http://mwdfacts.com/wp-content/uploads/mwdsc-header-enfold.png 0 0 SDCWA http://mwdfacts.com/wp-content/uploads/mwdsc-header-enfold.png SDCWA2017-03-02 17:03:502017-08-16 09:07:37$1.2 Billion in Unbudgeted Spending at MWD ... and More
- Over the last five years (from 2012-2016), MWD’s cumulative annual budgets totaled approximately $8 billion.
- During this same period, MWD collected $847 million more than this amount. MWD says this “over collection” had no impact on rates.
- Yet water rates have risen from $775 an acre/foot in 2012 to $950 in 2016 and will be over
$1,000 by 2018.
- MWD’s claim is that they could spend hundreds of millions of dollars without impacting water rates.
- In fact, MWD’s treated water rate has increased an average of 4.5% annually since 2011.
- Worse, MWD proceeded to spend all this money and more — $1.2 billion over their budgeted expenses (from 2012-2016).
- This then forced them to borrow $900 million in new unplanned debt last year.
- Here are the facts behind the numbers where you can learn more about this issue and read the data for yourself: www.mwdfacts.com/behind-the-numbers.
Click here to read the letter.