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TID Budget Approved for 2010, No Electric Rate Increases

by TurlockCityNews.com Reporter 03
November 18, 2009
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The Turlock Irrigation District (TID) fiscal forecast shows the oldest irrigation district’s numbers of success as the approved a 2010 budget that is projected to bring in revenues of about $335 million.
 
For most people, the best news will be that there will not be any more electric rate increases.
 
On December 16, 2009 the TID Board did approve two water charge increases. The first took place on January 1, 2009 and the second will take effect on January 1, 2010.
 
Nearly $13.5 million is projected to be put into reserves while increasing the organizations Debt Service Coverage from 1.5 to 2.32. The DSC numbers relate to TID’s increased ability to cover or pay off debt.
 
$145 million will be spent on capital projects including about $100 million on the Almond Power Plant expansion.
 
Labor cost rose from last year, increasing the operation and maintenance expenses by $3 million. TID did have a 3 percent increase cap on O&M expenses. The approximate 5.8 percent increase would be about 2.88 percent except for uncontrollable increases associated with pension contributions and health benefit increases that TID self funds.
 
Labor bargaining units have a contract including a 3.75 percent wage increase for 2010. Management is also budgeted for a 3.75 percent cost of living increase although it is not under contract. Previous budget review questions from the TID Board of Directors suggest that the true “cost of living” numbers during this economic climate will be reviewed and most likely not warrant a 3.75 percent wage increase.
 
The TID Board of Directors unanimously approved the proposed 2010 budget.

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