Orange County Watchdog reports on millions flowing into MWD’s coffers

The Orange County Register recently reported on the Metropolitan Water District’s overcharges, highlighting some of the agency’s poor fiscal management practices.

 “Bathers, swillers and gardeners in Los Angeles will pay $66.68 million more than they should this year, according to San Diego’s calculations,” said the article. “Those who hydrate through the Municipal Water District of Orange County will pay $38.17 million more than they should. Customers of the Inland Empire Utilities Agency will pay $7.84 million more; Long Beach, $6.23 million; Glendale, $3.85 million; Anaheim: $3.55 million; Santa Ana, $2.12 million; Fullerton: $1.9 million; and, well, you get the picture.”

 The story quoted the Water Authority’s assistant general manager, Dennis Cushman. “Metropolitan is awash in cash,” he told the Register. “Over the past 21 months, Metropolitan has over-collected $600 million. They’ve blown the roof off of their cash reserve fund – it will be $800 million by the end of this year – and plan to spend the money on items they didn’t budget for, rather than providing relief for their ratepayers.”

 Continued the Register’s narrative: “Money certainly is pouring into Metropolitan’s coffers. On top of the fact that Met has raised water rates annually, the current drought means that Met is selling more water than it expected (as less is being pumped from the ground). Operating revenues are expected to be about $1.7 billion this year, up from $1.5 billion last year, up from $1.3 billion the year before, and up from $1.2 billion the year before that.”

 

Read the rest of the story at http://www.ocregister.com/taxdollars/water-606064-million-met.html.