Financial planning keeps customer rates low

Irvine Ranch Water District has a history of strategic forecasting in everything we do.

Since our formation more than 60 years ago, we’ve anticipated and met the water and sewer infrastructure needs of our service area. 

We have done the same for our fiscal planning — building  a solid financial foundation to ensure our history of excellent service and low rates for our customers continues long into the future.  As a result, our rates are among the lowest in Orange County.

A key element of this foundation is setting aside funds now to pay for future expenses related to refurbishing and replacing approximately $2 billion worth of pipelines, treatment plants and other infrastructure we own and operate to serve water and sewer service to more than 445,000 residents and a daytime population of over 600,000.

All of IRWD’s facilities, whether it be the groundwater wells, pump stations or water tanks, 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  set aside $394 million in restricted funds to be used for these infrastructure needs in accordance with General Accepted Accounting Principles and the Government Accounting Standards Board. 

Like saving money for a new car or to replace an aging roof, IRWD is saving now so our customers will not see a large rate increase when these repairs and replacements are needed.

For many decades, 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.