Rancho Santa Fe water board approves Fiscal Year 2013 budget
The Santa Fe Irrigation District’s board of directors approved its fiscal year 2012-13 budget following a public hearing at the regular board meeting on June 21.
“This balanced budget demonstrates the district’s ongoing commitment to disciplined financial management and funding of improvements to the water system infrastructure,” said SFID General Manager Michael Bardin. “The district continues to make infrastructure investments, as called for in the District’s Asset Management Master Plan and in SFID’s 10-year Capital Improvement Projects Plan.”
For the upcoming year, expenditures are projected to be $29 million. This total includes $7.7 million for water purchases, $1.3 million for existing debt service payments and $6 million for capital improvement projects. The district anticipates that 40 percent of water needs for the coming year will be met with local water from Lake Hodges. Other than water purchase costs and funding for capital improvement projects, the operating budget does not increase.
“The district is taking a measured and prudent approach by prioritizing capital improvement projects that reduce the risk of more costly future repairs, and improve the efficiency of our operations.” Bardin said.
To view the adopted budget, visit the District’s website at www.sfidwater.org.
— Submitted release