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Audit shows larger-than-expected FY 2024–25 surpluses; board warns delayed projects will raise future costs
Summary
District accountants reported sewer and water funds closed the year with surpluses—about $1.6M for sewer and ~$107k for water—driven by timing of CIP projects, unexpected ERAF receipt and investment returns; directors cautioned that delayed projects will increase future costs and asked staff for clearer public explanations.
District staff presented the fiscal year 06/30/2025 audit and a budget‑vs‑actual review showing better-than-expected results but highlighting timing and project risks.
Peter Medina, the district accountant, told the board the sewer fund had been budgeted for an operating surplus of $770,000 but closed near $1.6 million. He attributed the variance to an unbudgeted ERAF property-tax receipt, $387,000 of grant revenue that passed through netted to zero on expenses, lower-than-expected meter purchases, higher investment returns and…
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