Here is the board package link for our Helix Water District Board Meeting:
REGULAR MEETING OF THE BOARD OF DIRECTORS
Wednesday, October 17, 5pm
7811 University Avenue, La Mesa, CA 91942-0427
Interesting Agenda Items:
Item 6 (Page 77). The Board Receive the Audited Annual Financial Statements and Independent Auditor's Report for the Fiscal Year Ended June 30, 2018 (with Comparative Information for 2017)
- The Audit Committee – Deana Verbeke and Dan McMillan have been meeting with the auditor and will give their report along with the Auditor at the meeting.
- No deficiencies were found – this is the first audit with our new billing system.
- Page 90 gives an overview of the financial highlights compared to the year before.
- Page 95 The audit now includes the pension and OPEB liabilities. The district has recorded a net pension liability of$43.5 million and a $28.6 million net OPEB liability. These balances represent the differences between the plans total pension and OPEB liabilities and fiduciary net positions. The district's funded status for its pension and OPEB plans as of the most recent valuations at June 30, 2017 were 67 percent and 30 percent, respectively. It is important to highlight that these are not new liabilities for the district and every employer with a qualifying pension and/or OPEB plan will record these liabilities on their balance sheets.
- The difference (operating revenue reduction) between 2018 and 2017 is due to the wet year we had in 2017.
Find more information on these events on our the links below or www.hwd.com.
- 10/20/18 WaterSmart Landscape Makeover Series @ OC, first of four class series which runs every Saturday through November 10.
- 11/03/18 Autumn Fest and Plant Sale @ The Water Conservation Garden, 10am - 3pm
- 11/07/18 WaterSmart Landscape Workshop for Homeowners @ OC, 6pm - 9pm
As always, I welcome your comments and feedback.
Blog is on my website of past meetings & comments…check it out!
Please feel free to forward this email.
Kathleen Coates Hedberg, PE, MPH
President, Helix Water District
Board Director, San Diego County Water Authority
www.lakejennings.org (go fishing & camping - teepees)
www.socalwatersmart.com (rebate link)
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