Wednesday, April 23, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

EID bleeding red ink

EDITOR:

The El Dorado Irrigation District’s just-released audited financial report for 2012 reveals deepening financial woes.

A net loss of $10.8 million officially was recorded but excluded a $4 million increase in unfunded pensions. Including the worsening pension underfunding, the district lost $14.8 million.

With four rounds of double digit rate increases implemented since early 2010, EID’s ratepayers thought financial results would be getting better. But the audited financials prove otherwise.

Including increases in unfunded pensions, the district has lost $37.5 million in the last three years.

Ratepayers will have a chance to weigh in on this in November when two EID board seats are up for election.

GREG PRADA
Cameron Park

Letters to the Editor

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Discussion | 2 comments

  • Dink LaneJune 24, 2013 - 4:49 pm

    EID did have that major lawsuit fighting for their Senior Water Rights that Westlands wanted. That had to cost them a pretty penny.

    Reply | Report abusive comment
  • noJune 28, 2013 - 9:14 pm

    hmmm, who has been the EID director for the past 3 years......

    Reply | Report abusive comment
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