To ensure equity among our customers, IRWD separates the cost of building water and sewer infrastructure from the cost of daily operations and maintenance. Infrastructure costs, called capital projects, are financed through general obligation bonds, the debt service for these is paid through a combination of property taxes and connection fees. Daily operation and maintenance costs, which are further separated between the water and sewer systems, are funded through monthly user rates. The fundamental principle behind these precise allocations of cost is that each end-user pays his fair share, no more and no less.
IRWD's monthly water rates have two components: a commodity rate set to recapture the variable cost of purchasing a combination of imported water and locally produced groundwater; and a service charge set to recover the fixed costs of maintaining our water distribution system. The monthly water charges for a typical residential customer using in the 15 ccf to 20 ccf range are among the lowest in Orange County (one ccf equals 748 gallons).
In the past decade, IRWD lowered sewer rates nine times, or a total of approximately 60 percent and currently has sewer rates that are among the lowest in the state. These rate reductions have been made possible by modifications in the sewage treatment process, energy saving measures, and efficient management.
Adopted Operating Budget - Fiscal Year Ending June 30, 2010
Consolidated Operating Budget - Fiscal Year Ending June 30, 2010
IRWD Rates and Charges
IRWD Comprehensive Annual Financial Report for Fiscal Year 2007/08
The IRWD Comprehensive Annual Financial Report (CAFR) is a document which contains a complete set of basic financial statements. It conforms to generally accepted accounting principles (GAAP) and audited in accordance with general accepted standards by a firm of licensed certified public accountants. Click here to download a copy of the 2007/08 CAFR.
IRWD Awards and Acknowledgments of Financial Excellence
The Government Finance Offices Association (GFOA) has awarded the Certificate of Achievement for Excellence in Financial Reporting to IRWD for its CAFR for the fiscal years 2003/04, 2004/05, 2005/06, 2006/07. The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal. Reports submitted to the CAFR program are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee (SRC), which comprises individuals with expertise in public-sector financial reporting and includes financial statement preparers, independent auditors, academics, and other finance professionals.
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