Liquid News

IRWD Financial Planning Keeps Customer Rates Low

 

IRWD has a solid financial foundation to ensure its tradition of excellent service and low rates for our customers. A key element of this foundation is setting aside funds now to pay for future expenses related to refurbishing and replacing the District’s infrastructure assets. These are the assets that enable IRWD to provide, both now and in the future, a highly reliable and cost-effective water and sewer service to more than 330,000 residents of Orange County.

IRWD serves about one fifth of Orange County and has capital assets worth over $1 billion that include more than 1,900 miles of drinking water pipelines, more than 900 miles of sewer pipes, 53 reservoirs and two large water recycling facilities. This year alone, IRWD will invest over $110 million for new facilities and replacement of facilities that have reached the end of their useful lives. Looking out over the next 20 years, IRWD’s future capital infrastructure plan has more than 500 active and planned projects.

All of IRWD’s facilities, whether it be the groundwater wells, pump stations, or pipelines, will need to be repaired at some point and eventually replaced. To prepare for both short-term and long-term expenditures for these projects, IRWD has planned extensively for the infrastructure needs of our customers by designating $404 million in restricted funds in accordance with General Accepted Accounting Principles and the Government Accounting Standards Board.

For many years, IRWD has honored its commitment to protect our customers from unnecessary and costly increases in rates through sound business practices, both technical and financial. Proactive planning for the future provides IRWD customers today’s gold standard in service and reliability at the lowest possible cost.

 

Contact: Shannon Reed, Public Affairs Manager

reeds@irwd.com, (949) 453-5500

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