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Fiscal Responsibility and EID

How Is EID doing?. Fiscal Responsibility and EID . EID Mission Statement. “We are a public agency dedicated to providing high quality water, wastewater treatment, recycled water, hydropower, and recreation services in an environmentally and fiscally responsible manner.”.

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Fiscal Responsibility and EID

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  1. How Is EID doing? Fiscal Responsibility and EID

  2. EID Mission Statement • “We are a public agency dedicated to providing high quality water, wastewater treatment, recycled water, hydropower, and recreation services in an environmentally and fiscally responsible manner.”

  3. Fiscal Responsibility and EID • Drought conservation status • Water rights threatened • $49 Ag vs. $829 residential water • No drought in EID spending • Next debt offering will increase rates 15% • It takes three!

  4. Drought conservation • We need to maintain vigilance -- Everybody needs to help conserve • That said: -- The weather is a big factor (heat/rain) -- EID is a big culprit/ 6,800+af leaks -- Measurement unfair to residential customers who conserved 18% prior -- Small farm $49 usage up 1,400 af

  5. Water rights threatened • State board trying to overturn legal rights • EID seeking litigation partners to protest if pre-1914 water rights abrogated • EID expects 17,000 af of new consumptive water rights that will aid carryover storage • EDWPA seeking 40,000 af of new water rights although 60% is for new rooftops and 40% is for Agriculture…highly speculative as to whether project will be successful

  6. $49 vs. $829 water • By CA law, rates must be cost-proportional • Yet: -- Agriculture and small farms pay $49 per acre foot of all outside water -- Residential ratepayers pay $829 per acre foot for most all outside irrigation -- Board split 2-3 as to acknowledging, much less addressing, this $49 vs. $829 rate differential

  7. No drought in spending • Every Management spending proposal brought to EID board this year has passed 3-2, 4-1 or 5-0 • June 9th meeting had $3 million of projects for a 100% cost-overrun bridge, vehicles, hydroelectric…all passed 3-2 • Each million dollars spent brings us closer to next debt offering and next 15% additional rate hike

  8. More debt = more rate hikes • One-third of rates go to pay for debt • EID General Manager planning $65 million new debt • $65 million new debt will require 15% more rate hikes (on top of rate hikes for increased salaries, benefits and other inflation)

  9. It takes three! • EID board has two fiscal conservatives putting interests of residential ratepayers first. • It takes three (of five) board directors to direct: - Less spending - Less new debt - Less rate subsidies to special interests - Less new rate hikes

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