Water Authority to refund $7.159 million to member agencies
April 03, 2002
The San Diego County Water Authority board of directors has voted to refund $7.159 million in water sales revenues to…
The San Diego County Water Authority board of directors has voted to refund $7.159 million in water sales revenues to its member agencies. The checks are scheduled to be issued on April 12, 2002, according to James F. Turner, chairman of the board.
The money will be refunded to the Authority’s member agencies based on the Authority’s net water sales receipts per member agency for the period in which the revenues were collected.
“The Board determined this was a fair and equitable approach for allowing the member agencies to share in the water sales revenues,” said Turner.
The greater-than-budgeted revenues are a result of several factors, including having greater water sales than projected, due to a combination of low precipitation and warm weather.
In Fiscal Year 1999-2000, the Water Authority board authorized a similar return of $6.3 million to its member agencies.
The San Diego County Water Authority is a public agency serving the San Diego region as a wholesale supplier of water from Northern California and the Colorado River. The Water Authority works through its 23 member agencies to provide a safe, reliable water supply to almost three million county residents.
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