Budget/Finance

Print
Press Enter to show all options, press Tab go to next option

iStock_000023474973Large[1]-paind 11-7 -annual reportThe Finance Department consists of Customer Service, Meter Reading, Purchasing, Warehouse and Accounting. The Finance Department accounts for all revenues and expenses of the District. The department is responsible for: facilities maintenance and improvements, financial reporting and recommendations for the equitable establishment of rates and charges, annual financial audit, annual operating budget and annual capital improvements budget.

Operated as its own efficient business, funds from ratepayers go directly to furthering the District’s goal of providing exceptional and sustainable water and wastewater services. The District does not operate for profit, so rates are set so water and sewer customers pay according to usage, new development pays for expanded facilities, and existing customers pay for the maintenance and replacement of existing facilities.

For more than 60 years, the Vallecitos Water District has built an organization focused on service reliability – through an established foundation based on careful financial planning. As a result, our credit rating has been reaffirmed by Fitch Ratings at a "AA+" and upgraded by Standard and Poor's from a "AA" to "AA+" rating in 2015.  Both rating agencies gave Vallecitos a “stable” outlook for the foreseeable future.  Click here for more information. 

Fiscal Year 2016-17 Approved Budget
Fiscal Year 2015-16 Approved Budget 
Fiscal Year 2014-15 Approved Budget
Fiscal Year 2013-14 Approved Budget
Fiscal Year 2012-13 Approved Budget  
Fiscal Year 2011-12 Approved Budget 
      
Introduction section
      
Operating section 
      
Capital section
      
Long-Range Planning section

Financial Statement for June 30, 2016, and preceding fiscal years ending June 30, 2005 through 2015

The financial statements of the Vallecitos Water District as of and for the fiscal year ending June 30, 2016, have been audited by the independent auditing firm of Rodgers, Anderson, Malody & Scott LLP. Rodgers, Anderson, Malody & Scott LLP provided an unmodified opinion on the financial position, results of operations, and cash flows of the District.

Previous to fiscal year ending June 30, 2015, The financial statements of the Vallecitos Water District were audited and provided an unqualified opinion on the financial position, results of operations and cash flows of the District by:

  • White, Nelson, Diehl, Evans & Company for fiscal year ending June 30, 2014, 2013, 2012 & 2011
  • Diehl, Evans & Company for fiscal year ending June 30, 2010
  • Charles Z. Fedak & Company for fiscal years ending June 30, 2009, 2008, 2007, 2006 and 2005

Financial Statement for June 30, 2016
Financial Statement for June 30, 2015
Financial Statement for June 30, 2014
Financial Statement for June 30, 2013
Financial Statement for June 30, 2012     
Financial Statement for June 30, 2011      
Financial Statement for June 30, 2010    
Financial Statement for June 30, 2009
Financial Statement for June 30, 2008       
Financial Statement for June 30, 2007    
Financial Statement for June 30, 2006     
Financial Statement for June 30, 2005

Investment Policy for Calendar Year 2017. Vallecitos Water District funds not required for immediate expenditure will be invested in compliance with this policy and the provisions of California Government Code Sections 53600 et seq. Criteria for selecting investments and the absolute order of priority are safety, liquidity, and yield.

Reserve Policy Statement.  The Board of Directors recognizes a need to reserve funds for unanticipated, unforeseeable, and planned repair and replacement of water and wastewater system equipment and infrastructure.

Cost of Service and Rate Structure StudyVallecitos staff has completed a draft Cost of Service and Rate Structure Study for consideration in setting water rates necessary to recover costs required to provide water, and operate and maintain the District’s water system and infrastructure.

Official Statement for 2015 Bond Refinancing. Historically low rates for tax-exempt municipal bonds and strong credit ratings enabled Vallecitos to successfully refinance $45.4 million of its bond debt to lower interest rates, saving $3.47 million dollars. View press release.

Citizen Centric Report.  Looking to improve communication between local government and its citizens, Cal State San Marcos accounting student Ryan Strausbaugh created an easy-to-read report for the Vallecitos Water District's customers. The four-page document details interesting facts and financial statements about the District's water services, and follows the standards of the Association of Governmental Accountants.

Free viewers are required for some of the attached documents.
They can be downloaded by clicking on the icons below.

Acrobat Reader Flash Player QuickTime Windows Media Player Microsoft Silverlight Word Viewer Excel Viewer PowerPoint Viewer