November 23, 2016
The Civic Federation supports the Metropolitan Water Reclamation District’s FY2017 Tentative budget of $1.13 billion because the District continues to demonstrate a sensible and proactive approach to meeting its financial challenges.
As mentioned in the full report, the FY2017 Tentative budget is 9.0% less than the FY2016 adjusted budget of $1.24 billion, which is due to the variance that often occurs between budget years, reflecting the District’s multi-year capital projects. The FY2017 budget also continues to maintain substantial reserves, a high level of liquidity and other safeguards to cover potential shortfalls without having to resort to short-term borrowing.
The Metropolitan Water Reclamation District’s Fiscal Year begins January 1, 2017 and ends December 31, 2017.