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Lake Arrowhead CSD reports preliminary FY2024–25 results showing revenue gains and strong reserves
Summary
Finance Manager John O'Brien told the Board that preliminary FY2024–25 results show operating revenues up 6% year‑over‑year and fund balances increased by $4.4 million; expenses were higher than the prior year but 5% under budget. The District retains an AA+ credit rating and carries $14 million in bond debt from 2016.
The Lake Arrowhead Community Services District Board received preliminary Fiscal Year 2024–25 financial results on Aug. 26, 2025, with Finance Manager John O'Brien reporting operating revenues were 6% higher than the previous year and within 1% of the adopted budget.
O'Brien said operating expenses increased 8% compared with the prior year but remained about 5% under budget, attributing part of the expense increase to additional PFAS‑related water purchases. "Year‑end operating revenues were 6% higher than the previous year and are within 1% of the budget," O'Brien reported. He told the Board the District added $4.4 million to cash balances (an 8.3% increase) and that non‑operating revenues, including property tax and investment income, came in well above budget.
The report noted the District continues to carry $14 million in bond debt from a 2016 refinancing but maintains an AA+ credit rating. Pension obligations are reported as fully met. O'Brien also provided operational detail: Customer Service handled 5,287 calls in the latest quarter and the Metering Department responded to 313 suspected leaks, often within 24 hours.
The Board asked questions during the presentation; public comment was received but not summarized in the minutes. O'Brien told the Board the District's full audit and Annual Comprehensive Financial Report are in progress and expected to be finalized in October or November 2025.
