IRWD Receives Top Bond Ratings; Helps Keep Customer Rates Low
The Irvine Ranch Water District has received top bond ratings from Standard and Poor’s and Moody’s ratings firms, which allows the District to finance future capital improvement and infrastructure projects at low interest rates. Securing low interest rates for infrastructure projects allows IRWD to continue to provide its customers with high quality, reliable water supplies while keeping rates low and stable.
“We are very pleased with the confidence the rating agencies have indicated in IRWD,” said Debby Cherney, Director of Finance. “As a result, we were able to issue the bonds at historic low interest rates. This benefits our ratepayers by keeping their rates among the lowest in Orange County.”
Standard and Poor’s granted IRWD a AAA long-term rating for its $175 million taxable Build America Bond issue. Moody’s assigned an Aa1 rating to IRWD. Both firms cited IRWD’s strong financial performance and management, characterized by long-term capital planning, as a key component in IRWD securing favorable ratings.
Issuance of the bonds will help to finance a wide variety of projects over the next three years, including improvements to the Michelson Water Recycling Plant, biosolids treatment and disposal, water supply reliability projects, and the Natural Treatment System, which treats urban runoff.
Please visit the Finance section of IRWD website for more information about IRWD’s budget and financial planning.
IRWD Purchasing Team Wins Honors
The Irvine Ranch Water District has received the Achievement of Excellence in Procurement Award from the National Purchasing Institute for thetenth consecutive year. The award is given to organizations that score high in levels of innovation, professionalism, e-procurement, productivity and leadership attributes of the procurement function. Being efficient with time and money helps keep IRWD rates among the lowest in Orange County.
“Winning this prestigious award for a tenth year is thrilling,” said Alex Aguilar, IRWD Purchasing Manager. “It validates the fact that the District is dedicated to constantly improving how we do business and challenges us to continue to lead the industry with our efficient and effective purchasing practices.”
Whether it’s a water meter or a ream of paper, the IRWD Purchasing Department is ready to procure and manage thousands of items needed to keep the District up and running daily. Since IRWD provides drinking water, wastewater treatment, recycled water and urban runoff cleanup, the 10-member team needs to be knowledgeable in all aspects of the water business. Being prepared for quick access to the right products and services saves time and money. This award showcases IRWD’s success in maintaining a fine balance between having the right supply level so District resources aren’t tied up in excess inventory and making sure that materials don’t have the chance to become outdated.
The National Program to Benchmark Organizational Excellence in Procurement - In 1995, the National Purchasing Institute established a program designed to recognize organizational excellence in public procurement. The Achievement of Excellence in Procurement® (AEP) is awarded annually. This prestigious award is earned by those organizations that demonstrate excellence by obtaining a high score based on standardized criteria. The criteria are designed to measure innovation, professionalism, productivity, e-procurement, and leadership attributes of the procurement organization.
Companies/vendors with interest in doing business with IRWD can get prequalified on the District’s website or contact the IRWD Purchasing Department at (949) 453-5718 or purchasingdept@irwd.com
IRWD Comprehensive Annual Financial Report Released
Irvine Ranch Water District has posted online the 2010-2011 Comprehensive Annual Financial Report. “Timely and accurate reporting is crucial in making sound financial decisions, providing the transparency that rate payers expect and maximizing District resources.” said Debby Cherney, IRWD Director of Finance.
The IRWD CAFR offers a big-picture look at all aspects of the District’s operations, including the budgeting and planning process, discussion of the IRWD assets, and a host of statistical information. It goes into much more detail than a traditional annual report and highlights major projects and initiatives in addition to financial data.
The CAFR has been the choice of public agencies since it was established in 1945 by the Government Finance Officers Association. IRWD has earned the prestigious Certificate of Achievement for Excellence for the past seven years. The award recognizes governments whose CAFRs achieve the highest standards in government accounting and financial reporting.
To download the CAFR or learn more about IRWD prudent financial planning, please visit the IRWD website.
Water Mainline Leak in Orange Park Acres
This morning at 10, IRWD crews responded to a leak on Amapola Street in Orange Park Acres. They discovered that the eight-inch riveted steel pipe on Amapola was leaking. Customers on Amapola Street between Orange Park Boulevard and Ranchwood are out of water. Customers may expect to have their water service restored this evening. For more information, please call IRWD at (949) 453-5300.
Water Service Restored in Orange Park Acres
As of 7 p.m. on Wednesday, Jan. 19, water service was restored to Irvine Ranch Water District customers on Amapola Street between Orange Park Boulevard and Ranchwood in Orange Park Acres. IRWD thanks our customers for your patience while this repair was taking place.
Customers can learn more about current and planned water system improvements in the OPA area by visiting the IRWD website.
