I am not an accountant. I do not speak their language. Trying to understand more, I turned to Google and YouTube. Do some research for yourself and perhaps you will feel as I do.
Our local water districts are governmental agencies and as such, are required to follow rules and regulations that private business do not, such as the Brown Act.
I requested a copy of the Pine Cove Water District’s Comprehensive Annual Financial Report and was told the information could be found on its website. What is provided there is the 2017 Annual Audit and not the CAFR, as required by the Governmental Accounting Standards Board. I could not find any mention of a CAFR. However, I did find mention of a report dated Sept. 29, 2017, from its accounting firm, which has not been added to the website.
The increases we will see will far outweigh the yearly inflation rate and actual operating costs. Looking at the pie chart on PCWD’s website. you will find the following:
• 53% of PCWD’s operating expenses are Administrative and General
• 15% Transmission and Distribution
• 1% Water Treatment
• 5% Source of Supply
• 8% pumping
• 18% Depreciation
What jumps out at you? In my opinion Administrative and General costs are way out of line, but as I said, I am not an accountant.
I am not happy with subsidizing area business and other entities with lower rates. If anyone deserves subsidizing, it should be those on low and/or fixed incomes.
Why must I pay more for my water, propane, electricity, etc., than a business? Why am I paying for someone to operate a business I have no interest in?
If we all paid equally for our usage, there would not be a need for anyone to pay more at this time.
Soon, those of you in Fern Valley and Idyllwild Water districts will be paying more as well.
Google or Youtube “CAFR” “Rim of the World School District” as a start.
Creative financing amazes and worries me. I need more than someone telling me to trust them and their accountants.
(Editor’s note: The TC has been unable to verify that the Governmental Accounting Standards Board requires that Pine Cove Water District produce or publish a Comprehensive Annual Financial Report, as this letter states. As always, the views of our columnists and letter writers are not necessarily the views of the Town Crier editors. The Town Crier welcomes views from all writers, including those in letters to the editor.)