Finance Center

IRWD Financial Information

Despite the economic downturn, IRWD finds itself in a strong financial position. This did not happen by accident, but through careful fiscal planning over the course of many years. IRWD uses a long-range planning approach that is similar to a family who regularly puts money aside over time to pay for the eventual cost of their children’s college education. By planning for the future, it's not necessary to dramatically increase customer rates to pay for new infrastructure (pipes, pumps, reservoirs, etc.) or for the inevitable repair and the replacement of these types of facilities as they begin to age.

 Public Input and Review


Rates and charges at IRWD are reviewed and set annually by the IRWD Board of Directors at an open public meeting. After projecting the expected revenues and expenses for the upcoming fiscal year, staff prepares a draft budget for review and comment by the IRWD Board of Directors. Over a three month period, this budget is discussed and revised in a series of public meetings with the IRWD Board of Directors. These meetings are open to the public and participation is encouraged. As the budget is being developed, staff will also develop recommendations for changes in rates and charges for services provided to our customers.Any changes in the rates and charges are typically adopted by the Board in late June and become effective July 1.

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 Comprensive Annual Financial Report - CAFR

 
Public agencies such as IRWD do not issue a traditional annual report, but rather a much fuller report called a Comprehensive Annual Financial Report or CAFR. The report highlights major projects and initiatives in addition to financial data. The CAFR has been the annual financial report of choice for public agencies since it was established in 1945 by the Government Finance Officers Association.Reports submitted to the CAFR program are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee (SRC), which is comprised of individuals with expertise in public-sector financial reporting and includes financial statement preparers, independent auditors, academics, and other finance professionals.IRWD's CAFR has earned the prestigious Certificate of Achievement for Excellence in each year a CAFR was prepared. This award recognizes governments whose CAFRs acheive the highest standards in government accounting and financial reporting.  Please click on the following to view or download a specific CAFR:

2013 CAFR   2012 CAFR    2011 CAFR    2010 CAFR    2009 CAFR    2008 CAFR

 Operating Budget
 Capital Budget


Each year the IRWD Board of Directors approves an annual operating budget at a public meeting for the fiscal year which runs from July 1st through June 30th of each year. The IRWD Operating Budget provides the financial plan required to implement the District's workplan for the year.

FY 2013/14 Operating Budget

FY 2012/13 Operating Budget

FY 2011/12 Operating Budget

FY 2010/11 Operating Budget

FY 2009/10 Operating Budget


In addition to the operating budget, IRWD has a workplan for new and replacement infrastructure projects. This workplan is funded by the Capital budget. Our capital program includes more than 500 active and planned projects with expenditures totaling more than $800 million over the next 30 years.

 FY 2013/14 Capital Budget

Finance Contacts


Executive Director of Finance and Administration:
Director of Risk Management and Treasury:
Telephone:                                                                 
Press Inquiries:                                                         


Cheryl Clary
Robert Jacobson
949-453-5300
949-453-5500

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