Do you have split meters or a single water meter? If you only have one water meter then you are paying for both water and sewer when you irrigate. Sewer rates are typically as high or higher than water rates. If you don't have a split meter check with your city to see if they allow split metering. It could cut your irrigation costs in half.
In terms of how much to water, the general rule of thumb is 1 inch/week. Don't fall into the trap of over watering. Depending on the size of the zone, the type of heads and number of heads, your run times will very by zone. If you don't know the run times for your zones to get an inch of water, then use a rain gauge and time how long it takes to collect an inch.
The typical watering schedule would be 3 times/week. You want the grass to dry out between waterings. Set your schedule to run 3 times/week and run times to be 1/3 the total time it takes to get an inch. If you don't have a rain sensor connected to your controller, invest in one. It will prevent you from watering after a rain shower.
Also you should look at adjusting your run times through out the season depending on the weather. Right now I'm running at 60% because of the cooler temps. In August, I typically run at 120%. In Sept. I will drop back to 100% or less depending on temps.