental rates and other charges to be paid by users of the fund’s equipment, materials and supplies, which shall take into consideration the costs and expenses of the following: operating supplies, maintenance expenses, insurance, depreciation, and other direct cost items; operational costs of the fund (overhead); a contingency for the purpose of additional equipment and replacement of old equipment, including shop and administrative equipment; and such other items as may be reasonable or necessary in the proper operation of the fund. The schedule shall be submitted to the City Council for its approval and adoption and shall be reviewed and updated as necessary to reflect changes in operating, maintenance and depreciation costs. (Ord. 398 § 7, 1966).