2025-2026 Budget Plan (Amended April 1, 2025) [PDF]

During the 2023 budget year, the district successfully met challenges presented by the aftermath of COVID-19, continuing supply chain disruptions, the threat of continued drought on the Colorado River, and electric service restoration to hundreds of customers caused by three different storms experienced through the district's service territory. During 2023, the district continued to provide reliable water and electric services to all customers at reasonable rates.

The 2024 budget funds a number of programmatic priorities and essential capital programs that were deferred in 2023. The approved capital investment plan ensures increasing water efficiency and aligns with California's goals to improve air quality, increased transportation electrification, enhanced energy efficiency, increased renewable energy sources, and increased energy storage facilities.

With relatively flat revenues and rising expenditures, operational cash flow in both the Water and Energy Departments continue to be affected; therefore, budgeted expenditures have been tightened. The 2024 Water Department budget reflects the use of water transfer reserves for 2024 with a carryover of on-farm payments. The Energy Department's 2024 budget is balanced and includes issuing new bonds to fund deferred essential capital projects.

Providing reliable energy and water continues to be a priority for the district as both energy capacity and water resources become strained due to increases in demand. The district is proactive in considering alternatives to meet these demands while continuing to provide vital energy and water services at the lowest possible cost for its customers.

This budget has been prepared to assure that the district's bond covenants and board-­approved reserve levels are met. It includes debt coverage, other financial metrics and financing of major operational and support services capital projects and vehicle purchases. The budget is based on the goals, vision, and priorities set by the district's Board of Directors, with many stretching into the future. During this time, when we face a number of uncertainties, the district will continue to take every action necessary to make sure the district's finances and operations remain resilient.

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