(1) The commission shall keep an account of the time spent by all employees, and each item of expense incurred in connection with any water district, and shall charge such account to the district for which the expense was incurred. Where the time or work is upon more than one (1) district at the same time, it shall be apportioned between the districts. In the event any compensation fixed by the commission for any employee is on a salary basis, such salary shall be equitably apportioned between the districts by the commission.
(2) The commission shall be required to prepare and make available, to the consumers of the water supplied by any water district, an annual statement of receipts and disbursements; and any floating or bonded indebtedness. This report shall show the cost of water, material, labor, other salaries and any other expenses incidental to the operation and maintenance.
(3) All books of the commission shall be open for public inspection during normal business hours.