Sound financial management
Meeting Orange County’s water needs requires an organization that is financially stable with the assets to withstand environmental and operational challenges. Financial stability results in water reliability, at a reasonably low cost.
The Orange County Water District has a proven history of sound financial management, fiscal responsibility and efficiency. This is made possible through the board’s support of robust financial policies that encourage conservative fiscal management and long-term planning. Maintaining a strong financial portfolio helps the District better weather economic downturns, variations in water demand, major equipment failures and catastrophic events.
Since 2008, OCWD has maintained the ‘AAA’ rating assigned by Fitch, a testament to its financial health. Maintaining financial reserves and excellent credit ratings allows the District to access low-cost financing for water infrastructure projects, a cost savings for the water retailers served by the District and the more than 2.5 million residents and businesses in north and central Orange County.
OCWD’s revenues are derived primarily from annual assessments on its 19 water retailers, who pump groundwater from the basin, and property taxes, both of which have proven to be stable over time. These stable revenues have helped OCWD earn high credit ratings.
The District’s favorable financial position has allowed it to provide greater water reliability for the region by financing and securing funding for critical capital projects like the Groundwater Replenishment System and its Initial Expansion. It also enhances the District’s ability to adequately manage and maintain its complex operations. OCWD will continue to maintain strong financial policies that support its mission of providing an adequate, reliable and high-quality water supply to local water retailers at the lowest reasonable cost and in an environmentally responsible manner.