"Those costs have combined with significant negative forces that are out of our control - specifically extreme inflation that is driving up the cost of everything, including energy, steel, chemicals and other materials," she said. "The value of water reliability for our region has never been higher, but at the same time we must pay the bills as they come due. "Decades of board decisions to ensure water security for our region, including during this most recent dry period, have come at a cost," said Kerl. The board previously announced a planned withdrawal of nearly $35 million from the rate stabilization fund by July 2024 to provide ratepayer relief, but which will also "bring the fund to its lowest level in more than a decade." The fund was created in 1990 to avoid rate spikes - particularly those driven by reduced water sales following abnormally wet weather or mandatory cutbacks. The new rate is below initial forecasts due to efforts by the board to reduce expenditures, including spending on capital projects, the statement reads. "The headwinds were strong from the start, and they only got stronger over the past three months, with unexpectedly large energy bills driving up costs and the persistence of highly unusual wet weather that has depressed water sales." "This is the most challenging budget cycle I've seen in more than three decades of public service leadership," said Water Authority General Manager Sandra L.
Local libraries, San Diego Unified feeding minds and stomachs this summerĪccording to a board statement, after reviewing additional information, the Water Authority's Finance Planning Work Group recommended another approach - a rate increase of 9.5% that would meet the board's financial policies.
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