Budget & Finance

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Budget & Finance

Metropolitan maintains an annual operating budget of nearly $2 billion, ensuring that our vast water system runs smoothly and that we will meet Southern California’s water demands for generations to come.

We make forward-thinking investments in supplies, storage, conservation, and treatment, and we responsibly maintain our existing infrastructure. Together, these strategically important programs provide Metropolitan with the operational flexibility to store water when it is available and deliver it to our communities in dry years. Our water rates, which recover the cost of providing reliable water service to our member agencies, are established in an open and transparent public process as part of the biennial budget.

Our adopted biennial budget for fiscal years 2022/23 and 2023/24 as well as the adopted rates and charges for the calendar years 2023 and 2024 documents can be reviewed here.

Investor Relations

Issuing bonds helps to fund critical infrastructure investments that the regional economy depends on.  These include investments in a regional recycled water program, water quality improvements and clean energy upgrades.  Metropolitan is committed to maintaining our strong bond ratings and adheres to a policy of transparency with our investor community and general public.

Investing in Southern California  

The adopted budget for fiscal years 2022/23 and 2023/24 appropriates $4.4 billion, including $600 million in capital investments to address aging infrastructure, respond to drought, and comply with regulatory requirements. 

Among some of Metropolitan’s largest strategic investments in recent years:

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Pure Water Southern California

Pure Water Southern California, formerly known as Regional Recycled Water Program, will take cleaned wastewater and further purify it to produce a new, drought-proof source of high-quality water for Southern California.

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Conservation & Local Resources

Metropolitan has invested $1.5 billion in water conservation, recycled water and groundwater recovery since 1990.

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Storage

Metropolitan has developed more than 5.5 million acre-feet of storage capacity – a 13 times increase in capacity since 1990.

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Succession Planning

Metropolitan has an ongoing, dynamic effort to ensure the strongest possible future for Metropolitan by tapping the best talent, training employees, and developing leaders for the future.

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Effective January 1st 2022 2023

2024

Tier 1 Supply Rate($/AF) $243 $321 $332
Tier 2 Supply Rate($/AF) $285 $530 $531
System Access Rate ($/AF) $389 $368 $389

System Power Rate ($/AF)

$167 $166 $182
Full Service Untreated Volumic Cost ($/AF)      

Tier 1

$799 $855 $903
Tier 2 $841 $1,064 $1,102
Treatment Surcharge ($/AF) $344 $354 $353
Full Service Treated Volumic Cost ($/AF)      

Tier 1 

$1,143 $1,209 $1,256
Tier 2 $1,185 $1,418 $1,455
Readiness-to-Serve Charge ($M) $140 $154 $167
Capacity Charge ($/cfs) $12,200

$10,600

$11,200

 

Definitions

  • Tier 1 Supply Rate – recovers the cost of developing and maintaining a reliable water supply
  • Tier 2 Supply Rate – set at Metropolitan's cost of purchasing water transfers north of the Delta, this rate tier encourages the maintenance of existing local supplies and the development of cost-effective local supply resources and conservation
  • System Access Rate – recovers costs associated with the interconnected regional delivery network necessary to deliver water to meet member agencies' average annual demands. Included are the costs of conveyance and distribution facilities
  • System Power Rate – recovers Metropolitan's power costs for pumping supplies to Southern California
  • Treatment Surcharge – recovers the costs of treating imported water
  • Readiness-to-Serve Charge - a fixed charge that recovers the costs of providing emergency service and available capacity to meet outages, emergencies and hydrologic variability
  • Capacity Charge – recovers the cost of providing peaking capacity within the distribution system which Metropolitan owns or has the right to use

The proposed determination regarding the applicability of the MWD Act Section 124.5 tax limit is supported by the information found here.

Contacts

The Office of the Chief Financial Officer

Katano Kasaine 
Assistant General Manager/Chief Financial Officer
(213) 217-7121 

Treasury & Debt Management

Samuel L. Smalls
Manager of Treasury & Debt Management
(213) 217-7863

Budget
Controller
Revenue & Budget

Note: All information contained in the Financial Information pages is obtained from sources believed to be accurate and reliable. While all information presented is believed to be accurate and reliable, it is prepared without audit unless otherwise identified as audited financial information. Due to the possibility of human or mechanical error and other factors, this information is provided as is without warranty of any kind and MWD makes no representation, express or implied, as to the accuracy, reliability, completeness or timeliness of this information, and is not responsible for any loss or damage incurred by any party using this information. The information contained at this website has been included for general informational purposes only and no person should make any investment decision in reliance upon the information contained herein. This website and the information contained herein do not constitute an offer to sell or the solicitation of an offer to buy any securities.

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September 22 Quarterly BFS
Nov. 30, 2022
Statement
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Annual Financial Report 2021-2022: Basic Financial Statements
Nov. 22, 2022
Report
Finance
Treasurers Monthly Report October 2022
Nov. 15, 2022
Treasurers Monthly Report October 2022
Report
Finance
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Treasurers Monthly Report September 2022
Nov. 15, 2022
Treasurers Monthly Report September 2022
Single Audit Report 2020-2021
Nov. 9, 2022
Handbook
Finance
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FY 2022-2023 Rates Handbook
Oct. 27, 2022
Rate Structure Administrative Procedure Handbook FY 2022/23
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Finance
Treasurer's Monthly Report September 2022
Oct. 20, 2022
Treasurer's Monthly Report September 2022
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Quarterly Swap Report September 30, 2022
Oct. 7, 2022
Quarterly Swap Report September 30, 2022
Treasurer's Monthly Report August 2022
Sept. 23, 2022
Treasurer's Monthly Report August 2022