Inflation, operating costs to impact consumers
AUBURN, Calif. – At its October 17 meeting, the Placer County Water Agency (PCWA) Board of Directors adopted the Agency’s 2020 budget. The combined budget totals $105 million.
PCWA’s budget is comprised of three divisions: water, power, and agency-wide. In 2020, the operating budget for water totals $42 million, while the operating budget for agency-wide totals $3.2 million. The power division, funded through appropriation from the Middle Fork Project Finance Authority, totals $27.8 million in operating costs. In addition to the operating budgets, the 2020 budget also allocates just over $31 million to capital improvement projects, which includes $6.7 million for capital-related debt service.
“Development of the budget is an interactive, multi-step team effort,” said Director of Financial Services, Joe Parker. “I want to thank the entire Agency for participation in that process, especially the finance personnel who worked tirelessly to finalize a lean budget for 2020.”
In a related action, the Board also approved a rate adjustment to take effect January 1, 2020. Rate components will increase 2.9 percent, in line with the increased Agency operating costs, and the Consumer Prices Index. The change is part of a multiyear adjustment approved by the Board of Directors in 2017.
The next regular meeting of the PCWA Board of Directors will be held on Thursday, November 7, 2:00 PM at the PCWA Business Center, 144 Ferguson Road, in Auburn. PCWA board meetings are open to the public.
For information on PCWA board meetings, please contact the Clerk to the Board at (530) 823-4850 or (800) 464-0030.