The cash flow at the zone is hurting.....DSRSD isn't paying the zone for a few months because DSRSD was over billed last year. The reserves have dropped by $10 million. The state has taken the Zones property tax revenue. There is over $3 million dollars worth of damage to the flood control canals and arroyos from the recent storms.
The zone needs to get into the 21st century and comply with the sunshine laws by providing at least annual audited financial statements to the public.
The new water treatment plant has a $450 million dollar price tag and the Stream Management Plan (21st century speak for flood control)has a $750 million dollar price tag. It is unrealistic to think this can be paid for on a pay-as-you-go basis. The Zone needs to get its finances in order so that if financing is required for these long term capital improvements, the financial statements will be ready.
The Zone needs my special district and city experience in finance and financial reporting.
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