Monday, April 14, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

Clean audit for EID

By
From page A1 | July 10, 2013 | 6 Comments

Auditors for the El Dorado Irrigation District (EID) issued an unqualified (“clean”) opinion for the district in their report to EID’s Board of Directors at their meeting on Monday, June 24.

That report was provided by EID’s auditors, Richardson & Company.

The audit found that the district’s total assets decreased $24.6 million, or 3 percent in 2012, primarily due to accumulated depreciation and reduction of cash used for debt service and pay-as-you-go construction projects. Total liabilities also decreased $19.2 million, or 4.4 percent, primarily due to debt principal payments and the 2012A and 2012B advance refunding bond issue that reduces future debt obligations of $4 million.

Total revenues for 2012, including operating and non-operating sources, were $66.8 million. The audit noted that operating revenues in 2012 decreased by $2.3 million primarily due to reduced hydroelectric power revenues which were down by 41 percent. The decline was made up, in part, by greater water sales and service. Non-operating revenues in the form of surcharges, property taxes, and interest income were relatively flat.

Operating expenses were $41.5 million with personnel costs making up 64 percent of that amount. Depreciation, amortization and interest expenses were $36.1 million. Together they totaled $77.6 million.

However, if only operating revenues and operating expenses are considered, excluding depreciation and amortization, the district ended 2012 with a surplus of $11.7 million.

Capital assets of the district increased $14.7 million in 2012 to $958.6 but netted out at $693.3 once accumulated depreciation was figured in. This was down by 1.9 percent from the previous year. Outstanding debt was at $370.5 million, which was a decrease of $10.6 million from the prior fiscal year. According to the auditors, the decrease was attributed to scheduled debt service as well as $3 million prepayment on the 2004A Issue.

The report concluded that the auditors did not identify any deficiencies in internal controls that they considered to be material weaknesses, any instances of noncompliance, or other matters that they are required to report.

The board then moved to approve the audit as well as funding for two capital improvement projects.

One was for the purchase of a new $37,849 pump to lift water from the Folsom lake pumps to the El Dorado Hills water treatment plant. The purchase is part of a Water Facility Replacement Program that is estimated to cost $500,000 when completed.

The second was a contract with McGuire and Hester for up to $579,500 for construction of the Yates Lift Station Upgrades Project. Built in the late 1960s, the station serves the Diamond Manor Mobile Home Park. The approved project includes installation of new mechanical equipment, new electrical systems, a new perimeter fence, new manholes and piping, site soils stabilization and grading, water service and compliance measures. Also approved was $123,328 for EID construction management and inspection, consultants inspections-testing, relocation of the existing PG&E electrical service and contingencies.

The board heard a legislative update by state legislative advocate Bob Reeb on six bills currently being circulated in Sacramento as well as the status of water bond negotiations. Reeb said water rights fees and water quality fees have both been increased and they are expected to continue to rise. Several bills they are monitoring includes AB 145, which would shift the safe drinking water program from the California Department of Public Health to the State Water Resources Control Board. AB 218 would require the district not to ask about felony convictions on initial job applications, although they could ask after a person is qualified. AB 1235 would require every local elected official to go through training on everything financial — budgeting, auditing and investments. Reeb added that it was suggested the bill include members of the legislature, but no one jumped on that idea. Other bills he discussed dealt with CEQA noticing requirements, handling impasses between employers and employees, the Brown Act and building standards.

Reeb said nothing has been done to date regarding water bonds. Currently there are two bills in committee and the legislature has held some hearings on the subject. But he said he doubted anything would happen until next spring.

General Manager Jim Abercrombie reported that Director Alan Day was elected as the Alternate Special District Representative to the El Dorado Local Area Formation Commission. He also reported that Jenkinson Lake was 96 percent full and Caples Lake was 99 percent full as of June 17.

Paul Raveling of El Dorado Hills discussed a survey of water rates in the state from 2011. He said EID rates were the 46th lowest among 216 agencies: 45 agencies were cheaper and 170 agencies were more expensive. He alleged board member Day used false information when he ran for the board and he owed the community an apology.

Contact Dawn Hodson at 530-344-5071 or dhodson@mtdemocrat.net. Follow @DHodsonMtDemo on Twitter.

LEAVE A COMMENT

Discussion | 6 comments

  • Reginald BronnerJuly 09, 2013 - 12:31 pm

    EID gave itself a "pass" on its audit along with a nasty comment about the newest member, Day? Have you never heard of an "outside auditor"? What about civility? El Dorado County has its own strange political customs, I swear.

    Reply | Report abusive comment
  • FranJuly 09, 2013 - 12:46 pm

    "EID Accounting Manager Tony Pasquarello reported that independent auditing and accounting firm Richardson & Company conducted the 2012 financial audit of EID and issued an unqualified “clean” opinion, - See more at: http://www.inedc.com/1-5119#sthash.yB6cBCjJ.dpuf" seems this MD article left out the word "independent" firm.

    Reply | Report abusive comment
  • Phil VeerkampJuly 09, 2013 - 1:43 pm

    Reginald Bronner, candidate for 6th Assembly District, asserts, "EID gave itself a “pass” on its audit along with a nasty comment about the newest member, Day". Reginald Bronner, it was Richardson & Company , not EID, that gave EID an "unqualified" (clean) opinion. Reginald Bronner, it was Paul Raveling of El Dorado Hills (not EID) who, "alleged board member Day (Greg Prada's friend?)used false information when he ran for the board and he owed the community an apology. Voters of the 6th Assembly District please take notice of the dishonest tactics of Reginald Bronner. Bronner, Day, Prada . . . birds of a feather.

    Reply | Report abusive comment
  • Phil VeerkampJuly 09, 2013 - 1:44 pm

    Reply | Report abusive comment
  • Phil VeerkampJuly 09, 2013 - 5:57 pm

    bump

    Reply | Report abusive comment
  • cookie65July 10, 2013 - 8:38 am

    Phil, did you see where moonbean is using Caltrans as his personal law enforcement against people opposing his tunnel project? http://www.news10.net/comments/250127/2/Cal-Trans-removes-signs-opposing-Browns-Delta-tunnel-proposal

    Reply | Report abusive comment
.

News

 
Water rights detailed for EDWPA board

By Dawn Hodson | From Page: A1, 5 Comments

Supes pick 1% growth forecast

By Chris Daley | From Page: A1, 7 Comments

 
Sanford trial keys off chain of evidence

By Cole Mayer | From Page: A1

Cedar Springs Waldorf offers open house

By News Release | From Page: B1

 
Georgetown calls stage 2 drought

By Dawn Hodson | From Page: A1, 1 Comment

Candidates busy raising money

By Dawn Hodson | From Page: B1, 12 Comments

 
70th anniversary: Jeep ready for D-Day

By Dawn Hodson | From Page: A1 | Gallery

Tick prevention reminder issued

By Health and Human Services Agency | From Page: A3, 6 Comments

 
.

Opinion

California rambling: Spring gardens

By John Poimiroo | From Page: A4 | Gallery

 
Home country: Fly fising

By Slim Randles | From Page: A4, 2 Comments

Cancer center vital resource

By Mountain Democrat | From Page: A4, 3 Comments

 
.

Letters

Supervisor responds to Small Farm rate issue

By Letters to the Editor | From Page: A5, 16 Comments

 
EDH APAC

By Letters to the Editor | From Page: A5, 10 Comments

Government regulations

By Letters to the Editor | From Page: A5, 196 Comments

 
Censorship?

By Letters to the Editor | From Page: A5, 158 Comments

.

Sports

Schedule: April 14-19, 2014

By Democrat Staff | From Page: A6

 
Sanders breaks through with race victory

By Bill Sullivan | From Page: A6 | Gallery

Lacrosse: Trojans battle but fall to St. Francis

By Brandon Anicich | From Page: A6

 
Softball: Grizzlies win wild one

By Jerry Heinzer | From Page: A6 | Gallery

Under the Scoreboard: April 13, 2014

By Democrat Staff | From Page: A6

 
Tennis: Golden Sierra vs Forest Lake Christian

By Democrat Staff | From Page: A6 | Gallery

El Dorado falls to Cosumnes Oaks

By Mike Bush | From Page: A7

 
Roundup: April 10-12

By Democrat Staff | From Page: A7 | Gallery

.

Prospecting

Tuvan Throat Singers perform at Harris Center

By Harris Center for the Arts | From Page: B1

 
The Winner Is … Everyone

By Democrat Staff | From Page: B2 | Gallery

Foothill gourmet: Bacon and cackle berries

By Donna Brown | From Page: B2

 
Musicians fiddle around at Harris Center

By Harris Center for the Arts | From Page: B10

 
.

Essentials

Lake levels 4-10-14

By Michael Raffety | From Page: A2

 
DUI Log: Jan. 24-Feb. 25

By Cole Mayer | From Page: A2, 2 Comments

Crime Log: March 19-24

By Cole Mayer | From Page: A2, 2 Comments

 
.

Obituaries

Mike Clyde Parkerson

By Contributor | From Page: A2

 
John Krek

By Contributor | From Page: A2, 1 Comment

.

Real Estate

.

Comics

Speed Bump

By Contributor | From Page: A8

 
American Profile Crossword

By Contributor | From Page: A8

Tundra

By Contributor | From Page: A8

 
Horoscope, Tuesday, April 15, 2014

By Contributor | From Page: A8

Horoscope, Monday, April 14, 2014

By Contributor | From Page: A8

 
Shoe

By Contributor | From Page: A8

Sudoku

By Contributor | From Page: A8

 
Rubes

By Contributor | From Page: A8

New York Times Crossword

By Contributor | From Page: A8

 
TV Listings

By Contributor | From Page: A8