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El Paso Water presents second-quarter 10% stormwater fund report; $5.63 million balance noted
Summary
El Paso Water reported a second-quarter balance of $5,631,118 in the 10% stormwater fund, detailed income and expenses for the quarter, and answered board questions about earmarked obligations and recent land payments.
Jonathan Persol, real-estate manager at El Paso Water, presented the second-quarter financial summary for the 10% stormwater preservation account and answered board questions about earmarking and outstanding obligations.
Persol reported that the beginning balance on June 1, 2025, was $4,504,200; the quarterly allocation to the 10% account was $1,111,099; interest earnings were $51,943; and expenses for the quarter totaled $36,124. "The revenue that is in the account as of August 31 is $5,631,118," Persol told the board.
Board members asked for more detail about committed obligations in the account (projects that have already been earmarked). Persol said he did not include project-level obligations on the slide but offered to include a project-by-project obligation list in the next quarterly presentation. When asked whether proceeds from sales of parcels placed in stormwater inventory automatically return to the 10% fund, Persol said that treatment of sale proceeds is handled on a case-by-case basis by El Paso Water leadership and is not automatic.
Persol confirmed that the previously discussed Lost Dog property payment has been completed and that current outstanding obligations include the MLK property transaction.
Ending: Persol agreed to provide a future slide listing outstanding obligations and earmarked funds so the board can see how much of the balance is available for new projects.
