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El Paso Water reports $6.8 million in stormwater fund after Q3; board asks where $420,000 sale will come from
Summary
El Paso Water presented the third-quarter report for the 10% stormwater fund, reporting a $6,765,540 balance and answering board questions about a $420,000 land transfer to the State Park and planned future property expenses. Staff said they will confirm funding sources by email.
El Paso Water real estate manager Jonathan Versal/Persol presented the third-quarter financial report for the 10% stormwater fund and answered board questions about recent and upcoming property transactions. "The balance as of 09/01/2025 was 5,631,118," he said, and added the quarter's allocation from the utility fee was $1,110,621, interest earnings were $59,924 and expenses totaled $36,124, leaving a balance of $6,765,540 as of Nov. 30, 2025.
Board members asked about a $420,000 purchase tied to a January 20 public hearing on transferring Northeast land to the State Park. One member asked, "Where is that $420,000? Is that coming back into this 10% fee?" Versal/Persol said he believes it is, but he would "get you a more definitive answer" and will send the information to Kevin Smith to distribute to the board.
Members also asked whether the stormwater fund will continue to pay for the property after the transfer. Versal/Persol said it is the intention "of paying the amount that was due off" and that additional details would appear in the next report. He told the board he would provide a breakdown of remaining obligations and future expenses, including a previously identified $2,000,000 payment toward one property this fiscal year.
The presentation closed with board direction to receive the written detail by email and to revisit the subject at a future quarterly meeting. No formal action was taken on the fund during this session.
