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IID to hold final workshop on budget

December 01, 2001|By RUDY YNIGUEZ

Staff Writer

The Imperial Irrigation District will hold a final public workshop on its 2002 budget and two public hearings on proposed changes to the energy cost adjustment rate.

The budget workshop is at 3 p.m. Monday in the William R. Condit Auditorium, 1285 Broadway, El Centro.

The power department's overall 2002 budget is projected at $294.7 million in revenues and $294.3 million in expenditures. For 2001, budgeted revenues were $356.1 million with budgeted expenses of $355.9 million, while actual revenues were $281.7 million and expenditures were $281.7 million.

For 2002, the department projects power sales of 2.8 billion kilowatt-hours; for 2003, 2.85 billion and for 2004, 2.9 billion. Revenues from power sales alone, for 2002 are estimated at $247.8 million; 2003, $252.7 million and 2004, $257.8 million.

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For 2002, the water projects total revenues at $77.6 million and total expenditures at $77.5 million. For fiscal 2003, the 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.

The first ECA hearing follows the budget workshop, at 5 p.m.

The ECA reflects the fluctuation between the budgeted cost of fuel and purchased power and the actual costs as they are determined.

The current rate has been in effect since Aug. 1, 1984, according to an IID press release. The rate includes fuel and energy costs as well as long-term purchased power contracts, debt services associated with a joint powers authority project and fixed-price transmission charges.

The proposed change would transfer the fixed, or less volatile, costs to the base rate. The ECA would fluctuate only for the volatile costs, such as fuel and the energy portion of purchased power. Another change would be the creation of a power resources cost recovery account that would accumulate net revenue from the sale of wholesale electric energy to other entities. The PRCRA would be used to fund operations, maintenance and capital costs. The PRCRA could also be used to offset unexpected spikes in the cost of energy, the press release says.

The second ECA hearing is at 5 p.m. Tuesday, following the regular IID board meeting, at the district's La Quinta boardroom, 81-600 Ave. 58.

Details of the proposed changes will be presented at the public hearings.

>> Staff Writer Rudy Yniguez can be reached at 337-3440.

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