Under current projections, the Imperial Irrigation District's water department should end the next fiscal year with a $100,000 reserve, according to information presented by the district Thursday at a public workshop to discuss the department's budget.
The district has projected total revenues at $77.6 million and total expenditures at $77.5 million. The department's sources of income include water sales, the water availability charge, the All-American Canal, proceeds from certificates of participation and other funding sources and revenues.
Expenditures include labor and benefits, materials, contract services, debt service and other operating expenditures.
For the current fiscal year, the water department had budgeted revenues and funding at $74.3 million with budgeted expenses of $74.3 million. The actual budget ended up at $75.3 million and expenditures at $71.5 million.
IID Chief Financial Officer/Controller Kris Fontaine said the district ended up selling about $1.8 million more in water than budgeted.
For fiscal 2003, the water department has a projected budget of $75.5 million and expenditures of $75.1 million. For 2004, the budget is projected at $71.1 million and expenditures of $76.1 million.