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El Paso Water outlines fourth‑quarter 10% drainage fund figures, notes $3 million MLK payment
Summary
El Paso Water presented its FY2025–26 fourth‑quarter report for the 10% drainage utility fee fund: starting balance $6,765,540, fourth‑quarter allocation $1,111,212, interest $65,660, MLK payment $3,000,000, ending balance $4,906,288; staff said additional MLK payments of $2,000,000 annually are expected for the next three years.
Jonathan Purcell, real estate manager for El Paso Water, presented the fourth‑quarter fiscal figures for the 10% drainage utility fee fund (December through February reporting period).
Purcell reported a balance as of Dec. 1 of $6,765,540; a fourth‑quarter allocation of $1,111,212; interest earnings during the quarter of $65,660; and expenses that included a $36,124 PNI and a $3,000,000 payment labeled "MLK open space payment." He said the fund balance as of Feb. 28 was $4,906,288.
When board members asked about future MLK payments, Purcell said the plan is for $2,000,000 payments for the next three years (totaling $6,000,000) and that he would provide a more detailed slide on projections at the next quarterly report. A board member restated figures they believed they heard; Purcell clarified the schedule and offered to provide a slide with a year‑by‑year breakdown at the next presentation.
Board members used the item to request additional context on how the drainage fund affects open‑space acquisitions and the forthcoming priority list discussion.
