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Glendale utility reports strong cash reserves, flags future water rate work
Summary
Finance staff told the commission that electric and water reserves exceeded policy targets at fiscal‑year end and that a water cost‑of‑service analysis will be completed to address an anticipated reserve shortfall by FY25‑26.
Glendale Water and Power staff reported January 22 that both electric and water funds ended fiscal 2023–24 with cash reserves well above policy targets, but managers said they have planned analyses and rate work to address future capital needs.
Why it matters: commissioners pressed staff to explain how high reserves, upcoming rate increases and capital projects interact so the public understands why rates may rise even as reserves appear large.
Adriana Essayen, assistant…
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