San Diego ratepayers will pay nearly $23 million to the Metropolitan Water District of Southern California (MWD) this year to help fund local conservation and water supply development projects like seawater desalination, groundwater and recycled water – more money than any other water district in Southern California.
Category Archives: Budget & Rates
Water Authority Receives GFOA 2010 Excellence in Financial Reporting Award
The San Diego County Water Authority has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA) for its Fiscal Year 2010 Comprehensive Annual Financial Report (CAFR). This is the 11th consecutive year that the Water Authority has received the certificate, which is considered the highest form of recognition in governmental accounting and financial reporting.
Water Authority Approves $1.42 Billion Budget for Fiscal Years 2012 and 2013
The San Diego County Water Authority Board of Directors today approved a $1.42 billion budget to fund water purchases, capital expenditures, debt service and operating expenses from July 1, 2011 through June 30, 2013.
Water Authority Executes $86.63 Million Subordinate Lien Bond Sale
The San Diego County Water Authority today successfully completed bond sales of $86.63 million as part of its strategy to diversify its debt portfolio and reduce the rate volatility and cost of financing vital water supply reliability projects.
The sale, Subordinate Lien Water Revenue Refunding Bonds Series 2011S-1, refinanced $100 million of outstanding variable rate debt with five-year, fixed-rate bonds. The bonds locked in an interest rate of 1.48 percent.
Water Authority Defers Three Additional Capital Projects Until July 2014
In response to lowered short-term water demand forecasts, the San Diego County Water Authority Board of Directors has deferred three capital projects totaling $68 million until at least July 2014. Thursday’s Board action, combined with 11 projects deferred in January 2011, postpones $150 million in capital expenditures and is projected to reduce wholesale rate increases from capital projects by $17 to $22 per acre-foot during the deferral period.
Water Talks: Community Forum on Water Issues
As a part of California’s Water Awareness Month, the San Diego County Water Authority is inviting residents around the county to learn more about and discuss the region’s water supply and on-going efforts to ensure future water reliability.
A community forum will take place Tuesday, May 31, from 5 p.m. – 7 p.m., at the Water Authority’s Kearny Mesa headquarters, located at 4677 Overland Avenue.
Adoption of Illegal MWD Rates Forces Fourth Water Authority Lawsuit
The San Diego County Water Authority today filed its fourth lawsuit against the Los Angeles-based Metropolitan Water District of Southern California, alleging that MWD’s newly adopted rates for 2017 and 2018 violate California law, the state Constitution and common law that all require rates to be set based upon cost of service.
Final Judgment in Rate Case Secures Landmark Water Authority Victories
A final judgment entered in San Francisco Superior Court late Wednesday affirms victories by the San Diego County Water Authority in both phases of two landmark lawsuits challenging rates set by the Metropolitan Water District of Southern California.
Water Authority Adopts $1.5 Billion Budget for Fiscal Years 2016 and 2017
The San Diego County Water Authority’s Board of Directors today adopted a $1.5 billion budget for fiscal years 2016 and 2017, up 2 percent from the current two-year budget due largely to higher costs for the purchase and treatment of water. The Board also adopted rate increases for 2016 of 6.6 percent for untreated water and 5.4 percent for treated water; actual increases will vary among the Water Authority’s 24 member agencies based on differing circumstances among the agencies.
Final Ruling: Water Authority Owed $188.3 Million Plus Interest in Rate Case Victory
A San Francisco Superior Court judge today issued a final decision that says the Metropolitan Water District of Southern California must pay the San Diego County Water Authority $188.3 million plus interest for illegal water rates MWD charged from 2011 to 2014. Judge Curtis E.A.