HomeMy WebLinkAbout05-07-25 Board Packet1
OTAY WATER DISTRICT
AND
OTAY WATER DISTRICT FINANCING AUTHORITY
BOARD OF DIRECTORS MEETING
2554 SWEETWATER SPRINGS BOULEVARD
SPRING VALLEY, CALIFORNIA
WEDNESDAY
May 7, 2025
3:30 P.M.
AGENDA
1. ROLL CALL
2. PLEDGE OF ALLEGIANCE
3. APPROVAL OF AGENDA
4. APPROVAL OF THE MINUTES OF THE REGULAR BOARD MEETING ON APRIL 2,
2025
5. PUBLIC PARTICIPATION – OPPORTUNITY FOR MEMBERS OF THE PUBLIC TO
SPEAK TO THE BOARD ON ANY SUBJECT MATTER WITHIN THE BOARD’S JURIS-
DICTION INCLUDING AN ITEM ON TODAY’S AGENDA
The District’s meeting is live streamed. Information on how to watch and listen to the Dis-
trict’s meeting can be found at this link: https://otaywater.gov/board-of-directors/agenda-
and-minutes/board-agenda/
6. BOARD SECURITIES AND EXCHANGE COMMISSION TRAINING
a) DISCLOSURE RESPONSIBILITIES UNDER FEDERAL SECURITIES LAW
(SUZANNE HARRELL)
CONSENT ITEM
7. ITEMS TO BE ACTED UPON WITHOUT DISCUSSION, UNLESS A REQUEST IS
MADE BY A MEMBER OF THE BOARD OR THE PUBLIC TO DISCUSS A PARTICU-
LAR ITEM:
2
a) AUTHORIZE THE GENERAL MANAGER TO ENTER INTO A CONTRACT WITH
U.S. BANK FOR BANKING SERVICES, INCLUDING FIXED FEE SCHEDULE, FOR
A PERIOD OF UP TO FIVE YEARS (KEVIN KOEPPEN)
ACTION ITEMS
8. BOARD
a) RECEIVE THE DISTRICT’S INVESTMENT POLICY, POLICY NO. 27 OF THE DIS-
TRICT’S CODE OF ORDINANCES, FOR REVIEW AND RE-DELEGATE AUTHOR-
ITY FOR ALL INVESTMENT RELATED ACTIVITIES TO THE CHIEF FINANCIAL OF-
FICER, IN ACCORDANCE WITH GOVERNMENT CODE SECTION 53607 (KEVIN
KOEPPEN)
b) APPROVAL OF FUNDING AND TERM FOR CONTINUED PARTICIPATION IN THE
WATER CONSERVATION GARDEN AUTHORITY (WCA) BEGINNING JULY 1, 2025
(TENILLE OTERO)
c) ADOPT RESOLUTION NO. 4454, A RESOLUTION OF THE BOARD OF DIREC-
TORS OF THE OTAY WATER DISTRICT, PLACING IN NOMINATION JOSE MAR-
TINEZ AS A MEMBER OF THE ASSOCIATION OF CALIFORNIA WATER AGEN-
CIES REGION 10 BOARD MEMBER (PRESIDENT LOPEZ)
d) ADOPT RESOLUTION NO. 4453 AMENDING SECTION 25 OF THE DISTRICT’S
CODE OF ORDINANCES TO INCORPORATE “ESTABLISHING A PROCEDURE
FOR RATEPAYER OBJECTIONS TO PROPOSED WATER AND SEWER FEES
AND CHARGES” (KEVIN KOEPPEN)
e) DISCUSS THE 2025 BOARD MEETING CALENDAR (TITA RAMOS-KROGMAN)
REPORTS
9. GENERAL MANAGER’S REPORT
10. SAN DIEGO COUNTY WATER AUTHORITY UPDATE
11. DIRECTORS' REPORTS/REQUESTS
12. PRESIDENT’S REPORT/REQUESTS
RECESS TO CLOSED SESSION
13. CLOSED SESSION
a) CONFERENCE WITH LEGAL COUNSEL – EXISTING LITIGATION [GOVERNMENT
CODE §54956.9]
MARK COZIAHR, ET AL. vs. OTAY WATER DISTRICT, CASE NO. 37-2015-000-CU-
MC-CTL
3
b) ANTICIPATED LITIGATION GOVERNMENT CODE §54956.9 (E) (3)
CLAIMANT: Sue Jin Lee
c) ANTICIPATED LITIGATION GOVERNMENT CODE §54956.9 (E) (3)
CLAIMANT: Robinhood Court
RETURN TO OPEN SESSION
14. REPORT ON ANY ACTIONS TAKEN IN CLOSED SESSION. THE BOARD MAY ALSO
TAKE ACTION ON ANY ITEMS POSTED IN CLOSED SESSION.
OTAY WATER DISTRICT FINANCING AUTHORITY
15. NO MATTERS TO DISCUSS
16. ADJOURNMENT
All items appearing on this agenda, whether or not expressly listed for action, may be deliber-
ated and may be subject to action by the Board.
The Agenda, and any attachments containing written information, are available at the District’s
website at www.otaywater.gov. Written changes to any items to be considered at the open
meeting, or to any attachments, will be posted on the District’s website. Copies of the Agenda
and all attachments are also available by contacting the District Secretary at (619) 670-2253.
If you have any disability which would require accommodation in order to enable you to partici-
pate in this meeting, please call the District Secretary at (619) 670-2253 at least 24 hours prior
to the meeting.
Certification of Posting
I certify that on May 2, 2025, I posted a copy of the foregoing agenda near the regular
meeting place of the Board of Directors of Otay Water District, said time being at least 72 hours
in advance of the regular meeting of the Board of Directors (Government Code Section
§54954.2).
Executed at Spring Valley, California on May 2, 2025.
/s/ Tita Ramos-Krogman, District Secretary
1
MINUTES OF THE
BOARD OF DIRECTORS MEETINGS OF THE
OTAY WATER DISTRICT
AND
OTAY WATER DISTRICT FINANCING AUTHORITY
April 2, 2025
1.The meeting was called to order by President Lopez at 3:34 p.m.
2.ROLL CALL
Directors Present:Croucher, Gonzalez, Lopez, Rivera, and Robak
Directors Absent:None
Staff Present:General Manager Jose Martinez, General Counsel Dan Shinoff,
Chief of Engineering Michael Long, Chief Financial Officer
Joe Beachem, Chief of Administration Adolfo Segura, Acting
Chief of Operations Jake Vaklavek, Asst. Chief of Finance Kevin
Koeppen, and District Secretary Tita Ramos-Krogman.
3.PLEDGE OF ALLEGIANCE
4.APPROVAL OF AGENDA
A motion was made by Director Croucher, seconded by Director Robak, and carried
with the following vote:
Ayes: Directors Croucher, Gonzalez, Lopez, Rivera, and Robak
Noes: None
Abstain: None
Absent: None
to approve the agenda.
5.APPROVAL OF THE MINUTES OF THE REGULAR MEETINGS OF FEBRUARY 5,
2025 AND MARCH 5, 2025
A motion was made by Director Robak, seconded by Director Gonzalez, and carried
with the following vote:
Ayes: Directors Croucher, Gonzalez, Lopez, Rivera, and Robak
Noes: None
Abstain: None
Absent: None Smith
to approve the minutes of the regular meetings of February 5, 2025, and March 5,
2025.
AGENDA ITEM 4
2
6. PUBLIC PARTICIPATION – OPPORTUNITY FOR MEMBERS OF THE PUBLIC TO
SPEAK TO THE BOARD ON ANY SUBJECT MATTER WITHIN THE BOARD'S
JURISDICTION BUT NOT AN ITEM ON TODAY'S AGENDA
There were no public comments to be heard.
ACTION ITEMS
7. BOARD
a) PRESENT THE RESULTS OF THE CURRENT SEWER COST OF SERVICE
STUDY, PREPARED BY RAFTELIS FINANCIAL CONSULTANTS, INC., AND
OBTAIN DIRECTION FROM THE BOARD TO INCORPORATE THE COST-OF-
SERVICE STUDY’S RESULTS INTO THE FY 2026 BUDGET
Assistant Chief Financial Officer Kevin Koeppen provided the staff report to the board
and noted that this new study uses the fiscal year 2025 budget and six-year rate
model. He stated that the findings of the current study recommend updating the
district’s sewer rates to reflect current usage characteristics and costs. The most
recent hearing for sewer rates occurred in October 2020 and the actions taken are
effective until the end of 2025. Mr. Koeppen stated that implementation of new rates
beyond 2025 requires a new Proposition 218 Notice and Hearing. Staff is proposing a
modification to the district’s Proposition 218 Notice Hearing, which Mr. Koeppen
discussed in detail. He introduced Steve Gagnon, Vice President at Raftelis Financial
Consultants, Inc. (Raftelis), who provided a PowerPoint presentation of the results of
the current sewer cost of service study.
Mr. Gagnon indicated that there were several text changes to today’s PowerPoint
Presentation from the one he provided at the Finance and Administration Committee
on March 19, 2025, and noted that the results and numbers are all the same. See the
attached PowerPoint presentation for details.
Chief Financial Officer Joe Beachum stated that this agenda item is a resetting of
existing rates. Currently, staff is not requesting a sewer rate increase.
In response to a question from Director Robak, Mr. Koeppen stated that the last sewer
cost of service study was completed in 2020.
Director Croucher inquired about the studies for potable and reclaimed water.
Mr. Koeppen stated that those studies are scheduled to begin in 2026, complete in
2027, and brought to a Proposition 218 Public Hearing in October of 2027 for a rate
increase effective January 1, 2028. Director Croucher discussed the district’s plan to
incorporate an administrative exhaustion process. Staff responded to additional
questions from Director Croucher and indicated that a Proposition 218 Notice Public
Hearing will be held in October 2025. Director Croucher requested to discuss this
matter in closed session before the October 2025 public hearing.
In response to a question from Director Gonzalez, staff stated that the return to sewer
factor was based on the month of April 2024.
3
Director Rivera recommended that staff add to the report a hyperlink to the map or a
figure that would show the district’s sewer service area. He also recommended that a
Classification ID Number/System be added to indicate which industries are high,
medium or low.
Mr. Koeppen responded to additional questions from Director Robak and stated that
the sewer rates presented in the attached report have been calculated using
acceptable rate setting standards and meet the requirements of Proposition 218. He
also stated that if directed by the board, staff will incorporate these rates in the Fiscal
Year 2026 Budget, which will be presented at the June 4, 2025, board meeting.
A motion was made by Director Robak, seconded by Director Croucher and carried
with the following vote:
Ayes: Directors Croucher, Gonzalez, Lopez, Rivera and Robak
Noes: None
Abstain: None
Absent: None
to incorporate the results of the sewer service study rates into the Fiscal Year 2026
Budget.
b) DISCUSS THE 2024 BOARD MEETING CALENDAR
District Secretary Ramos-Krogman indicated that a special board meeting is
scheduled for April 16, 2025, at 2:30pm.
PUBLIC HEARING
8. THE BOARD WILL HOLD A PUBLIC HEARING TO CONSIDER APPROVING THE
FOLLOWING AGENDA ITEM AND INVITES THE PUBLIC TO PROVIDE
COMMENTS ON THE ITEM:
a) ADOPT ORDINANCE NO 596 TO APPROVE THE 4.62% INCREASE TO THE
BOARD OF DIRECTORS’ PER DIEM RATE FOR ATTENDING MEETINGS AND
PERFORMING THE DUTIES OF THEIR OFFICE; AND ADOPT RESOLUTION
NO. 4452 AMENDING POLICY NO. 8 TO REFLECT THE NEW PER DIEM
RATE
President Lopez closed the regular board meeting and opened a public hearing at
4:24 p.m. and asked District Secretary Ramos-Krogman if there were any speakers
who wished to provide comments to the board.
District Secretary Ramos-Krogman stated that there were no speaker slips and/or
public participation for this public hearing.
With no public participation and discussion from the board, President Lopez closed the
public hearing at 4:25 p.m.
4
A motion was made by Director Robak, seconded by Director Rivera and carried with
the following vote:
Ayes: Directors Croucher, Gonzalez, Lopez, Rivera, and Robak
Noes: None
Abstain: None
Absent: None
to adopt Ordinance No. 596 to approve the 4.62% increase to the Board of Directors’
Per Diem rate for attending meetings and performing the duties of their office; and
adopt Resolution No. 4452, amending Policy No. 8 to reflect the new Per Diem rate.
The regular board meeting resumed at 4:25 p.m.
CONSENT ITEMS
9. ITEMS TO BE ACTED UPON WITHOUT DISCUSSION, UNLESS A REQUEST IS
MADE BY A MEMBER OF THE BOARD OR THE PUBLIC TO DISCUSS A
PARTICULAR ITEM:
Director Robak requested that Agenda Item 8c, 2025 Legislative Program Policy
Guidelines and Top 10 Legislative and Regulatory Priorities, be pulled for discussion.
A motion was made by Director Croucher, seconded by President Lopez and carried
with the following vote:
Ayes: Directors Croucher, Gonzalez, Lopez, Rivera and Robak
Noes: None
Abstain: None
Absent: None
to approve the following consent calendar items:
a) REJECT ALL BIDS RECEIVED FOR THE AS-NEEDED CONSTRUCTION
SERVICES BID #FY25-3232-1216
b) AWARD A PROFESSIONAL ENGINEERING SERVICES AGREEMENT TO
WOODARD & CURRAN AND AUTHORIZE THE GENERAL MANAGER TO
EXECUTE THE AGREEMENT FOR UPDATES TO THE WATER FACILITIES
MASTER PLAN AND PROGRAM ENVIRONMENTAL IMPACT REPORT, URBAN
WATER MANAGEMENT PLAN, AND INTEGRATED WATER RESOURCES PLAN
IN AN AMOUNT NOT-TO-EXCEED $1,321,867
c) 2025 LEGISLATIVE PROGRAM POLICY GUIDELINES AND TOP 10
LEGISLATIVE AND REGULATORY PRIORITIES
d) AUTHORIZE THE WATER CONSERVATION GARDEN JOINT POWERS
AUTHORITY (JPA) INVOICE FOR THE REMAINDER OF FISCAL YEAR ENDING
JUNE 30, 2025
5
e) AWARD A PROFESSIONAL SERVICE CONTRACT TO AXIM GEOSPATIAL FOR
THE ARCGIS GEOMETRIC NETWORK TO UTILITY NETWORK MIGRATION IN
AN AMOUNT NOT-TO-EXCEED $450,000
INFORMATIONAL ITEM
10. ITEMS ARE PROVIDED TO THE BOARD FOR INFORMATIONAL PURPOSES
ONLY. NO ACTION IS REQUIRED ON THE FOLLOWING AGENDA ITEMS
a) WATER CONSERVATION GARDEN JOINT POWERS AUTHORITY (JPA)
UPDATE
General Manager Jose Martinez provided the staff report to the board and noted
that this agenda item was discussed at the Conservation/Public
Relations/Legal/Legislative Committee meeting on March 18, 2025. He noted that
in June 2024, the Otay Water District (District) submitted its letter to opt out of the
WCG and said that the District can choose to rescind that letter to continue to
support the WCG. A decision on this matter must be made by the next board
meeting. Mr. Martinez responded to comments and questions from the board and
introduced Ms. Lauren Magnuson, Director of Garden Operations, to provide
additional updates and details of the WCG.
A letter from Ms. Kathleen Coates Hedberg, President of the WCG, was provided
to the board. It requested that the District withdrawal letter from the WCG. See
attached letter from the WCG dated March 27, 2025, for details. Attached to that
letter was WCG’s proposed budget for the next fiscal year, in which Ms. Magnuson
provided details of the budget and responded to the board’s questions and
comments.
President Lopez indicated that a final decision will be made at the District’s May 7,
2025, board meeting.
Director Rivera commented that support for the WCG is feasible if the District
considers splitting the necessary funding with the Sweetwater Authority and Helix
Water District and have the Cuyamaca College be responsible for the costs of
utilities and insurance.
Director Gonzalez suggested advertising the WCG in local media and the District’s
social media to help promote the Garden.
Director Croucher suggested that the WCG reach out to CalFire Captain Thomas
Shoots to see if Homeland Security grants are available for the WCG.
b) SECOND QUARTER FISCAL YEAR 2025 CAPITAL IMPROVEMENT PROGRAM
REPORT
Public Services Manager Kevin Cameron provided a PowerPoint presentation to
the board and responded to their comments and questions.
6
Director Croucher suggested that a graph showing percentages of baseline
completion on project timelines be added to the CIP Budget Forecast vs.
Expenditures slide.
c) FISCAL YEAR 2025 MID-YEAR UPDATE FOR THE DISTRICT’S FISCAL YEAR
2023-2026 STRATEGIC PLAN
Information Technology Manager Michael Kerr provided a PowerPoint presentation
to the board and responded to their comments and questions.
Director Croucher stated that it would be helpful if staff could note in the staff report
and presentation when changes are made to the Strategic Plan’s baselines and
targets.
REPORTS
11. GENERAL MANAGER REPORT
General Manager Jose Martinez stated that he had nothing to report.
12. SAN DIEGO COUNTY WATER AUTHORITY UPDATE
Directors Croucher and Robak provided CWA, LAFCO, and MWD updates.
13. DIRECTORS' REPORTS/REQUESTS
Director Croucher indicated that he will be working with Communication Officer Tenille
Otero to schedule a tour of CalFire facilities.
Directors Croucher, Gonzalez, Rivera, and Robak shared and/or submitted written
reports of meetings they attended. See attached reports.
14. PRESIDENT’S REPORT
President Lopez encouraged board members to attend the 2025 WateReuse
California Annual Conference and noted that the Early-Bird Registration for the
conference ends on June 24, 2025. He noted that he and Director Gonzalez are
assigned to the General Manager’s Evaluation Ad Hoc Committee and plans to
activate the Legal Counsel’s Evaluation Ad Hoc Committee.
A written report of meetings he attended was submitted to District Secretary Ramos-
Krogman. See the attached report.
15. CLOSED SESSION
The board recessed to closed session at 6:10 p.m. to discuss the following matters:
7
a) CONFERENCE WITH REAL PROPERTY NEGOTIATORS Pursuant to
California Government Code §54956.8
Property: SALT CREEK GOLF COURSE
525 HUNTE PARWAY
CHULAVISTA, CA 91914
Agency negotiator: General Counsel
b) Under negotiation: Disposition of PropertyCONFERENCE WITH LEGAL
COUNSEL – EXISTING LITIGATION [GOVERNMENT CODE §54956.9]
OTAY WATER DISTRICT vs. CITY OF SAN DIEGO; CASE NO. 37-2017-
00019348-CU-WM-CTL
c) CONFERENCE WITH LEGAL COUNSEL – ANTICIPATED LITIGATION
[GOVERNMENT CODE §54956.9] (1 MATTER)
RETURN TO OPEN SESSION
16. REPORT ON ANY ACTIONS TAKEN IN CLOSED SESSION. THE BOARD MAY
ALSO TAKE ACTION ON ANY ITEMS POSTED IN CLOSED SESSION.
The board reconvened from closed session at 7:16 p.m. and General Counsel Dan
Shinoff reported that the board took action on Agenda Item 14a, Conference with Real
Property Negotiators Pursuant to California§54956.8, with a unanimous vote (5-0) to
approve a contract with CalWest.
No other reportable actions were taken in closed session.
OTAY WATER DISTRICT FINANCING AUTHORITY
17. NO MATTERS TO DISCUSS
There were no items scheduled for discussion for the Otay Water District Financing
Authority board.
18. ADJOURNMENT
With no further business to come before the Board, President Lopez adjourned the
meeting at 7:17 p.m.
President
ATTEST:
District Secretary
Updates to Existing Rate Structure
•Revised Return to Sewer (RTS) Factors
›MFR RTS is calculated as the lowest month use divided by average
month use
›Commercial is typically 90 to 100% RTS
–Selected 100%
•Updated Wastewater Strengths
›Low strength commercial should have a lower strength than
residential customers since they do not have a kitchen
2
Fixed Charge Development (System Charge)
•Added a customer service charge component to the fixed charge to
reflect customer service costs
•Meter capacity ratios are based on the ¾” meter as the base instead of
5/8”
3
Question and Discussion?
16
The Water Conservation Garden • 12122 Cuyamaca College Dr. West, El Cajon, CA 92019 • 619.660.0614
• www.TheGarden.org
The Water Conservation Garden is a 501(c)(3) tax exempt government entity. Federal Tax ID# 33-0639414.
March 27, 2025
J P A B O A R D O F D I R E C T O R S
PRESIDENT Kathleen Hedberg SDCWA
VICE PRESIDENT Jose Lopez Otay Water District
TREASURER Jennifer Bryant Helix Water District
SECRETARY Dr. Lynn Neault GCCCD
Director Nicole DeSantis City of San Diego
Director Steve Castanda Sweetwater Authority
Director Dan McMillan Helix Water District
Administrator Brian Olney Helix Water
Otay Water District Board Directors
2554 Sweetwater Springs Blvd.
Spring Valley, CA 91978
Sent via email: Tita Ramos-Krogman, District Secretary; Tita.Ramos-Krogman@otaywater.gov
Subject: Request to Rescind Otay Water District Withdrawal Letter from the Water
Conservation Garden Authority
Dear Board Directors:
I am writing to respectfully request that the Otay Water District reconsider and rescind its decision to
withdraw from the Water Conservation Garden Authority (Authority) agreement with the Water
Conservation Garden. As a valued community resource, the Garden plays a crucial role in educating the
public about sustainable landscaping, water efficiency, and environmental stewardship—goals that align
with Otay Water District’s mission and commitment to responsible water management.
The Water Conservation Garden has long served as a vital educational tool for residents, schools, and
businesses in our region. By remaining a partner in the Authority, Otay Water District can continue to
support best practices in water-wise landscaping and benefits our entire community. The Garden’s
programs complement Otay Water District outreach efforts to promote efficiency, and maintaining this
partnership demonstrates a continued investment in public education and environmental responsibility
and community service programs to your ratepayers.
Additionally, the collaborative nature of the Authority ensures that financial and operational support for
the Garden is distributed among multiple agencies, reducing the burden on any single entity while
maximizing the benefits for the broader community. Withdrawing from the agreement could undermine
the Garden’s ability to operate effectively and diminish the positive impact it has on water efficiency
efforts in our region. I urge you to continue Otay Water District’s financial support for the Water
Conservation Garden. Thank you for your time and consideration.
Respectfully,
Kathleen Coates Hedberg, PE, MPH
President
Attachments:
1. FY 24/25 budget summary, FY24/25 actuals, and draft proposed budget summary FY 25/26
2. Benefit Analysis of Authority Support for the Water Conservation Garden
OTAY WATER DISTRICT
BOARD OF DIRECTORS
PER-DIEM AND MILEAGE CLAIM FORM
Pay To: Jose Lopez Period Covered:
Employee Number: From: 03/01/25 To: 03/31/25
ITEM DATE MEETING PURPOSE / ISSUES
DISCUSSED MILEAGE
HOME to OWD OWD to HOME
MILEAGE
OTHER LOCATIONS
1 03/04/25 SBEDC South Bay Economic & Development Council Meeting
2 03/05/25 OWD Regular Board Meeting
3 03/07/25 CVCC Chula Vista Chamber’s 1st Friday Breakfast – GM Martinez Speaker
4 03/08/25 WCG
Water Conservation Garden’s Tomatomania Event
5 03/13/25 OWD Committee Agenda Briefing Meeting
6 03/17/25 OWD Engineering & Operations Committee
Meeting
7 03/18/25 COWU Council of Water Utilities Meeting
8 03/19/25 OWD Finance & Admin Committee Meeting
9 03/25/25 OWD Water Conservation Garden Meeting
10 03/27/25 OWD Board Agenda Briefing Meeting
Disclosure Responsibilities Under
the Federal Securities Laws and
Certain other Topics
Created by:
Stradling Yocca Carlson & Rauth
Harrell & Company Advisors
May 7, 2025
Otay Water District
AGENDA ITEM 6a
Disclosure Considerations for Initial Bond Issuance
How are Bonds Sold to the Investing Public?
▪Primary Market
▪Underwriter/Broker-Dealer
▪Competitive or Negotiated
▪Secondary Market
▪After Initial Sale Through a Network of Broker-
Dealers
4829-5794-3033
Disclosure Considerations for Initial Bond Issuance (Cont.)
How are Bonds Offered for Sale?
▪Bonds are Marketed Through the “Official Statement”
▪This is the District’s Disclosure Document
▪Include all Information that Would be Relevant to
Making an Informed Investment Decision
▪Free From Material Misstatement
▪Requires a Level of “Due Diligence”
4829-5794-3033
Why Is Disclosure Training Necessary?
Why is Training Necessary?
•The District issues securities in the public capital markets
•Investors in municipal securities have rights under
federal securities laws
•Issuer must ensure that all “material” information is
disclosed
Why is Disclosure Training Necessary (Cont.)
▪In 2010, Securities and Exchange Commission (SEC)
Found That State of New Jersey’s Violation of Federal
Securities Laws Was Due to Lack of Training
▪SEC Has Declared That Elected Officials and Top
Administrators Have a Duty to Review and be Familiar
With Disclosure Documents
▪SEC Has Substantially Increased Enforcement Activity
in Municipal Bond Sector
4829-5794-3033
The Securities Act Of 1933
•1933 Act has two substantive rules:
•Registration requirement
•Antifraud rule
•Antifraud Rule applies to municipal securities
•Prohibits any person from, directly or indirectly, obtaining money
or property by means of any untrue statement of a material fact or
by a misleading omission.
•Negligence standard (should have known)
Securities Exchange Act Of 1934
Rule 10b-5
•1934 Act creates ongoing disclosure requirements for
public companies
•Also contains antifraud provisions (Rule 10b-5)
•Antifraud provisions apply to government issuers
Rule 10b5
•“It shall be unlawful for any person . . .
a)To employ any device, scheme or artifice to defraud,
b)To make any untrue statement of a material fact or to omit
to state a material fact necessary in order to make the
statements made,in the light of the circumstances under
which they were made,not misleading ....”
The “Materiality” Standard
•“[w]hether or not there is a substantial likelihood that a
reasonable investor or prospective investor would
consider the information important in deciding whether
or not to invest.”
•Materiality is determined in context of all the facts and
circumstances, but in hindsight
•Guidance comes primarily from court decisions and
SEC enforcement cases. In the MCDC “self-reporting”
program from 2013, SEC staff consistently refused to
provide advance guidance on what constitutes a
“material” misstatement of facts
What Should Be Disclosed?
•Unlike corporate securities, there is no “line item” set of
rules for what goes into an Official Statement (“OS”)
•Various groups have suggested disclosure for particular
market segments and general guidelines for OS content
•Look at practices in the industry; recent developments
(e.g. Pension, Continuing Disclosure Compliance)
•In the end, the District must use its own good judgment
Rule 15c2-12 of the Securities Exchange Act of 1934
•RULE GOVERNS CONDUCT BY THE
PARTICIPATING UNDERWRITERS
•No direct regulation over Issuers pursuant to Rule 15c2-12
except for antifraud provisions
•But by regulating underwriters, the Rule indirectly regulates
issuers by controlling access to the market
•SEC plans for legislative changes to apply 15c2-12 directly to
Issuers
•Sets the basis for Continuing Disclosure Undertakings
•Annual reports
•Event Notices (i.e. bankruptcy, reserve fund draws, bond calls, rating
changes, etc.)
4829-5794-3033
When Do Disclosure Rules Apply?
•New offerings
•Annual Report under Rule 15c2-12
•Rule 15c2-12 Material Event Notices
•Any other circumstance where an Issuer is
“speaking to the market”
Content of Annual Reports
•Audited Financial Statements
•Information (i.e. tables, adopted budget) identified in
Continuing Disclosure Undertaking
•Additional voluntary information
•Consider Rule 10b5 implications – is there more you
should be saying?
•Has anything happened since the date of the audited
financial reports that has materially impacted your
financial condition?
Rule 15c2-12 Material Event Notices
•Obligation to file notices of specified events (rating changes, bond
redemptions, payment delinquencies, etc.) within 10 business days
•There are currently 16 events for which notices must be provided
•9 events regardless of materiality
•7 events if material
•The SEC continues to add to the list of events
•Most recently in 2017 when 2 new events were added
•The 2 events added in 2017 only apply to the District’s 2019
wastewater bonds
Post Issuance 15c2-12 Compliance
▪GM and CFO are Designated Disclosure
Representatives
▪Delegate to Staff
▪Identify Disclosure Requirements Dates/Content
▪Submission of Reports
▪Keep track of Listed Events
▪Maintains Dialogue with Municipal Advisor and
Disclosure Counsel re Significant Events
4829-5794-3033
Investor Communications
•No obligation to do it
•Tension between market (and SEC) desire for
transparency and potential issuer liability
•If needed, establish a single point of contact
•Speeches and presentations may be “speaking to the
market”
•Websites and Disclaimers
•“District Website. The District maintains a website. The information on such website is not part
of this Official Statement and is not intended to be relied on by investors with respect to the Bonds
unless specifically set forth or incorporated herein.”
•Be careful of information posted that may be contradictory or misleading when you have a POS in
the market
District Disclosure for New Issuances
•Official Statement is offering document to investors
•Must contain all material information for the particular
bond sale
•Official Statement is the District’s document
•Underwriters, municipal advisers and lawyers can help
develop the Official Statement but the District is
ultimately responsible for content
Disclosure Principles
•Provide main points but do not overwhelm readers with
detail
•Highlight important developments “up front”
•Determine appropriate level of importance for any
particular event or budgetary item
•Bringing all these factors together into final product is
ongoing process of give and take
•Consider maintaining Attorney-Client privilege for
sensitive issues
Timing Considerations For Bond Sale
•Progression of an offering
•POS sale final OS closing
•Supplements are possible
•Not preferred, can be disruptive after sale
•Be mindful of public actions or releases likely to occur
•District budget, Mid-Year reports
•OPEB Actuarial Studies
•Pension Plan Information
•Status of new or ongoing litigation
•Audits or Investigations
Disclosure Process
•Seek input from key officials
•CFO and Finance Department generally oversee and
coordinate the process
•Empower staff at all levels
•Municipal Advisor and Disclosure Counsel helps pull
information together and produces a draft Preliminary
Official Statement (“POS”)
•Draft POS reviewed by District staff and Financing Team
•“Due diligence” meeting before distribution of POS
Disclosure Topics for Preliminary Official Statement
•Experience of District Management Team
•Revenue Sources
•Pension Plans and OPEBs
•Labor negotiations
•Water Rates
•Customer trends
•Historical revenues, expenses and coverage
•Multi-year projections
•Litigation and investigations
•Information on debt – types and amounts
4829-5794-3033
Current Hot Topics
▪Unfunded Liabilities for Pension and OPEB
▪Cybersecurity
▪Climate Change/Drought
▪Fire Hazards
▪Private Placement Covenants
▪Effect of New GASB Standards
▪Derivative Exposure
▪Preparing for next Economic Downturn
▪Impact on District from Federal Policies
Disclosure Considerations
•Tomorrow’s “hot topic” may be different than today’s
•Disclosure must evolve to reflect changing
circumstances
•Read the disclosure with “fresh eyes”
•If you think something may be a concern, raise the
issue with District staff, municipal advisor and legal
counsel, consider discussing with the working group
•There are no “stupid questions”
•Political sensitivity and confidentiality considerations
are not exceptions to disclosure
What Does an SEC Enforcement Action
look like?
•An investigation is NOT litigation
•SEC has active whistleblower program that pays
bounties
•Broad document subpoenas
•Team of lawyers and accountants with no automatic
protections offered by a court
•No designated timeline or budget
•Personal subpoenas issued to officials and staff
•Cooperation and credibility are paramount
What Does a Settlement with the SEC
look like?
•Terms of settlement may take numerous forms:
•Generally “neither admit nor deny,” but may require an admission
•Cease and Desist Order
•Financial penalty and/or disgorgement
•Both against the issuer and the senior staff involved
•Industry bar and/or fines for issuers and individuals
•Compliance undertakings (including consultants and monitors)
•Cooperation against others under investigation
•Disclose your organization’s settlement with SEC to investors in future
disclosure documents
Topics of Recent SEC Enforcement
Actions
•Failure to disclose missed Continuing Disclosure Filings
•Inadequate Pension or Salary Increase Disclosures
•Inadequate Accounting Practice Standards
•Misleading or Incomplete Financial Disclosures
•Status of Fund Balance and Reserves
•Use of bond proceeds
Consequences of Bad Disclosure
•SEC Investigation –fees for lawyers and consultants
•Adverse publicity
•Personal Fines
•Reduced market access
•May have to impose new procedures and oversight to
settle SEC actions
•Rating Downgrades (triggers increased credit/liquidity
provider fees)
SEC Enforcement against Sweetwater UHSD
•The SEC found that the District bond official statement contained material
misstatements and omissions, including misleading budget projections
which indicated the District would end the 2017-18 fiscal year with a
General Fund balance of $19.5 million, when in fact the school district
expected to end the fiscal year with a negative balance of $7.2 million.
•The misleading budget projections were primarily the result of the
school district failing to accurately budget for a 3.75% pay raise with
its employees in each of the 2017-18 General Fund Budget, the First
Interim Report and the Second Interim Report.
•Settlement terms:
•Cease and desist order, adoption of disclosure policies/procedures, disclosure in
Official Statements for next 5 years, retention of independent consultant to assist
District going forward
•Former District CFO pays $28,000 from personal funds and refrains from being
involved in any future bond offerings (making them difficult to employ in the future)
4829-5794-3033
Disclosure Summary
•Investors must be provided all material information—When in doubt,
disclose
•Officials participating in the disclosure process must be in a position to
know material information (i.e., “the right people must be in the room”)
•Top management must support and encourage vigorous disclosure
program
•Empower everyone in the organization
•Involved officials must receive training; District must maintain rigorous
disclosure practices
•Protect Attorney-Client Privilege
•Adopt formal disclosure policy, including policies and procedures to ensure
to ensure continuing disclosure compliance; and ensure compliance with
the policy
•The District adopted such a policy
STAFF REPORT
TYPE MEETING: Regular Board MEETING DATE: May 7, 2025
SUBMITTED BY: Jon Ravaglioli
Finance Manager
PROJECT: N/A DIV. NO.ALL
APPROVED BY: Kevin Koeppen, Assistant Chief of Finance
Joseph R. Beachem, Chief Financial Officer
Jose Martinez, General Manager
SUBJECT: Authorize the General Manager to Enter Into a Contract With
U.S. Bank for Banking Services, Including Fixed Fee Schedule,
For a Period of up to Five Years.
General Manager’s Recommendation
That the Otay Water District (District) Board of Directors approve to
authorize the General Manager to enter into a contract with U.S. Bank
for banking services, including fixed fee schedule, for a period of
up to five years.
Committee Action
Please see Attachment A.
Purpose
To obtain Board approval to authorize the General Manager to enter
into a contract with U.S. Bank for banking services, including fixed
fee schedule, for a period of up to five years.
Analysis
The District has historically performed recurring reviews of banking
pricing and services against the current market to ensure that the
AGENDA ITEM 7a
2
current banking partner offers competitive pricing and access to
modern technologies and products.
U.S. Bank has been the District’s banking partner since FY 2023,
following its acquisition of MUFG Union Bank and the subsequent
transition to U.S. Bank’s systems and operations. Previously, MUFG
Union Bank had served as the District’s banking partner since 2006.
During that time, staff performed periodic pricing and in-depth
service reviews, consistently concluding that the current partner
offered the best pricing, range of services, and customer service. In
the most recent review, conducted in January 2019 and presented to
the Board at the March 6, 2019, Board Meeting, staff recommended that
the Board lock in pricing and review services in six years.
This report is based on pricing received from a request for
quotations conducted by the District in January 2025.
Staff is recommending that the District Board of Directors continue
the District’s banking partnership with U.S. Bank by authorizing the
General Manager to enter into a contract with U.S. Bank for banking
services for a period of up to five years.
Based on the analysis performed, U.S. Bank is the lowest-cost
provider in terms of monthly fees, and the District is satisfied with
their overall performance. Additionally, the financial and
administrative costs of changing banks, along with the potential for
customer disruptions and service risks, further support the
recommendation to remain with U.S. Bank. The District also utilizes
U.S. Bank as its corporate trust and custody provider under a
separate agreement, reinforcing the rationale to remain with U.S.
Bank.
Quotation Process
Staff requested quotes from seven banking institutions. Prospective
providers were given instructions for submitting the required fee
schedules, along with their qualifications and financials, and were
given a one-month deadline. Providers also received a detailed report
of the services required by The District.
The table below summarizes the banks and their responses to the
request for quotation:
Institution Response
U.S. Bank Response and quote received
California Bank and Trust Response and quote received
J.P. Morgan Chase Declined to respond
3
Bank of America No response
Wells Fargo No response
BMO (Bank of the West) No response
Banc of California No response
For cost comparison purposes, staff evaluated U.S. Bank’s current
pricing, U.S. Bank’s updated pricing, and California Bank and Trust’s
pricing. Staff also reviewed the pricing of neighboring agencies that
utilize banks other than U.S. Bank. Where comparable services could
be identified, U.S. Bank was the lower-cost provider.
Available Services
The District requires a range of banking services, which were
outlined in the RFQ document. These include account reconciliation,
account analysis, online reporting, wire transfers, lockbox services,
availability of funds, payroll services, tax payments, check fraud
protection, daylight overdraft protection, and debt services. Both
respondents met the District’s service requirements.
Banking Facilities
As part of the minimum qualifications outlined in the RFQ document,
respondents must be chartered banking institutions with full-service
branch banking facilities located within the District’s boundaries or
within 15 miles of the District offices. Both U.S. Bank (two
locations) and California Bank & Trust (one location) have facilities
within the District’s boundaries and less than three miles from
District headquarters.
Level of Customer Service
Both the Accounting and Customer Service sections have periodic,
direct interactions with U.S. Bank. Neither group reported any
dissatisfaction or unresolved service issues. U.S. Bank has been
responsive to any issues or inquires and maintains controls over the
District’s accounts. Staff is satisfied with U.S. Bank’s service
offerings and assigned support personnel.
Banking Fees
Staff used the fee schedule provided with each quote to estimate
annual fees based on an average month of service levels. The quotes
from U.S. Bank and California Bank & Trust were then compared to the
most recent pricing provided by U.S. Bank in 2023. The results of
this analysis are presented in the following table:
4
Institution Estimated Annual Fees
U.S. Bank (2023) $74,500
U.S. Bank (2025) $68,000
California Bank & Trust (2025) $110,500
Comparing the quotes received from U.S. Bank and California Bank &
Trust, there was a significant cost savings with U.S. Bank, given the
average volume of monthly transactions. Comparing the current U.S.
Bank quote with the previous U.S Bank quote, pricing decreased by
approximately 10%. Given the increase in the Consumer Price Index
(CPI) and the rising costs of other services during this period, the
decline in proposed banking fees is particularly notable.
Additionally, U.S. Bank has agreed to fix the proposed banking fees
for the five-year period.
Fiscal Impact Joe Beachem, Chief Financial Officer
The District’s banking fees will be slightly less than current fees.
Based on the analysis performed, staff estimates total banking
service fees to be $68,000, an approximate 10% decrease from the
prior analysis.
Strategic Goal
The District ensures its continue financial health through long-term
financial planning, formalized financial policies, enhanced budget
controls, fair pricing, debt planning, and improved financial
reporting.
Legal Impact
None.
Attachments:
Attachment A – Committee Action
ATTACHMENT A
SUBJECT/PROJECT:
Authorize the General Manager to Enter Into a Contract With
U.S. Bank for Banking Services, Including Fixed Fee
Schedule, For a Period of up to Five Years.
Committee Action
This item was presented to the Finance & Administration Committee at a
meeting held on April 15, 2025, and the following comments were made:
• Staff responded to a question from the Committee stating that the
district has the flexibility to seek services from other banks
during U.S. Bank’s five-year contract term.
• It was noted that the district has worked with other banks whose
service fees were higher. As noted in the staff report, U.S. Bank is
the lowest-cost provider in terms of monthly fees, and the district
is satisfied with their overall performance. Staff estimates total
banking service fees to be $68,000, an approximate 10% decrease from
the prior analysis.
Upon completion of the discussion, the Committee supported staffs’
recommendation and presentation to the full board as a consent item.
STAFF REPORT
TYPE MEETING: Regular Board MEETING DATE: May 7, 2025
SUBMITTED BY: Jon Ravaglioli,
Finance Manager
PROJECT: DIV. NO. All
APPROVED BY: Kevin Koeppen, Assistant Chief of Finance
Joseph R. Beachem, Chief Financial Officer Jose Martinez, General Manager
SUBJECT: Annual Review of the Investment Policy (Policy No. 27) of the
District’s Code of Ordinances and the Re-delegation of Authority for All Investment Related Activities to the Chief Financial Officer
General Manager’s Recommendation
That the Board receives the District’s Investment Policy (Policy No. 27) of the District’s Code of Ordinances for review and re-delegate
authority for all investment related activities to the ChiefFinancial Officer, in accordance with Government Code Section 53607.
Committee Action
See Attachment A.
Purpose
Government Code Section 53646 recommends that the District’s Investment Policy be tendered to the Board on an annual basis for review. In addition, Government Code Section 53607 requires that for the Board’s delegation of investment responsibilities to the Chief Financial Officer to remain effective, the governing board must re-
delegate authority over investment activities on an annual basis.
Analysis
The primary goals of the Investment Policy are to assure compliance
with the California Government Code, Sections 53600 et seq. The primary objectives, in priority order, of investment activities are:
AGENDA ITEM 8a
1. Protect the principal of the funds.
2. Remain sufficiently liquid to enable the District to meet all operating requirements which might be reasonably anticipated.
3. The District’s return is a market rate of return that is
commensurate with the conservative investments approach to meet the first two objectives of safety and liquidity.
The government code restricts local agency investment options to a conservative list of investments, including Federal Treasuries,
Federal Agencies, Callable Federal Agencies, the State Pool, the County Pool, high-grade corporate debt. Each year, staff reviews legislative updates to ensure our Investment Policy reflects the most recent and relevant updates approved by the
California State Legislature. During this year’s policy review, there were no relevant legislative changes that affect our Investment Policy.
On an annual basis, staff submits the Investment Policy to our list
of Broker/Dealers for their professional review and to ensure they acknowledge and understand the District’s Investment Policy. This
year, District Brokers/Dealers did not recommend any changes be made to our Investment Policy.
Because of the District’s adherence to a conservative range of authorized investments, we have been able to maintain a healthy and
diversified portfolio that meets our overall investment objectives and supports our long-term financial plans. The current policy is consistent with the current law and the overall objectives of the
policy are being met; therefore, there are no recommended changes to the District’s Investment Policy at this time.
Fiscal Impact Joe Beachem, Chief Financial Officer
None. Strategic Goal Demonstrate financial health through formalized policies, prudent
investing, and efficient operations. Legal Impact None.
Attachments:
A) Committee Action B) Policy No. 27
C) Presentation Slides
ATTACHMENT A
SUBJECT/PROJECT:
Annual Review of the Investment Policy (Policy No. 27) of the District’s Code of Ordinances and the Re-delegation of Authority for All Investment Related Activities to the Chief Financial Officer
Committee Action
This item was presented to the Finance & Administration Committee at a
meeting held on April 15, 2025, and the following comments were made:
• It was noted that there are no specific changes to Policy No. 27
for the upcoming year.
• In response to a question from the Committee, staff stated that
there are benefits of having different pools to invest in as it
allows the district to meet liquidity needs in a timely manner by
having same-day or next-day access to funds.
• The Committee recommended that staff be prepared for anticipated
political affects (i.e. tariffs) that may arise. Staff stated
that the District’s practice is to invest primarily in government
sponsored entities and hold those investments until maturity.
This practice safeguards the District from realizing any losses
as the investments mature at full value.
Upon completion of the discussion, the Committee supported staffs’
recommendation and presentation to the full board as an action item.
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 1 of 17
1.0 POLICY
It is the policy of the Otay Water District to invest public funds in
a manner which will provide maximum security with the best interest
return, while meeting the daily cash flow demands of the entity and
conforming to all state statues governing the investment of public
funds.
2.0 SCOPE
This investment policy applies to all financial assets of the Otay
Water District. The District pools all cash for investment purposes.
These funds are accounted for in the District’s audited Comprehensive
Annual Financial Report (CAFR) and include:
2.1) General Fund
2.2) Capital Project Funds
2.2.1) Designated Expansion Fund
2.2.2) Restricted Expansion Fund
2.2.3) Designated Betterment Fund
2.2.4) Restricted Betterment Fund
2.2.5) Designated Replacement Fund
2.2.6) Restricted New Water Supply Fund
2.3) Other Post Employment Fund (OPEB)
2.4) Debt Reserve Fund
Exceptions to the pooling of funds do exist for tax-exempt debt
proceeds, debt reserves and deferred compensation funds. Funds
received from the sale of general obligation bonds, certificates of
participation or other tax-exempt financing vehicles are segregated
from pooled investments and the investment of such funds are guided by
the legal documents that govern the terms of such debt issuances.
3.0 PRUDENCE
Investments should be made with judgment and care, under current
prevailing circumstances, which persons of prudence, discretion and
intelligence, exercise in the management of their own affairs, not for
speculation, but for investment, considering the probable safety of
their capital as well as the probable income to be derived.
Attachment B
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 2 of 17
The standard of prudence to be used by investment officials shall be
the “Prudent Person” and/or "Prudent Investor" standard (California
Government Code 53600.3) and shall be applied in the context of
managing an overall portfolio. Investment officers acting in
accordance with written procedures and the investment policy and
exercising due diligence shall be relieved of personal responsibility
for an individual security's credit risk or market price changes,
provided deviations from expectations are reported in a timely fashion
and appropriate action is taken to control adverse developments.
4.0 OBJECTIVE
As specified in the California Government Code 53600.5, when
investing, reinvesting, purchasing, acquiring, exchanging, selling and
managing public funds, the primary objectives, in priority order, of
the investment activities shall be:
4.1) Safety: Safety of principal is the foremost objective of
the investment program. Investments of the Otay Water
District shall be undertaken in a manner that seeks to
ensure the preservation of capital in the overall portfolio.
To attain this objective, the District will diversify its
investments by investing funds among a variety of securities
offering independent returns and financial institutions.
4.2) Liquidity: The Otay Water District’s investment portfolio
will remain sufficiently liquid to enable the District to
meet all operating requirements which might be reasonably
anticipated.
4.3) Return on Investment: The Otay Water District’s investment
portfolio shall be designed with the objective of attaining
a benchmark rate of return throughout budgetary and economic
cycles, commensurate with the District’s investment risk
constraints and the cash flow characteristics of the
portfolio.
5.0 DELEGATION OF AUTHORITY
Authority to manage the Otay Water District’s investment program is
derived from the California Government Code, Sections 53600 through
53692. Management responsibility for the investment program is hereby
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 3 of 17
delegated to the Chief Financial Officer (CFO), who shall be
responsible for all transactions undertaken and shall establish a
system of controls to regulate the activities of subordinate officials
and their procedures in the absence of the CFO.
The CFO shall establish written investment policy procedures for the
operation of the investment program consistent with this policy. Such
procedures shall include explicit delegation of authority to persons
responsible for investment transactions. No person may engage in an
investment transaction except as provided under the terms of this
policy and the procedures established by the CFO.
6.0 ETHICS AND CONFLICTS OF INTEREST
Officers and employees involved in the investment process shall
refrain from personal business activity that could conflict with the
proper execution and management of the investment program, or that
could impair their ability to make impartial investment decisions.
Employees and investment officials shall disclose to the General
Manager any material financial interests in financial institutions
with which they conduct business. They shall further disclose any
personal financial/investment positions that could be related to the
performance of the investment portfolio. Employees and officers shall
refrain from undertaking personal investment transactions with the
same individual with whom business is conducted on behalf of the
District.
7.0 AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS
The Chief Financial Officer shall maintain a list of District selected
financial institutions and security broker/dealers authorized and
approved to provide investment services in the State of California.
Investment services include the buying or selling of permissible
investments such as treasuries, government agencies, etc. for delivery
to the custodian bank. These may include “primary” dealers or regional
dealers that qualify under Securities & Exchange Commission Rule 15C3-
1 (Uniform Net Capital Rule). No public deposit shall be made except
in a qualified public depository as established by state laws. All
financial institutions and broker/dealers who desire to become
qualified bidders for investment transactions must supply the District
with the following, as appropriate:
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 4 of 17
Audited Financial Statements.
Proof of Financial Industry Regulatory Authority (FINRA)
certification.
Proof of state registration.
Completed broker/dealer questionnaire.
Certification of having read the District’s Investment
Policy.
Evidence of adequate insurance coverage.
An annual review of the financial condition and registrations of
qualified bidders will be conducted by the CFO. A current audited
financial statement is required to be on file for each financial
institution and broker/dealer through which the District invests.
8.0 AUTHORIZED AND SUITABLE INVESTMENTS
From the governing body perspective, special care must be taken to
ensure that the list of instruments includes only those allowed by law
and those that local investment managers are trained and competent to
handle. The District is governed by the California Government Code,
Sections 53600 through 53692, to invest in the following types of
securities, as further limited herein:
8.01) United States Treasury Bills, Bonds, Notes or those
instruments for which the full faith and credit of the United
States are pledged for payment of principal and interest. There
is no percentage limitation of the portfolio which can be
invested in this category, although a five-year maturity
limitation is applicable.
8.02) Local Agency Investment Fund (LAIF), which is a State
of California managed investment pool, may be used up to the
maximum permitted by State Law (currently $75 million). The
District may also invest bond proceeds in LAIF with the same but
independent maximum limitation.
8.03) Bonds, debentures, notes and other evidence of
indebtedness issued by any of the following government agency
issuers:
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 5 of 17
Federal Home Loan Bank (FHLB)
Federal Home Loan Mortgage Corporation (FHLMC or "Freddie
Mac")
Federal National Mortgage Association (FNMA or "Fannie Mae")
Government National Mortgage Association (GNMA or “Ginnie
Mae”)
Federal Farm Credit Bank (FFCB)
Federal Agricultural Mortgage Corporation (FAMCA or “Farmer
Mac”)
There is no percentage limitation of the portfolio which can be
invested in this category, although a five-year maturity from the
settlement date limitation is applicable. Government agencies
whose implied guarantee has been reduced or eliminated shall
require an “A” rating or higher by a nationally recognized
statistical rating organization.
8.04) Interest-bearing demand deposit accounts must be made
only in Federal Deposit Insurance Corporation (FDIC) insured
accounts. For deposits in excess of the insured maximum of
$250,000, approved collateral shall be required in accordance
with California Government Code, Section 53652. Certificates of
Deposit (CD) will be made only to the FDIC-insured limit of
$250,000. Investments in CD’s are limited to 15 percent of the
District’s portfolio.
8.05) Commercial paper, which is short-term, unsecured
promissory notes of corporate and public entities. Purchases of
eligible commercial paper may not exceed 2 percent of the
outstanding paper of an issuing corporation, and maximum
investment maturity will be restricted to 270 days. Investment is
further limited as described in California Government Code,
Section 53601(h). Purchases of commercial paper may not exceed 10
percent of the District’s portfolio.
8.06) Medium-term notes defined as all corporate debt
securities with a maximum remaining maturity of five years from
the settlement date or less, and that meet the further
requirements of California Government Code, Section 53601(k).
Investments in medium-term notes are limited to 10 percent of the
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 6 of 17
District’s portfolio and no more than 2 percent of the
outstanding medium-term notes of any single issuer.
8.07) Money market mutual funds that invest only in Treasury
securities and repurchase agreements collateralized with Treasury
securities, and that meet the further requirements of California
Government Code, Section 53601(l). Investments in money market
mutual funds are limited to 10 percent of the District's
portfolio.
8.08) The San Diego County Treasurer’s Pooled Money Fund,
which is a County managed investment pool, may be used by the
Otay Water District to invest excess funds. There is no
percentage limitation of the portfolio which can be invested in
this category.
8.09) Under the provisions of California Government Code
53601.6, the Otay Water District shall not invest any funds
covered by this Investment Policy in inverse floaters, range
notes, interest-only strips derived from mortgage pools, or any
investment that may result in a zero-interest accrual if held to
maturity. Also, the borrowing of funds for investment purposes,
known as leveraging, is prohibited.
9.0 INVESTMENT POOLS/MUTUAL FUNDS
A thorough investigation of the pool/fund is required prior to
investing, and on a continual basis. There shall be a questionnaire
developed which will answer the following general questions:
A description of eligible investment securities, and a
written statement of investment policy and objectives.
A description of interest calculations and how it is
distributed, and how gains and losses are treated.
A description of how the securities are safeguarded
(including the settlement processes), and how often the
securities are priced and the program audited.
A description of who may invest in the program, how often,
and what size deposits and withdrawals are allowed.
A schedule for receiving statements and portfolio listings.
Are reserves, retained earnings, etc., utilized by the
pool/fund?
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 7 of 17
A fee schedule, and when and how is it assessed.
Is the pool/fund eligible for bond proceeds and/or will it
accept such proceeds?
10.0 COLLATERALIZATION
Collateralization will be required on certificates of deposit
exceeding the $250,000 FDIC insured maximum. In order to anticipate
market changes and provide a level of security for all funds, the
collateralization level will be 102% of market value of principal and
accrued interest. Collateral will always be held by an independent
third party with whom the entity has a current custodial agreement. A
clearly marked evidence of ownership (safekeeping receipt) must be
supplied to the entity and retained. The right of collateral
substitution is granted.
11.0 SAFEKEEPING AND CUSTODY
All security transactions entered into by the Otay Water District
shall be conducted on a delivery-versus-payment (DVP) basis.
Securities will be held by a third-party custodian designated by the
District and evidenced by safekeeping receipts.
12.0 DIVERSIFICATION
The Otay Water District will diversify its investments by security
type and institution, with limitations on the total amounts invested
in each security type as detailed in Paragraph 8.0, above, so as to
reduce overall portfolio risks while attaining benchmark average rate
of return. With the exception of U.S. Treasury securities, government
agencies, and authorized pools, no more than 50% of the District’s
total investment portfolio will be invested with a single financial
institution.
13.0 MAXIMUM MATURITIES
To the extent possible, the Otay Water District will attempt to match
its investments with anticipated cash flow requirements. Unless
matched to a specific cash flow, the District will not directly invest
in securities maturing more than five years from the settlement date
of the purchase. However, for time deposits with banks or savings and
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 8 of 17
loan associations, investment maturities will not exceed two years.
Investments in commercial paper will be restricted to 270 days.
14.0 INTERNAL CONTROL
The Chief Financial Officer shall establish an annual process of
independent review by an external auditor. This review will provide
internal control by assuring compliance with policies and procedures.
15.0 PERFORMANCE STANDARDS
The investment portfolio shall be designed with the objective of
obtaining a rate of return throughout budgetary and economic cycles,
commensurate with the investment risk constraints and the cash flow
needs.
The Otay Water District’s investment strategy is passive. Given this
strategy, the basis used by the CFO to determine whether market yields
are being achieved shall be the State of California Local Agency
Investment Fund (LAIF) as a comparable benchmark.
16.0 REPORTING
The Chief Financial Officer shall provide the Board of Directors
monthly investment reports which provide a clear picture of the status
of the current investment portfolio. The management report should
include comments on the fixed income markets and economic conditions,
discussions regarding restrictions on percentage of investment by
categories, possible changes in the portfolio structure going forward
and thoughts on investment strategies. Schedules in the quarterly
report should include the following:
A listing of individual securities held at the end of the
reporting period by authorized investment category.
Average life and final maturity of all investments listed.
Coupon, discount or earnings rate.
Par value, amortized book value, and market value.
Percentage of the portfolio represented by each investment
category.
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 9 of 17
17.0 INVESTMENT POLICY ADOPTION
The Otay Water District’s investment policy shall be adopted by
resolution of the District’s Board of Directors. The policy shall be
reviewed annually by the Board and any modifications made thereto must
be approved by the Board.
18.0 GLOSSARY
See Appendix A.
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 10 of 17
APPENDIX A: GLOSSARY
ACTIVE INVESTING: Active investors will purchase investments and
continuously monitor their activity, often looking at the price
movements of their stocks many times a day, in order to exploit
profitable conditions. Typically, active investors are seeking short
term profits.
AGENCIES: Federal agency securities and/or Government-sponsored
enterprises.
BANKERS’ ACCEPTANCE (BA): A draft or bill or exchange accepted by a
bank or trust company. The accepting institution guarantees payment
of the bill, as well as the issuer.
BENCHMARK: A comparative base for measuring the performance or risk
tolerance of the investment portfolio. A benchmark should represent a
close correlation to the level of risk and the average duration of the
portfolio’s investments.
BROKER/DEALER: Any individual or firm in the business of buying and
selling securities for itself and others. Broker/dealers must register
with the SEC. When acting as a broker, a broker/dealer executes
orders on behalf of his/her client. When acting as a dealer, a
broker/dealer executes trades for his/her firm's own account.
Securities bought for the firm's own account may be sold to clients or
other firms, or become a part of the firm's holdings.
CERTIFICATE OF DEPOSIT (CD): A short or medium term, interest bearing,
FDIC insured debt instrument offered by banks and savings and loans.
Money removed before maturity is subject to a penalty. CDs are a low
risk, low return investment, and are also known as “time deposits”,
because the account holder has agreed to keep the money in the account
for a specified amount of time, anywhere from a few months to several
years.
COLLATERAL: Securities, evidence of deposit or other property, which a
borrower pledges to secure repayment of a loan. Also refers to
securities pledged by a bank to secure deposits of public monies.
COMMERCIAL PAPER: An unsecured short-term promissory note, issued by
corporations, with maturities ranging from 2 to 270 days.
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 11 of 17
COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR): The official annual
report for the Otay Water District. It includes detailed financial
information prepared in conformity with generally accepted accounting
principles (GAAP). It also includes supporting schedules necessary to
demonstrate compliance with finance-related legal and contractual
provisions, extensive introductory material, and a detailed
statistical section.
COUPON: (a) The annual rate of interest that a bond’s issuer promises
to pay the bondholder on the bond’s face value. (b) A certificate
attached to a bond evidencing interest due on a set date.
DEALER: A dealer, as opposed to a broker, acts as a principal in all
transactions, buying and selling for his own account.
DEBENTURE: A bond secured only by the general credit of the issuer.
DELIVERY VERSUS PAYMENT: There are two methods of delivery of
securities: delivery versus payment and delivery versus receipt.
Delivery versus payment is delivery of securities with an exchange of
money for the securities. Delivery versus receipt is delivery of
securities with an exchange of a signed receipt for the securities.
DERIVATIVES: (1) Financial instruments whose return profile is linked
to, or derived from, the movement of one or more underlying index or
security, and may include a leveraging factor, or (2) financial
contracts based upon notional amounts whose value is derived from an
underlying index or security (interest rates, foreign exchange rates,
equities or commodities).
DISCOUNT: The difference between the cost price of a security and its
maturity when quoted at lower than face value. A security selling
below original offering price shortly after sale also is considered to
be at a discount.
DISCOUNT SECURITIES: Non-interest bearing money market instruments
that are issued at a discount and redeemed at maturity for full face
value, e.g., U.S. Treasury Bills.
DIVERSIFICATION: Dividing investment funds among a variety of
securities offering independent returns.
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 12 of 17
FEDERAL CREDIT AGENCIES: Agencies of the Federal government set up to
supply credit to various classes of institutions and individuals,
e.g., S&L’s, small business firms, students, farmers, farm
cooperatives, and exporters.
FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC): A federal agency that
insures deposits in member banks and thrifts.
FEDERAL FARM CREDIT BANK (FFCB): The Federal Farm Credit Bank system
supports agricultural loans and issues securities and bonds in
financial markets backed by these loans. It has consolidated the
financing programs of several related farm credit agencies and
corporations.
FEDERAL FUNDS RATE: The rate of interest at which Fed funds are
traded. This rate is currently pegged by the Federal Reserve through
open-market operations.
FEDERAL AGRICULTURAL MORTGAGE CORPORATION (FAMC or Farmer Mac): A
stockholder owned, publicly-traded corporation that was established
under the Agricultural Credit Act of 1987, which added a new Title
VIII to the Farm Credit Act of 1971. Farmer Mac is a government
sponsored enterprise, whose mission is to provide a secondary market
for agricultural real estate mortgage loans, rural housing mortgage
loans, and rural utility cooperative loans. The corporation is
authorized to purchase and guarantee securities. Farmer Mac
guarantees that all security holders will receive timely payments of
principal and interest.
FEDERAL HOME LOAN BANK (FHLB): Government sponsored wholesale banks
(currently 12 regional banks), which lend funds and provide
correspondent banking services to member commercial banks, thrift
institutions, credit unions and insurance companies.
FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC or Freddie Mac): A
stockholder owned, publicly traded company chartered by the United
States federal government in 1970 to purchase mortgages and related
securities, and then issue securities and bonds in financial markets
backed by those mortgages in secondary markets. Freddie Mac, like its
competitor Fannie Mae, is regulated by the United States Department of
Housing and Urban Development (HUD).
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 13 of 17
FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA or Fannie Mae): FNMA, like
GNMA was chartered under the Federal National Mortgage Association Act
in 1938. FNMA is a federal corporation working under the auspices of
the Department of Housing and Urban Development (HUD). It is the
largest single provider of residential mortgage funds in the United
States. Fannie Mae is a private stockholder-owned corporation. The
corporation’s purchases include a variety of adjustable mortgages and
second loans, in addition to fixed-rate mortgages. FNMA’s securities
are also highly liquid and are widely accepted. FNMA assumes and
guarantees that all security holders will receive timely payment of
principal and interest.
FEDERAL RESERVE SYSTEM: The central bank of the United States created
by Congress and consisting of a seven-member Board of Governors in
Washington, D.C., 12 regional banks and about 5,700 commercial banks
that are members of the system.
FINANCIAL INDUSTRY REGULATORY AUTHORITY, INC. (FINRA): An independent,
not-for-profit organization authorized by Congress to protect
America’s investors by making sure the securities industry operates
fairly and honestly. It is dedicated to investor protection and
market integrity through effective and efficient regulation of the
securities industry. FINRA is the successor to the National
Association of Securities Dealers, Inc. (NASD).
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA or Ginnie Mae): A
government owned agency which buys mortgages from lending
institutions, securitizes them, and then sells them to investors.
Because the payments to investors are guaranteed by the full faith and
credit of the U.S. Government, they return slightly less interest than
other mortgage-backed securities.
INTEREST-ONLY STRIPS: A mortgage-backed instrument where the investor
receives only the interest, no principal, from a pool of mortgages.
Issues are highly interest rate sensitive, and cash flows vary between
interest periods. Also, the maturity date may occur earlier than that
stated if all loans within the pool are pre-paid. High prepayments on
underlying mortgages can return less to the holder than the dollar
amount invested.
INVERSE FLOATER: A bond or note that does not earn a fixed rate of
interest. Rather, the interest rate is tied to a specific interest
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 14 of 17
rate index identified in the bond/note structure. The interest rate
earned by the bond/note will move in the opposite direction of the
index. An inverse floater increases the market rate risk and modified
duration of the investment.
LEVERAGE: Investing with borrowed money with the expectation that the
interest earned on the investment will exceed the interest paid on the
borrowed money.
LIQUIDITY: A liquid asset is one that can be converted easily and
rapidly into cash without a substantial loss of value. In the money
market, a security is said to be liquid if the spread between bid and
asked prices is narrow and reasonable size can be done at those
quotes.
LOCAL AGENCY INVESTMENT FUND (LAIF): The aggregate of all funds from
political subdivisions that are placed in the custody of the State
Treasurer for investment and reinvestment.
MARKET VALUE: The price at which a security is trading and could
presumably be purchased or sold.
MASTER REPURCHASE AGREEMENT: A written contract covering all future
transactions between the parties to repurchase/reverse repurchase
agreements that establish each party’s rights in the transactions. A
master agreement will often specify, among other things, the right of
the buyer-lender to liquidate the underlying securities in the event
of default by the seller borrower.
MATURITY: The date upon which the principal or stated value of an
investment becomes due and payable.
MONEY MARKET: The market in which short-term debt instruments (bills,
commercial paper, bankers’ acceptances, etc.) are issued and traded.
MUTUAL FUNDS: An open-ended fund operated by an investment company
which raises money from shareholders and invests in a group of assets,
in accordance with a stated set of objectives. Mutual funds raise
money by selling shares of the fund to the public. Mutual funds then
take the money they receive from the sale of their shares (along with
any money made from previous investments) and use it to purchase
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 15 of 17
various investment vehicles, such as stocks, bonds, and money market
instruments.
MONEY MARKET MUTUAL FUNDS: An open-end mutual fund which invests only
in money markets. These funds invest in short term (one day to one
year) debt obligations such as Treasury bills, certificates of
deposit, and commercial paper.
PASSIVE INVESTING: An investment strategy involving limited ongoing
buying and selling actions. Passive investors will purchase
investments with the intention of long-term appreciation and limited
maintenance, and typically don’t actively attempt to profit from short
term price fluctuations. Also known as a buy-and-hold strategy.
PRIMARY DEALER: A designation given by the Federal Reserve System to
commercial banks or broker/dealers who meet specific criteria,
including capital requirements and participation in Treasury auctions.
These dealers submit daily reports of market activity and positions
and monthly financial statements to the Federal Reserve Bank of New
York and are subject to its informal oversight. Primary dealers
include Securities and Exchange Commission registered securities
broker/dealers, banks, and a few unregulated firms.
PRUDENT PERSON RULE: An investment standard. In some states the law
requires that a fiduciary, such as a trustee, may invest money only in
a list of securities selected by the custody state—the so-called legal
list. In other states the trustee may invest in a security if it is
one which would be bought by a prudent person of discretion and
intelligence who is seeking a reasonable income and preservation of
capital.
PUBLIC SECURITIES ASSOCIATION (PSA): A trade organization of dealers,
brokers, and bankers who underwrite and trade securities offerings.
QUALIFIED PUBLIC DEPOSITORIES: A financial institution which does not
claim exemption from the payment of any sales or compensating use or
ad valorem taxes under the laws of this state, which has segregated
for the benefit of the commission eligible collateral having a value
of not less than its maximum liability and which has been approved by
the Public Deposit Protection Commission to hold public deposits.
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 16 of 17
RANGE NOTE: An investment whose coupon payment varies and is dependent
on whether the current benchmark falls within a pre-determined range.
RATE OF RETURN: The yield obtainable on a security based on its
purchase price or its current market price. This may be the amortized
yield to maturity on a bond the current income return.
REGIONAL DEALER: A securities broker/dealer, registered with the
Securities & Exchange Commission (SEC), who meets all of the licensing
requirements for buying and selling securities.
REPURCHASE AGREEMENT (RP OR REPO): A holder of securities sells these
securities to an investor with an agreement to repurchase them at a
fixed price on a fixed date. The security “buyer” in effect lends the
“seller” money for the period of the agreement, and the terms of the
agreement are structured to compensate him for this. Dealers use RP
extensively to finance their positions. Exception: When the Fed is
said to be doing RP, it is lending money that is increasing bank
reserves.
SAFEKEEPING: A service to customers rendered by banks for a fee
whereby securities and valuables of all types and descriptions are
held in the bank’s vaults for protection.
SECONDARY MARKET: A market made for the purchase and sale of
outstanding securities issues following their initial distribution.
SECURITIES & EXCHANGE COMMISSION: Agency created by Congress to
protect investors in securities transactions by administering
securities legislation.
SEC RULE 15C3-1: See Uniform Net Capital Rule.
STRUCTURED NOTES: Notes issued by Government Sponsored Enterprises
(FHLB, FNMA, FAMCA, etc.), and Corporations, which have imbedded
options (e.g., call features, step-up coupons, floating rate coupons,
derivative-based returns) into their debt structure. Their market
performance is impacted by the fluctuation of interest rates, the
volatility of the imbedded options and shifts in the shape of the
yield curve.
OTAY WATER DISTRICT
BOARD OF DIRECTORS POLICY
Subject Policy
Number
Date
Adopted
Date
Revised
INVESTMENT POLICY 27 09/15/93 05/05/21
Page 17 of 17
TREASURY BILLS: A non-interest bearing discount security issued by the
U.S. Treasury to finance the national debt. Most bills are issued to
mature in three months, six months, or one year.
TREASURY BONDS: Long-term coupon-bearing U.S. Treasury securities
issued as direct obligations of the U.S. Government and having initial
maturities of more than 10 years.
TREASURY NOTES: Medium-term coupon-bearing U.S. Treasury securities
issued as direct obligations of the U.S. Government and having initial
maturities from two to 10 years.
UNIFORM NET CAPITAL RULE: Securities and Exchange Commission
requirement that member firms as well as nonmember broker-dealers in
securities maintain a maximum ratio of indebtedness to liquid capital
of 15 to 1; also called net capital rule and net capital ratio.
Indebtedness covers all money owed to a firm, including margin loans
and commitments to purchase securities, one reason new public issues
are spread among members of underwriting syndicates. Liquid capital
includes cash and assets easily converted into cash.
YIELD: The rate of annual income return on an investment, expressed as
a percentage. (a) INCOME YIELD is obtained by dividing the current
dollar income by the current market price for the security. (b) NET
YIELD or YIELD TO MATURITY is the current income yield minus any
premium above par or plus any discount from par in purchase price,
with the adjustment spread over the period from the date of purchase
to the date of maturity of the bond.
Investment
Policy
Review
Jon Ravaglioli
Finance Manager 1May 7, 2025
Attachment C
Policy Review
Purpose:
▪Annual Investment Policy Review
❑California Government Code Section 53646
▪Delegation of Investment Authority to CFO
❑California Government Code Section 53607
2
Investment Objectives
To invest public funds in a manner which will provide maximum security while
achieving the best possible interest return, meeting daily cash flow demands of the
entity, and complying with all state statutes governing public fund investments.
Objectives (in order of priority):
▪Safety
❑Safety of principal is the foremost objective of the investment program. Investments shall
be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. To attain this objective, the District will diversify its investments by investing
funds among a variety of securities offering independent returns and financial institutions.
▪Liquidity
❑The investment portfolio will remain sufficiently liquid to enable the District to meet all
operating requirements which might be reasonably anticipated.
▪Yield
❑The investment portfolio shall be designed with the objective of attaining a benchmark rate of return throughout budgetary and economic cycles, commensurate with the District’s investment risk constraints and the cash flow characteristics of the portfolio.
3
Safety
Liquidity
Yield
Portfolio Allocations
California Government Code restricts the types of securities the District can invest in, as
well as the amounts or percent of funds that can be allocated to each category. The
District overlays additional limits that are as strict or stricter in each category.
4
Portfolio Allocations
The District primarily invests in three types of securities:
▪US Treasuries
❑United States Treasury Bills, Bonds, Notes or those instruments for which the full faith and
credit of the United States are pledged for payment of principal and interest.
▪Government Agencies
❑Bonds, debentures, notes and other evidence of indebtedness issued by any of the following
government agency issuers like: Federal Home Loan Bank (FHLB), Federal Home Loan
Mortgage Corporation (Freddie Mac), Federal National Mortgage Association (Fannie Mae),
Federal Farm Credit Bank (FFCB).
▪LAIF
❑State-managed investment pool for California’s local governments and special districts,
managed by the State Treasurer.
5
Ladder Investment Approach
The District attempts to match its investments with anticipated cash flow requirements.
The approach is to keep a percentage highly liquid (e.g., LAIF), and a percentage in fixed
income with set maturity dates. These maturity dates are generally under 2 years. To
limit risk inherent in longer-term investments, the State of California has mandated a
max maturity of 5 years.
6
Maturity Value
FY25Q4 $5,000,000
FY26Q1 $9,000,000
FY26Q2 $9,500,000
FY26Q3 $3,000,000
FY27Q2 $9,500,000
FY27Q4 $2,000,000
Policy Reviews/Changes
Annual Reviews
▪The District reviews Investment Policy No. 27 annually to ensure compliance with any
legislative changes.
❑No legislative changes for the current fiscal year.
▪Each year, the District recertifies its authorized security brokers and dealers by
reviewing their latest audited financial statements, Financial Industry Regulatory
Authority (FINRA) record, registration, and insurance. As part of this process, brokers
must certify that they have read and understand the District’s Investment Policy and
suggest any recommended changes.
▪No recommended changes from this year’s broker review.
7
Delegation of Investment Authority
▪Authority for managing the Otay Water District’s investment program is derived from
California Government Code Section 53607.
▪The Board delegates investment management responsibility annually to the Chief
Financial Officer (CFO).
▪The CFO is then responsible for all transactions undertaken and establishes a system
of controls to regulate activities, as well as investment procedures aligned with policy.
8
Conclusion – Requesting that the Board:
Review and approve the 2025 Investment Policy No. 27
Re-delegate authority for all investment activities to the District’s Chief Financial Officer
9
Questions
10
1
STAFF REPORT
TYPE MEETING: Regular Board Meeting MEETING DATE: May 7, 2025
SUBMITTED BY: Tenille M. Otero PROJECT: Various DIV. NO. All
APPROVED BY: Jose Martinez, General Manager
SUBJECT: Approval of Funding and Term for Continued Participation in the Water Conservation Garden Authority (WCA) beginning July
1, 2025
GENERAL MANAGER’S RECOMMENDATION:
Approve a funding amount and term for continued participation in the Water Conservation Garden Authority (WCA) beginning July 1,
2025.
COMMITTEE ACTION:
No committee action.
PURPOSE: To obtain board approval to rescind the Otay Water District’s withdrawal letter from the WCA Joint Powers Agreement (JPA) and
to provide funding for a specific term to operate the Water Conservation Garden beginning July 1, 2025.
ANALYSIS: As a member of the WCA, the Otay Water District, along with
other members, has been working to assist with planning to assume operational control of the Water Conservation Garden
since March 2024, after the termination of the third-party contract operator. Much has been accomplished during this time, including budget development and implementation, establishing a formal volunteer program, administrative actions to establish accounting practices and employee policies, acquiring necessary
insurance, and hiring staff to support Garden operations. These efforts and accomplishments have resulted in the successful operation of the Garden during this interim period. Much work is still required to carry out the Garden’s mission and develop agreement amendments, alternate operating and membership
options, long-term operating plans, and more.
AGENDA ITEM 8b
During this transitional period, the WCA members voiced concerns over the cost of continued support for the Garden. As a result, all five contributing members, including the Helix Water District, Otay Water District, Sweetwater Authority, City of San
Diego, and San Diego County Water Authority, submitted letters of withdrawal per Article 17 of the Amended and Restated JPA
Creating the Water Conservation Garden Authority. The withdrawal means that the Garden will not have a funding source after June 30, 2025. The WCA board has discussed options for continued
funding support. Still, one agency, the Helix Water District, has committed to continue funding the Garden. Also, except for
Helix, none of the other WCA members have rescinded their withdrawal letters. At its March 19 board meeting, Helix’s board voted to continue funding the Garden beginning July 1, 2025, for
18 months through December 31, 2026, reverting to a 12-month term if other Garden WCA members give no substantial
participation commitment by June 30, 2025. Additionally, at the Otay Water District’s April 2 board
meeting, staff provided an update on the WCA JPA, and the board asked staff to make a recommendation at its May 7 board meeting.
The following option assumes these conditions on July 1, 2025: 1. The Helix Water District and Otay Water District are the sole contributing members. 2. The Water Conservation Garden Authority account balance is
approximately $350,000. 3. The current staffing levels are maintained. 4. The estimated baseline budget requires member agency contributions in the amount of approximately $526,000. This reflects the fiscal year 2024-25 budget with an
inflationary increase of 3.6% and assumes the same offsetting revenues from Garden operations of approximately $85,000. 5. If the Garden is returned to the Grossmont-Cuyamaca Community College District (GCCCD), final year operations
will be at a reduced level and lower estimated budget. Option 1: The Otay Water District will rescind its withdrawal letter and continue funding the operations of the Garden. As a WCA member, the District will contribute approximately $150,000
in fiscal year 2026. The amount of funding for the remaining six months (ending December 31, 2026) for fiscal year 2027 will be
determined upon others who may become members during that period and other funding sources the Garden may bring in.
Option 2: The District will not rescind its withdrawal letter and will not continue funding the operation of the Garden. The restructured operating plan would include possible new
members and different types of contributing members, expanded programs that would invite new membership on various
sustainability issues, and would try to position the Garden for continued operations. Suppose a sustainable plan is not developed before December 31, 2025. In that case, Otay will
provide an irrevocable notice to the GCCCD of the pending transfer on July 1, 2026, by an agreed-upon legal methodology
(MOU or new withdrawal letter). If the board moves forward with the approved recommendation, the
District and Helix (and any other members who rescind their withdrawal letters before June 30, 2025) will work with the
WCA’s legal counsel to evaluate whether a memorandum of understanding is required or whether the District should rescind the letter of withdrawal and move forward under the existing
agreement.
The collection and use of additional donations is not appropriate, as there is no long-term commitment that the Garden will remain open after the term of these options. FISCAL IMPACT: Joe Beachem, Chief Financial Officer
The FY 2026 budget includes this amount for the Water
Conservation Garden. STRATEGIC GOAL: Enhance customer and community engagement to increase public
awareness of the water industry and the District while providing superior customer service. LEGAL IMPACT: None.
RESOLUTION NO. 4454
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
OTAY WATER DISTRICT
PLACING IN NOMINATION JOSE MARTINEZ
AS A MEMBER OF THE ASSOCIATION OF CALIFORNIA WATER AGENCIES
REGION 10 BOARD MEMBER
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE OTAY WATER DISTRICT
AS FOLLOWS:
A.Recitals
(i)The Board of Directors (Board) of the Otay Water District does encourage and
support the participation of its members in the affairs of the Association of California Water
Agencies (ACWA).
(ii)General Manager, Jose Martinez is currently serving as a board member for ACWA
Region 10.
B.Resolves
NOW THEREFORE, BE IT RESOLVED THAT THE BOARD OF DIRECTORS OF THE
OTAY WATER DISTRICT,
(i)Does place its full and unreserved support in the nomination of Jose Martinez for the
Board Member of ACWA Region 10.
(ii)Does hereby determine that the expenses attendant with the service of Jose
Martinez in ACWA Region 10 shall be borne by the Otay Water District.
PASSED, APPROVED, AND ADOPTED by the Board of Directors of the Otay Water
District at a regular meeting held this 7th day of May, 2025.
Ayes:
Noes:
Abstain:
Absent:
__________________________________
President
ATTEST:
_____________________________
District Secretary
AGENDA ITEM 8c
I, Tita Ramos-Krogman, District Secretary to the Board of Directors of Otay Water District,
hereby certify that the foregoing Resolution No. 4454 was introduced at a regular meeting of the
Board of Directors of said District, held on the 7th day of May, 2025, and was adopted at that meeting
by the following roll call vote:
Ayes:
Noes:
Abstain:
Absent:
___________________________________
Tita Ramos-Krogman, District Secretary
STAFF REPORT
TYPE MEETING: Regular Board MEETING DATE: May 7, 2025
SUBMITTED BY: Kevin Koeppen Assistant Chief of Finance
PROJECT: Various DIV. NO. ALL
APPROVED BY: Joe Beachem, Chief of Finance
Jose Martinez, General Manager
SUBJECT: Adopt Resolution No. 4453 Amending Section 25 of the District’s Code of Ordinances to incorporate “Establishing a
Procedure for Ratepayer Objections to Proposed Water and Sewer Fees and Charges”
GENERAL MANAGER’S RECOMMENDATION:
That the Board Adopt Resolution No. 4453 amending Section 25 of the
District’s Code of Ordinances to incorporate “Establishing a Procedure for Ratepayer Objections to Proposed Water and Sewer Fees
and Charges.”
PURPOSE:
The purpose of this item is to request that the Board adopt
Resolution No. 4453 amending Section 25 of the District’s Code of Ordinances to incorporate “Establishing a Procedure for Ratepayer Objections to Proposed Water and Sewer Fees and Charges.”
ANALYSIS:
Proposition 218 established procedural requirements and limitations
that agencies must follow when adopting property-related fees for water or sewer service. Assembly Bill 2257 (2024) authorizes agencies to adopt a procedure that requires any legal objections to a fee
structure to be timely made in writing and allows the District to
AGENDA ITEM 8d
2
respond to and resolve any objections prior to the Board adopting
proposed rates. Adopting this procedure will protect the District against unanticipated legal challenges to its fee structure and will ensure a clear administrative record of the basis for, and any legal
objections to, the fee structure.
The District’s current budgeting and rate-setting process includes adopting water and sewer fees and charges in accordance with procedures outlined in Article XIII D of the California Constitution,
commonly referred to as “Proposition 218.” Proposition 218 establishes certain procedural requirements and substantive
limitations that local public agencies must follow to adopt a property-related fee, charge, or assessment (“fee”) for water or sewer service.
Staff recommends that the Board adopt Resolution No. 4453, which
establishes an exhaustion of administrative remedies procedure (“exhaustion procedure”) consistent with Assembly Bill No. 2257 (2024) (chaptered at Government Code sections 53759.1 and 53759.2). The exhaustion procedure allows ratepayers to raise legal objections to a proposed fee structure to the District’s attention early in the
fee consideration process, providing the District with an opportunity to address or resolve any objections before the District’s Board of Directors makes a final decision on whether to adopt a proposed fee pursuant to Proposition 218. The exhaustion procedure requires that a customer present any legal objections to the fee prior to that fee’s
adoption to preserve any legal right to later pursue legal action against the District regarding the fee structure. Under the exhaustion procedure, the District will generally:
• Notify the public of the amount of the proposed fee;
• Make publicly available (including on the District’s website) the District’s written basis for the proposed fee;
• Provide a 45-day period for ratepayers to review the proposed fee and its basis and make any legal objections;
• Require that any legal objection be submitted in writing to the
District and specify the grounds for alleged noncompliance with Proposition 218; and
• Require that the District consider and respond in writing to any timely-submitted legal objections prior to the close of the protest hearing required under Proposition 218. In connection with the District’s consideration of water or sewer
rate increases, the Board will determine at the hearing whether:
3
• The written objections and the District’s response warrant clarifications to the proposed fee or assessment or the Cost of Service Report;
• The proposed fee or assessment should be reduced;
• Further review of the Cost of Service Report and proposed fee or assessment is necessary before making a determination on whether clarification or reduction is needed; and
• The protest hearing or ballot tabulation hearing, as required
under Sections 4 or 6 of Article XIII D of the California Constitution, should proceed.
Approximately 15 days will be added to the 45-day window required under the District’s traditional Proposition 218 notice and protest
procedures. These additional days will allow for time to respond in writing to all written objections, as required under AB 2257.
Adopting this procedure will protect the District against unanticipated legal challenges to its fee structure and will ensure a
well-documented administrative record of the basis for, and any legal objections to, the fee structure.
FISCAL IMPACT: Joe Beachem, Chief Financial Officer
None STRATEGIC GOAL:
The District ensures its continued financial health through long-term financial and debt planning. LEGAL IMPACT:
None
Attachments: Attachment A – Committee Action Attachment B – Resolution No. 4453
Exhibit I Strike-through Section 25 Exhibit II Proposed Section 25
ATTACHMENT A
SUBJECT/PROJECT:
Adopt Resolution No. 4453 Amending Section 25 of the District’s Code of Ordinances to incorporate “Establishing a Procedure for Ratepayer Objections to Proposed Water and Sewer Fees and Charges”
COMMITTEE ACTION:
This item was presented to the Finance & Administration Committee at a
meeting held on April 15, 2025, and the following comments were made:
• Staff provided the staff report to the Committee and introduced
Ms. Claire Collins, Counsel from Hanson Bridgett, LLP, who responded
to questions and comments from the Committee. Ms. Collins stated
that the amendment promotes government efficiencies and also
provides a safe harbor for public agencies in setting their rates.
She also noted that she personally worked with Associaion of
California Water Agencies’ Legal Affairs Committee to have this
option available to agencies.
• The Committee noted that the redlined language in Exhibit I of the
staff report is based on legislation that recently passed.
• The Committee directed staff to reach out to Raftelis Financial
Consultants and ask if they have any input on staff’s proposed
establishment and procedure for ratepayer objections to proposed
water and sewer fees and charges. Raftelis has not taken an
official position on AB2257. They have been explaining the process
to their clients so that the client may make a determination on
whether their agency will implement an administrative exhaustion
process.
Upon completion of the discussion, the Committee supported staffs’ recommendation and presentation to the full board as an action item.
RESOLUTION NO. 4453
A RESOLUTION OF THE BOARD OF DIRECTORS OF
THE OTAY WATER DISTRICT TO AMEND SECTION 25
OF THE DISTRICT’S CODE OF ORDINANCES
ESTABLISHING A PROCEDURE FOR
RATEPAYER LEGAL OBJECTIONS TO
PROPOSED WATER AND SEWER FEES AND CHARGES
WHEREAS, the Otay Water District Board of Directors has
been presented with a resolution “ESTABLISHING A PROCEDURE FOR
RATEPAYER LEGAL OBJECTIONS TO PROPOSED WATER AND SEWER FEES AND
CHARGES” authorizing the establishment of an administrative
remedies procedure (“exhaustion procedure”); and
WHEREAS, the Otay Water District is a Municipal Water
District (“District”), formed pursuant to Water Code Section 711
et seq. and provides water and sewer service to its retail
customers; and
WHEREAS, California law requires that certain changes to
retail water and sewer fees and charges be adopted in accordance
with procedures outlined in Article XIII D, of the California
Constitution, commonly referred to as “Proposition 218;" and
WHEREAS, Proposition 218 establishes certain procedural
requirements and substantive limitations that a local public
agency must follow to adopt a property-related fee, charge, or
assessment (“fee”) for water or sewer service; and
Attachment B
WHEREAS, this resolution is intended to adopt an exhaustion
procedure consistent with Assembly Bill No. 2257 (2024)
(chaptered at Government Code sections 53759.1 and 53759.2).
The exhaustion procedure allows ratepayers to bring a legal
objection regarding the proposed fee to the District’s attention
early in the fee consideration process, and provides an
opportunity for the District to address or resolve any
objections before the District’s Board of Directors makes a
final decision on whether to adopt a proposed fee pursuant to
Proposition 218. The exhaustion procedure requires ratepayers to
participate in the pre-adoption objection process in order to
preserve a legal right to sue the District regarding the fee
structure.
WHEREAS, the proposed exhaustion procedure will generally
require the District to: notify the public of the amount of the
proposed fee, make the District’s written basis for the proposed
fee publicly available (including on the District’s website),
provide 45 days for any ratepayer to review the proposed fee and
its basis and make any legal objection, require any such
objection to be in a writing to the District that specifies the
grounds for alleged noncompliance with Proposition 218, and
require the District to consider and respond in writing to
timely submitted objections prior to the close of the protest
hearing required under Proposition 218; and
WHEREAS, the Otay Water District Board of Directors has
been presented with an amended Section 25 of the District’s Code
of Ordinances for the conditions for water service of the Otay
Water District; and
WHEREAS, the amended Section 25 has been reviewed and
considered by the Board, and has determined that it is in the
interest of the District to adopt the amended Section 25; and
WHEREAS, the strike-through copy of the proposed policy is
attached as Exhibit I to this resolution; and
NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED by
the Board of Directors of the Otay Water District that the
amended Section 25, attached as Exhibit II, is hereby adopted
and the following is ordered:
1.The District Board hereby adopts the exhaustion of
administrative remedies procedure contained in Government
Code section 53759.1(c), as further described below.
2.In connection with the District’s consideration of water or
sewer rate increases, the District Board hereby directs the
staff to take the following actions:
a.Public Hearing Date. Establish a date certain for a
public hearing on any proposed water or sewer rates,
at which hearing the staff shall present a summary of
any written legal objections from the public during
the objection period and responses from staff to those
objections. The Board may consider any protests to
the proposed fee increases on the same or a different
date, but only after considering all objections and
responses. The Board may continue the hearing from
time-to-time in order to provide additional time for
consideration of, and responses to, any timely-
submitted legal objections and/or protests.
b.Cost of Service Report. Make available to the public
the written basis for the proposed fee or assessment
(the “Cost of Service Report”) by:
i.posting it on the District’s website,
ii.making it available at the headquarters of the
District, and
iii.mailing it to any property owner upon request.
c.Objection Period. Establish a time frame for an
“objection period” of not less than 45 days between
mailing of the notice described below and the public
hearing, during which period the public may submit a
written legal objection to any aspect of the Cost of
Service Report.
d.Public Notice. Notify the public in writing of the
availability of the Cost of Service Report in the
notice sent pursuant to subdivision (c) of Section 4
or paragraph (1) of subdivision (a) of Section 6 of
Article XIII D of the California Constitution, and
include in that notice:
i.a prominently displayed statement that all
written legal objections must be submitted within
the written objection period and that a failure
to timely object in writing bars any right to
challenge that fee or assessment through a legal
proceeding; and
ii.a prominently displayed description of all
substantive and procedural requirements for
submitting a legal objection to the proposed fee
or assessment; and
iii.the process for submitting protests.
3.In connection with the District’s consideration of water or
sewer rate increases, the District Board will determine at
the hearing:
a.Whether the written legal objections and the
District’s response warrant clarifications to the
proposed fee or assessment or the Cost of Service
Report.
b.Whether to reduce the proposed fee or assessment.
c.Whether to further review the Cost of Service Report
and proposed fee or assessment before making a
determination on whether clarification or reduction is
needed.
d.Whether to proceed with the protest hearing or ballot
tabulation hearing required under Section 4 or 6 of
Article XIII D of the California Constitution.
4.This resolution will take effect immediately and will apply
to any proposed water or sewer fees for which notice is
provided pursuant to Proposition 218.
5.Pursuant to Government Code sections 53759.1 and 53759.2, a
person or entity will be prohibited from bringing a
judicial action or proceeding that alleges non-compliance
with Proposition 218 for any new, increased, or extended
fee adopted by the District, unless that person or entity
has timely submitted to the District a written legal
objection to that fee that specifies the grounds for the
alleged non-compliance.
6.The Board authorizes District staff to take such other and
additional actions as may be reasonably necessary to
implement the purpose of this resolution and implement the
exhaustion procedure.
PASSED, APPROVED and ADOPTED by the Board of Directors of the
Otay Water District at a board meeting held this 7th day of May
2025, by the following vote:
Ayes:
Noes:
Abstain:
Absent:
________________________
President
ATTEST:
____________________________
District Secretary
APPROVED AS TO FORM:
Claire Hervey Collins, Special Counsel
Hanson Bridgett LLP
25-1
25 SECTION 25 CONDITIONS FOR WATER SERVICE
25.01 SERVICE AREA
Water service shall be furnished by the District only to
property within (annexed to) a water improvement district within
the District’s service area. Water service to property located
outside an improvement district may be furnished only upon prior
approval of the Board of Directors. Temporary water service to
property located outside an improvement district may be
furnished, in accordance with Section 25.03 D.15., upon the
approval of the General Manager.
25.02 DEFINITION OF "HCF" AND "UNIT OF WATER"
As used in the Code the terms "HCF" and "unit of water" are
interchangeable and each shall mean 100 cubic feet or 748
gallons of water.
25.03 DEFINITIONS OF WATER SERVICE CATEGORIES, WATER RATES, CHARGES
AND FEES
Water service furnished by the District shall be under the
categories of services and at the rates, charges and fees as set
forth in Appendix A, Section 25.
All District water rates, charges and fees are subject to Board
approval of rate increases beginning January 1, 2023 and
periodically thereafter through December 31, 2027. The
increases shall be the amount sufficient to cover pass-through
costs from wholesale water and energy suppliers, and increases
in overall non-supplier costs, in addition to increases in pass-
through costs, not to exceed the annual increase in the Consumer
Price Index-U for the San Diego-Carlsbad Area as of January 31
of the preceding year.
Five-year periodic pass–through rate increases or decreases from
District wholesalers – All District water rates, charges and
fees are subject to periodic rate changes from the District’s
public agency wholesalers for a five-year period beginning
January 1, 2023 through December 31, 2027.
A.Set-up Fees for Accounts A set-up fee shall be charged for
each account transferred to another customer. See Appendix
A, 25.03 A. for charges. A deposit will be required of all
customers who do not own the property to be served. See
Appendix A, 25.04 A. for deposit amounts.
B.Monthly Fixed MWD & CWA Charges Each potable water service
customer shall pay a monthly MWD and CWA fixed system
charge, as set forth in Appendix A, 25.03 B. Proceeds of
the charge will be used to pay for operating and
maintenance costs, including the following: MWD Readiness-
Exhibit I
25-2
to-Serve Charge and Capacity Reservation Charge; CWA
Infrastructure Access Charge, Customer Service Charge,
Emergency Storage Charge, and Supply Reliability Charge.
The MWD & CWA charge is based on the size of the water
meter(s) in service with the exception of upsizing the
meter for individually metered residential fire service, as
described in Section 38.03 of the Code. The MWD & CWA
charge shall start upon installation of the meter.
C.Monthly Fixed System Charges Each water service customer
shall pay a monthly fixed system charge, as set forth in
Appendix A, 25.03 C. Proceeds of the charge will be used
to pay for water system replacement, maintenance, and
operation expenses. The system charge is based on the
customer class and the size of the water meter(s) in
service. For individually metered residential fire
service, as outlined in Section 38.03 of the Code, the size
and fee would be set based on water use requirements
without additional fire capacity. The system charge shall
start upon installation of the meter.
D.Categories of Water Service The definitions and rates and
charges for water service furnished by the District shall
be as follows:
1.DOMESTIC RESIDENTIAL WATER
(a)Defined as: Water service for single residential
and individually metered attached households as
well as other domestic uses (other than that
provided for in Paragraph 2.(a)).
(b) Base Rate: The tiered base rates of water
furnished under this category shall be set forth
in Appendix A, 25.03 D.1.(b).
(c) Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.1.
2.MULTI-RESIDENTIAL WATER
(a)Defined as: Master metered water service for
multiple residential households, for example,
duplexes, townhomes, apartments, and mobile
homes.
(b)Base Rate: The tiered base rates of water
furnished for each dwelling unit in this category
shall be as set forth in Appendix A, 25.03
D.2.(b).
(c) Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.2.
25-3
3.BUSINESS AND COMMERCIAL WATER
(a)Defined as: Potable water service for commercial
and industrial establishments.
(b)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.3.(b).
(c) Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.3.
4.NON-PUBLIC IRRIGATION AND COMMERCIAL AGRICULTURE USING
POTABLE WATER
(a)Non-public irrigation is potable water service
provided solely for irrigation of landscape or
landscaping, as defined in Section 0.02 of this
Code.
(b) Commercial agricultural engaged in the growing or
raising of livestock, in conformity with
recognized practices of husbandry, for the
purpose of commerce, trade or industry, or
agricultural horticultural or floricultural
products and produced,
(i) for human consumption or for the market,
or
(ii)for the feeding of fowl or livestock
produced for human consumption or for the
market, or
(iii) for feeding fowl or livestock for the
purpose of obtaining their products for
human consumption or for the market, such
products to be grown or raised on a
parcel of land having an area of not less
than one acre utilized exclusively
therefore.
(c)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.4.(c).
(d) Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.4.
5.PUBLICLY-OWNED WATER
(a)Defined as: Potable water service for publicly-
owned establishments and/or entities exempt from
District property taxes.
25-4
(b)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.5.(b).
(c) Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.5.
6.PUBLIC IRRIGATION WATER
(a)Defined as: Potable water service provided
solely for irrigation of publicly-owned landscape
or landscaping as defined in Section 0.02 of this
Code and/or entities exempt from District
property taxes.
(b)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.6.(b).
(c) Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.6.
7.CONSTRUCTION WATER
(a)Defined as: Potable water service for
construction or for temporary purposes pursuant
to Section 31 of this Code.
(b)The rates for water furnished under this category
is set forth in Appendix A, 25.03 D.7.(b).
(c)Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.7.
8.RECYCLED WATER – NON-PUBLIC IRRIGATION, CONSTRUCTION,
AND CERTAIN NON-IRRIGATION PURPOSES
(a)Defined as: Non-potable and recycled water service
provided for irrigation of landscaping, as defined
in Section 0.02 of the Code, and certain non-
irrigation purposes, other than domestic use, in
compliance with federal, state, and local laws and
regulations regarding use of recycled water.
(b)The provisions of this Code, relating to use of
recycled water, set forth in Section 26 of the Code,
including but not limited to cross-connections and
backflow protective devices, shall be strictly
enforced in connection with the use of recycled
water.
25-5
(c)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.8.(c).
(d) Monthly system charge: The monthly system charge
for recycled water service is set forth in
Appendix A, 25.03 C.8.
9.RECYCLED WATER - COMMERCIAL
(a)Defined as: Non-potable and recycled water service
provided for commercial customers, as defined in
Section 0.02 of the Code, and certain non-irrigation
purposes, other than domestic use, in compliance
with federal, state and local laws and regulations
regarding use of recycled water.
(b)The provisions of this Code, relating to use of
recycled water, set forth in Section 26 of the Code,
including but not limited to cross-connections and
backflow protective devices, shall be strictly
enforced in connection with the use of recycled
water.
(c)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.9.(c).
(d) Monthly system charge: The monthly system charge
for recycled water service is set forth in
Appendix A, 25.03 C.8.
10.RECYCLED WATER – PUBLIC IRRIGATION
(a)Defined as: Non-potable and recycled water service
provided for irrigation of publicly-owned
landscaping, as defined in Section 0.02 of the Code,
and/or entities exempt from District property taxes,
and certain non-irrigation purposes, other than
domestic use, in compliance with federal, state and
local laws and regulations regarding use of recycled
water.
(b)The provisions of this Code, relating to use of
recycled water, set forth in Section 26 of the Code,
including but not limited to cross-connections and
backflow protective devices, shall be strictly
enforced in connection with the use of recycled
water.
(c)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.10.(c).
25-6
(d) Monthly system charge: The monthly system charge
for recycled water service is set forth in
Appendix A, 25.03 C.8.
11.POTABLE INTERIM BUSINESS AND COMMERCIAL WATER
(a) Defined as: Potable water service provided by
the District on a temporary basis to business and
commercial customers in Improvement District 7
(ID 7) pursuant to individual agreements.
(b)If capacity fees have not been paid by the
customer, the rates for water furnished under
this category is set forth in Appendix A, 25.03
D.11.(b).
(c)If the customer has paid equivalent capacity and
annexation fees, the rates and charges for water
furnished under this category shall be the rates
set forth in Appendix A, 25.03 D.3.(b).
(d)The applicable monthly system charge shall be the
same rates charged to customers in the same
category of service on a permanent meter basis
per Appendix A, 25.03 C.3.
(e)Conversion to Permanent Service. At such time as
use expires, the customer shall be required to
pay all unpaid fees in effect at the time the
permanent use is implemented.
12.POTABLE INTERIM NON-PUBLIC IRRIGATION AND COMMERCIAL
AGRICULTURE WATER
(a) Defined as: Potable water service provided by
the District on a temporary basis to non-public
irrigation and commercial agriculture customers
in Improvement District 7 (ID 7).
(b)If capacity fees have not been paid by the
customer, the rates for water furnished under
this category is set forth in Appendix A, 25.03
D.12.(b).
(c)If the customer has paid capacity and annexation
fees, the rates and charges for water furnished
under this category shall be the rates set forth
in Appendix A, 25.03 D.4.(c).
(d)The applicable monthly system charge shall be the
same rates charged to customers in the same
category of service on a permanent meter basis
per Appendix A, 25.03 C.4.
(e)Conversion to Permanent Service. At such time as
25-7
use expires, the customer shall be required to
pay all unpaid fees in effect at the time the
permanent use is implemented.
13.TANK TRUCKS
(a)Defined as: Water service provided for the
filling of tanks on motor vehicles transporting
water used for other than earth grading purposes,
which service shall be made only through a
portable meter issued by the District to a
customer specifically for use in accordance with
the provisions herein for such service.
(b)The rate for metered water furnished under this
category is reflected in Appendix A, 25.03.D.13.
(b), plus a monthly system charge at the rate set
forth in Appendix A, 25.03 C.4.
(c)Requirements for Use of Water Meter
(1)To receive such service, the customer must
make a deposit for the use a water meter
furnished by the District. The fee is set
forth in Appendix A, 31.03 A.1.
(2)Upon termination of the service, the Dis-
trict will refund the amount of deposit
remaining after making the following
deductions:
(i)Cost of repairing or replacing the
meter, fire hydrant and/or any fittings
damaged or lost while in use; and
(ii)Unpaid charges for water or other
applicable charges.
(3)Prior to the end of each six month period
following issuance of a meter under this
section, or at the request of the District,
whichever is earlier, the customer shall
return the meter to the District for
inspection, repair, or calibration as deemed
necessary by the District.
(4)Payment for water service under this cate-
gory shall be made as follows:
(i)The bill shall be based on the amount
of water actually used, which shall be
determined by the District’s reading of
the meter or by a report made by the
customer to the District in the manner
prescribed by the District.
25-8
(ii) Where the actual amount of water used
cannot be determined as provided in
(i), the District will issue a bill
based on a District estimate of the
amount of water used, as determined by
the District. Such estimates shall be
reconciled with actual amounts used
when the customer returns the meter to
the District as provided in paragraph 3
above.
(iii)Payments shall be made as specified on
the bill.
14.WATER SERVICE OUTSIDE DISTRICT BOUNDARIES
(a)Defined as: Water service for real property
outside the service area of the District.
(b)This service will be provided only upon prior
approval of the General Manager when there is a
surplus of water over and above the existing
needs for service in the District. This service
is temporary and may be terminated upon written
notice from the District. Customers for this
service are sometimes referred to as "outside
users."
(c)Customers applying for this category of service
shall pay an application fee as set forth in
Appendix A, 25.03 D.14.(c).
(d)The rate for metered water furnished under this
category shall be charged the rate as described
in Appendix A, 25.03 D.14.(d), plus a monthly
system charge at the rate set forth in Appendix
A, 25.03 C.5.
(e)Customers requesting only fire service or a fire
hydrant under this category shall be charged a
capacity fee based on one (1) EDU for a permanent
meter in the improvement district from which the
fire service derives its flow, plus a monthly
system charge at the rate set forth in Appendix
A, 25.03 D.16.(c).
15.WATER SERVICE OUTSIDE AN IMPROVEMENT DISTRICT
(a)Defined as: Water service for property located
within the boundaries of the District, but not
within a water improvement district. Customers
for this service are sometimes referred to as
"outside users."
25-9
(b)Customers applying for this service shall pay an
application fee as set forth in Appendix A, 25.03
D.15.(b). The District will review the
application to determine whether the land to be
served should be annexed to an improvement
district. If it is determined that annexation is
not practical, the Board of Directors may
authorize service as an outside user. This
service will be reviewed periodically until it is
determined that the property must be annexed to
an improvement district or that service must be
terminated.
(c) The rate for metered water furnished under this
category is as set forth in Appendix A, 25.03
D.15.(c), plus a monthly system charge as set
forth in Appendix A, 25.03 C.5.
(d)Upon approval of the Board of Directors, a cus-
tomer, who has paid all construction costs for
facilities necessary to serve the customer's
property in lieu of annexation to a water
improvement district, shall be exempt from the
provision for this category of service.
16.SERVICE FOR FIRE PROTECTION
(a)Defined as: Water service provided by the Dis-
trict solely to feed fire hydrants or fire
sprinkler systems from lines or laterals con-
nected to District water mains.
(b)The District will not make a charge for the
quantity of water used for fire protection
purposes.
(c)The monthly system charge for this category
of service is set forth in Appendix A, 25.03
D.16.(c) for each connection to a District water
main made for fire protection service.
17.WATER SERVICE UNDER SPECIAL AGREEMENTS
(a)Defined as: Water service provided under express
agreements approved by the Board of Directors for
service to golf courses and other entities, which
service may be curtailed or interrupted by the
District under conditions provided in such
agreements.
(b)For water service under this category the base
rate shall be determined on a case-by-case basis.
E.Energy Charges for Pumping Water
25-10
In addition to water rates and other charges provided for
in this Section 25.03, customers shall be charged an energy
pumping charge based on the quantity of water used and the
elevation to which the water has been lifted to provide
service.
1.Potable Water Energy Pumping Charge: The energy
pumping charge for potable water shall be made at the
rate set forth in Appendix A, 25.03 E.1.
2.Recycled Water Energy Pumping Charge: The energy
pumping charge for recycled water shall be made at the
rate set forth in Appendix A, 25.03 E.2.
25.04 DEPOSITS BY LESSEES OR NON-OWNERS OF PROPERTY
A.AMOUNT OF DEPOSIT
The customer's deposit shall be applied to reduce or
satisfy any delinquent payment or other amount due the
District at the time of termination of water service to
the customer. Any portion of the deposit remaining, after
satisfaction of the amount due, shall be refunded to the
customer that made the deposit.
The deposits listed per Appendix A, 25.04 A. may be waived
for a new residential applicant where the applicant
demonstrates credit worthiness based upon prior utility
payments or a non-delinquent water account for one year or
other similar evidence of credit.
B.REFUND OF DEPOSIT
Where funds have been on deposit for twelve months in a
domestic service account and there has been no more than
one delinquent payment on that account during that period,
the District will apply a credit to the water account in
the amount of the deposit.
C.LETTER OF CREDIT
A letter of credit, in a form approved by the General
Manager or Department Head of Finance, may be submitted to
the District to satisfy the deposit requirements.
25.05 SERVICE TO SUBSEQUENT CUSTOMERS
After a water meter has been installed for a customer and all
fees and charges have been paid, water service may be furnished
to a subsequent customer through the water meter installed
without payment of further charges, except for the set-up fee
25-11
for transferred accounts, payment of delinquent charges for the
applicant's service or other deposits that may be required by
this Code.
25.06 PUBLIC NOTIFICATION AND LEGAL OBJECTION PROCESS FOR RATE CHANGES
California law requires that certain changes to retail water and
sewer fees and charges be adopted in accordance with procedures
outlined in Article XIII D, of the California Constitution,
commonly referred to as “Proposition 218." Additionally, the
Otay Water District has established a formal process, an
exhaustion of administrative remedies procedure (“exhaustion
procedure”) consistent with Assembly Bill No. 2257 (2024)
(chaptered at Government Code sections 53759.1 and 53759.2). The
exhaustion procedure allows ratepayers to raise legal objections
regarding proposed water or sewer rate increases. This process
ensures that ratepayers have an opportunity to voice legal
objections to a proposed property-related fee, charge, or
assessment (“fee”) for water or sewer service, and provides an
opportunity for the District to address or resolve any legal
objections before the Board of Directors makes a final decision
on whether to adopt a proposed fee pursuant to Proposition 218.
The exhaustion procedure outlined below provides a structured
framework and requires ratepayers to participate in the pre-
adoption legal objection process in order to preserve the legal
right to bring forward any judicial action or proceeding against
the District regarding the fee structure.
A.GENERAL DISTRICT REQUIREMENTS PER THE EXHAUSTION PROCEDURE
1.District will notify the public of the amount of the
proposed fee by way of the Proposition 218 notice
mailed to all customers and/or owners of record,
2.Make the District’s written basis for the proposed fee
(including any cost of service report) publicly
available (including on the District’s website),
3.Provide 45 days for any ratepayer to review the
proposed fee and its basis and make any legal
objection,
4.Require any such objection to be in a writing to the
District that specifies the grounds for alleged
noncompliance with Proposition 218, and
5.Require the District to consider and respond in
writing to timely submitted objections prior to the
close of the protest hearing required under
Proposition 218.
B.BOARD ACTIONS AND PUBLIC PARTICIPATION
1.The District Board hereby adopts the exhaustion of
administrative remedies procedure contained in
25-12
Government Code section 53759.1(c), as further
described below.
2.In connection with the District’s consideration of
water or sewer rate increases, the District Board
hereby directs the staff to take the following
actions:
(a)Public Hearing Date. Establish a date certain for
a public hearing on any proposed water or sewer
rates, at which hearing the staff shall present a
summary of any written legal objections from the
public during the objection period and responses
from staff to those objections. The Board may
consider any protests to the proposed fee
increases on the same or a different date, but
only after considering all objections and
responses. The Board may continue the hearing
from time-to-time in order to provide additional
time for consideration of, and responses to, any
timely-submitted legal objections and/or
protests.
(b)Cost of Service Report. Make available to the
public the written basis for the proposed fee or
assessment (the “Cost of Service Report”) by:
(i)posting it on the District’s website,
(ii)making it available at the headquarters
of the District, and
(iii)mailing it to any property owner upon
request.
(c)Objection Period. Establish a time frame for an
“objection period” of not less than 45 days
between mailing of the notice described below and
the public hearing, during which period the
public may submit a written legal objection to
any aspect of the Cost of Service Report.
(d)Public Notice. Notify the public in writing of the
availability of the Cost of Service Report in the
notice sent pursuant to subdivision (c) of
Section 4 or paragraph (1) of subdivision (a) of
Section 6 of Article XIII D of the California
Constitution, and include in that notice:
(i)a prominently displayed statement that
all written legal objections must be
submitted within the written objection
period and that a failure to timely
25-13
object in writing bars any right to
challenge that fee or assessment through
a legal proceeding; and
(ii)a prominently displayed description of
all substantive and procedural
requirements for submitting an objection
to the proposed fee or assessment; and
(iii)the process for submitting protests.
3.In connection with the District’s consideration of
water or sewer rate increases, the District Board will
determine at the hearing:
(a)Whether the written legal objections and the
District’s response warrant clarifications to the
proposed fee or assessment or the Cost of Service
Report.
(b)Whether to reduce the proposed fee or assessment.
(c)Whether to further review the Cost of Service
Report and proposed fee or assessment before
making a determination on whether clarification
or reduction is needed.
(d)Whether to proceed with the protest hearing or
ballot tabulation hearing required under Section
4 or 6 of Article XIII D of the California
Constitution.
4.This exhaustion procedure will apply to any proposed
water or sewer fees for which notice is provided
pursuant to Proposition 218.
5.Pursuant to Government Code sections 53759.1 and
53759.2, a person or entity will be prohibited from
bringing a judicial action or proceeding that alleges
non-compliance with Proposition 218 for any new,
increased, or extended fee adopted by the District,
unless that person or entity has timely submitted to
the District a written legal objection to that fee
that specifies the grounds for the alleged non-
compliance.
25-1
25 SECTION 25 CONDITIONS FOR WATER SERVICE
25.01 SERVICE AREA
Water service shall be furnished by the District only to
property within (annexed to) a water improvement district within
the District’s service area. Water service to property located
outside an improvement district may be furnished only upon prior
approval of the Board of Directors. Temporary water service to
property located outside an improvement district may be
furnished, in accordance with Section 25.03 D.15., upon the
approval of the General Manager.
25.02 DEFINITION OF "HCF" AND "UNIT OF WATER"
As used in the Code the terms "HCF" and "unit of water" are
interchangeable and each shall mean 100 cubic feet or 748
gallons of water.
25.03 DEFINITIONS OF WATER SERVICE CATEGORIES, WATER RATES, CHARGES
AND FEES
Water service furnished by the District shall be under the
categories of services and at the rates, charges and fees as set
forth in Appendix A, Section 25.
All District water rates, charges and fees are subject to Board
approval of rate increases beginning January 1, 2023 and
periodically thereafter through December 31, 2027. The
increases shall be the amount sufficient to cover pass-through
costs from wholesale water and energy suppliers, and increases
in overall non-supplier costs, in addition to increases in pass-
through costs, not to exceed the annual increase in the Consumer
Price Index-U for the San Diego-Carlsbad Area as of January 31
of the preceding year.
Five-year periodic pass–through rate increases or decreases from
District wholesalers – All District water rates, charges and
fees are subject to periodic rate changes from the District’s
public agency wholesalers for a five-year period beginning
January 1, 2023 through December 31, 2027.
A.Set-up Fees for Accounts A set-up fee shall be charged for
each account transferred to another customer. See Appendix
A, 25.03 A. for charges. A deposit will be required of all
customers who do not own the property to be served. See
Appendix A, 25.04 A. for deposit amounts.
B.Monthly Fixed MWD & CWA Charges Each potable water service
customer shall pay a monthly MWD and CWA fixed system
charge, as set forth in Appendix A, 25.03 B. Proceeds of
the charge will be used to pay for operating and
maintenance costs, including the following: MWD Readiness-
Exhibit II
25-2
to-Serve Charge and Capacity Reservation Charge; CWA
Infrastructure Access Charge, Customer Service Charge,
Emergency Storage Charge, and Supply Reliability Charge.
The MWD & CWA charge is based on the size of the water
meter(s) in service with the exception of upsizing the
meter for individually metered residential fire service, as
described in Section 38.03 of the Code. The MWD & CWA
charge shall start upon installation of the meter.
C.Monthly Fixed System Charges Each water service customer
shall pay a monthly fixed system charge, as set forth in
Appendix A, 25.03 C. Proceeds of the charge will be used
to pay for water system replacement, maintenance, and
operation expenses. The system charge is based on the
customer class and the size of the water meter(s) in
service. For individually metered residential fire
service, as outlined in Section 38.03 of the Code, the size
and fee would be set based on water use requirements
without additional fire capacity. The system charge shall
start upon installation of the meter.
D.Categories of Water Service The definitions and rates and
charges for water service furnished by the District shall
be as follows:
1.DOMESTIC RESIDENTIAL WATER
(a)Defined as: Water service for single residential
and individually metered attached households as
well as other domestic uses (other than that
provided for in Paragraph 2.(a)).
(b) Base Rate: The tiered base rates of water
furnished under this category shall be set forth
in Appendix A, 25.03 D.1.(b).
(c) Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.1.
2.MULTI-RESIDENTIAL WATER
(a)Defined as: Master metered water service for
multiple residential households, for example,
duplexes, townhomes, apartments, and mobile
homes.
(b)Base Rate: The tiered base rates of water
furnished for each dwelling unit in this category
shall be as set forth in Appendix A, 25.03
D.2.(b).
(c) Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.2.
25-3
3.BUSINESS AND COMMERCIAL WATER
(a)Defined as: Potable water service for commercial
and industrial establishments.
(b)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.3.(b).
(c) Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.3.
4.NON-PUBLIC IRRIGATION AND COMMERCIAL AGRICULTURE USING
POTABLE WATER
(a)Non-public irrigation is potable water service
provided solely for irrigation of landscape or
landscaping, as defined in Section 0.02 of this
Code.
(b) Commercial agricultural engaged in the growing or
raising of livestock, in conformity with
recognized practices of husbandry, for the
purpose of commerce, trade or industry, or
agricultural horticultural or floricultural
products and produced,
(i) for human consumption or for the market,
or
(ii)for the feeding of fowl or livestock
produced for human consumption or for the
market, or
(iii) for feeding fowl or livestock for the
purpose of obtaining their products for
human consumption or for the market, such
products to be grown or raised on a
parcel of land having an area of not less
than one acre utilized exclusively
therefore.
(c)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.4.(c).
(d) Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.4.
5.PUBLICLY-OWNED WATER
(a)Defined as: Potable water service for publicly-
owned establishments and/or entities exempt from
District property taxes.
25-4
(b)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.5.(b).
(c) Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.5.
6.PUBLIC IRRIGATION WATER
(a)Defined as: Potable water service provided
solely for irrigation of publicly-owned landscape
or landscaping as defined in Section 0.02 of this
Code and/or entities exempt from District
property taxes.
(b)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.6.(b).
(c) Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.6.
7.CONSTRUCTION WATER
(a)Defined as: Potable water service for
construction or for temporary purposes pursuant
to Section 31 of this Code.
(b)The rates for water furnished under this category
is set forth in Appendix A, 25.03 D.7.(b).
(c)Monthly system charge: The monthly system charge
for water service is set forth in Appendix A,
25.03 C.7.
8.RECYCLED WATER – NON-PUBLIC IRRIGATION, CONSTRUCTION,
AND CERTAIN NON-IRRIGATION PURPOSES
(a)Defined as: Non-potable and recycled water service
provided for irrigation of landscaping, as defined
in Section 0.02 of the Code, and certain non-
irrigation purposes, other than domestic use, in
compliance with federal, state, and local laws and
regulations regarding use of recycled water.
(b)The provisions of this Code, relating to use of
recycled water, set forth in Section 26 of the Code,
including but not limited to cross-connections and
backflow protective devices, shall be strictly
enforced in connection with the use of recycled
water.
25-5
(c)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.8.(c).
(d) Monthly system charge: The monthly system charge
for recycled water service is set forth in
Appendix A, 25.03 C.8.
9.RECYCLED WATER - COMMERCIAL
(a)Defined as: Non-potable and recycled water service
provided for commercial customers, as defined in
Section 0.02 of the Code, and certain non-irrigation
purposes, other than domestic use, in compliance
with federal, state and local laws and regulations
regarding use of recycled water.
(b)The provisions of this Code, relating to use of
recycled water, set forth in Section 26 of the Code,
including but not limited to cross-connections and
backflow protective devices, shall be strictly
enforced in connection with the use of recycled
water.
(c)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.9.(c).
(d) Monthly system charge: The monthly system charge
for recycled water service is set forth in
Appendix A, 25.03 C.8.
10.RECYCLED WATER – PUBLIC IRRIGATION
(a)Defined as: Non-potable and recycled water service
provided for irrigation of publicly-owned
landscaping, as defined in Section 0.02 of the Code,
and/or entities exempt from District property taxes,
and certain non-irrigation purposes, other than
domestic use, in compliance with federal, state and
local laws and regulations regarding use of recycled
water.
(b)The provisions of this Code, relating to use of
recycled water, set forth in Section 26 of the Code,
including but not limited to cross-connections and
backflow protective devices, shall be strictly
enforced in connection with the use of recycled
water.
(c)Base Rate: The base rate for water furnished
under this category shall be determined as set
forth in Appendix A, 25.03 D.10.(c).
25-6
(d) Monthly system charge: The monthly system charge
for recycled water service is set forth in
Appendix A, 25.03 C.8.
11.POTABLE INTERIM BUSINESS AND COMMERCIAL WATER
(a) Defined as: Potable water service provided by
the District on a temporary basis to business and
commercial customers in Improvement District 7
(ID 7) pursuant to individual agreements.
(b)If capacity fees have not been paid by the
customer, the rates for water furnished under
this category is set forth in Appendix A, 25.03
D.11.(b).
(c)If the customer has paid equivalent capacity and
annexation fees, the rates and charges for water
furnished under this category shall be the rates
set forth in Appendix A, 25.03 D.3.(b).
(d)The applicable monthly system charge shall be the
same rates charged to customers in the same
category of service on a permanent meter basis
per Appendix A, 25.03 C.3.
(e)Conversion to Permanent Service. At such time as
use expires, the customer shall be required to
pay all unpaid fees in effect at the time the
permanent use is implemented.
12.POTABLE INTERIM NON-PUBLIC IRRIGATION AND COMMERCIAL
AGRICULTURE WATER
(a) Defined as: Potable water service provided by
the District on a temporary basis to non-public
irrigation and commercial agriculture customers
in Improvement District 7 (ID 7).
(b)If capacity fees have not been paid by the
customer, the rates for water furnished under
this category is set forth in Appendix A, 25.03
D.12.(b).
(c)If the customer has paid capacity and annexation
fees, the rates and charges for water furnished
under this category shall be the rates set forth
in Appendix A, 25.03 D.4.(c).
(d)The applicable monthly system charge shall be the
same rates charged to customers in the same
category of service on a permanent meter basis
per Appendix A, 25.03 C.4.
(e)Conversion to Permanent Service. At such time as
25-7
use expires, the customer shall be required to
pay all unpaid fees in effect at the time the
permanent use is implemented.
13.TANK TRUCKS
(a)Defined as: Water service provided for the
filling of tanks on motor vehicles transporting
water used for other than earth grading purposes,
which service shall be made only through a
portable meter issued by the District to a
customer specifically for use in accordance with
the provisions herein for such service.
(b)The rate for metered water furnished under this
category is reflected in Appendix A, 25.03.D.13.
(b), plus a monthly system charge at the rate set
forth in Appendix A, 25.03 C.4.
(c)Requirements for Use of Water Meter
(1)To receive such service, the customer must
make a deposit for the use a water meter
furnished by the District. The fee is set
forth in Appendix A, 31.03 A.1.
(2)Upon termination of the service, the Dis-
trict will refund the amount of deposit
remaining after making the following
deductions:
(i)Cost of repairing or replacing the
meter, fire hydrant and/or any fittings
damaged or lost while in use; and
(ii)Unpaid charges for water or other
applicable charges.
(3)Prior to the end of each six month period
following issuance of a meter under this
section, or at the request of the District,
whichever is earlier, the customer shall
return the meter to the District for
inspection, repair, or calibration as deemed
necessary by the District.
(4)Payment for water service under this cate-
gory shall be made as follows:
(i)The bill shall be based on the amount
of water actually used, which shall be
determined by the District’s reading of
the meter or by a report made by the
customer to the District in the manner
prescribed by the District.
25-8
(ii) Where the actual amount of water used
cannot be determined as provided in
(i), the District will issue a bill
based on a District estimate of the
amount of water used, as determined by
the District. Such estimates shall be
reconciled with actual amounts used
when the customer returns the meter to
the District as provided in paragraph 3
above.
(iii)Payments shall be made as specified on
the bill.
14.WATER SERVICE OUTSIDE DISTRICT BOUNDARIES
(a)Defined as: Water service for real property
outside the service area of the District.
(b)This service will be provided only upon prior
approval of the General Manager when there is a
surplus of water over and above the existing
needs for service in the District. This service
is temporary and may be terminated upon written
notice from the District. Customers for this
service are sometimes referred to as "outside
users."
(c)Customers applying for this category of service
shall pay an application fee as set forth in
Appendix A, 25.03 D.14.(c).
(d)The rate for metered water furnished under this
category shall be charged the rate as described
in Appendix A, 25.03 D.14.(d), plus a monthly
system charge at the rate set forth in Appendix
A, 25.03 C.5.
(e)Customers requesting only fire service or a fire
hydrant under this category shall be charged a
capacity fee based on one (1) EDU for a permanent
meter in the improvement district from which the
fire service derives its flow, plus a monthly
system charge at the rate set forth in Appendix
A, 25.03 D.16.(c).
15.WATER SERVICE OUTSIDE AN IMPROVEMENT DISTRICT
(a)Defined as: Water service for property located
within the boundaries of the District, but not
within a water improvement district. Customers
for this service are sometimes referred to as
"outside users."
25-9
(b)Customers applying for this service shall pay an
application fee as set forth in Appendix A, 25.03
D.15.(b). The District will review the
application to determine whether the land to be
served should be annexed to an improvement
district. If it is determined that annexation is
not practical, the Board of Directors may
authorize service as an outside user. This
service will be reviewed periodically until it is
determined that the property must be annexed to
an improvement district or that service must be
terminated.
(c) The rate for metered water furnished under this
category is as set forth in Appendix A, 25.03
D.15.(c), plus a monthly system charge as set
forth in Appendix A, 25.03 C.5.
(d)Upon approval of the Board of Directors, a cus-
tomer, who has paid all construction costs for
facilities necessary to serve the customer's
property in lieu of annexation to a water
improvement district, shall be exempt from the
provision for this category of service.
16.SERVICE FOR FIRE PROTECTION
(a)Defined as: Water service provided by the Dis-
trict solely to feed fire hydrants or fire
sprinkler systems from lines or laterals con-
nected to District water mains.
(b)The District will not make a charge for the
quantity of water used for fire protection
purposes.
(c)The monthly system charge for this category
of service is set forth in Appendix A, 25.03
D.16.(c) for each connection to a District water
main made for fire protection service.
17.WATER SERVICE UNDER SPECIAL AGREEMENTS
(a)Defined as: Water service provided under express
agreements approved by the Board of Directors for
service to golf courses and other entities, which
service may be curtailed or interrupted by the
District under conditions provided in such
agreements.
(b)For water service under this category the base
rate shall be determined on a case-by-case basis.
E.Energy Charges for Pumping Water
25-10
In addition to water rates and other charges provided for
in this Section 25.03, customers shall be charged an energy
pumping charge based on the quantity of water used and the
elevation to which the water has been lifted to provide
service.
1.Potable Water Energy Pumping Charge: The energy
pumping charge for potable water shall be made at the
rate set forth in Appendix A, 25.03 E.1.
2.Recycled Water Energy Pumping Charge: The energy
pumping charge for recycled water shall be made at the
rate set forth in Appendix A, 25.03 E.2.
25.04 DEPOSITS BY LESSEES OR NON-OWNERS OF PROPERTY
A.AMOUNT OF DEPOSIT
The customer's deposit shall be applied to reduce or
satisfy any delinquent payment or other amount due the
District at the time of termination of water service to
the customer. Any portion of the deposit remaining, after
satisfaction of the amount due, shall be refunded to the
customer that made the deposit.
The deposits listed per Appendix A, 25.04 A. may be waived
for a new residential applicant where the applicant
demonstrates credit worthiness based upon prior utility
payments or a non-delinquent water account for one year or
other similar evidence of credit.
B.REFUND OF DEPOSIT
Where funds have been on deposit for twelve months in a
domestic service account and there has been no more than
one delinquent payment on that account during that period,
the District will apply a credit to the water account in
the amount of the deposit.
C.LETTER OF CREDIT
A letter of credit, in a form approved by the General
Manager or Department Head of Finance, may be submitted to
the District to satisfy the deposit requirements.
25.05 SERVICE TO SUBSEQUENT CUSTOMERS
After a water meter has been installed for a customer and all
fees and charges have been paid, water service may be furnished
to a subsequent customer through the water meter installed
without payment of further charges, except for the set-up fee
25-11
for transferred accounts, payment of delinquent charges for the
applicant's service or other deposits that may be required by
this Code.
25.06 PUBLIC NOTIFICATION AND LEGAL OBJECTION PROCESS FOR RATE CHANGES
California law requires that certain changes to retail water and
sewer fees and charges be adopted in accordance with procedures
outlined in Article XIII D, of the California Constitution,
commonly referred to as “Proposition 218." Additionally, the
Otay Water District has established a formal process, an
exhaustion of administrative remedies procedure (“exhaustion
procedure”) consistent with Assembly Bill No. 2257 (2024)
(chaptered at Government Code sections 53759.1 and 53759.2). The
exhaustion procedure allows ratepayers to raise legal objections
regarding proposed water or sewer rate increases. This process
ensures that ratepayers have an opportunity to voice legal
objections to a proposed property-related fee, charge, or
assessment (“fee”) for water or sewer service, and provides an
opportunity for the District to address or resolve any legal
objections before the Board of Directors makes a final decision
on whether to adopt a proposed fee pursuant to Proposition 218.
The exhaustion procedure outlined below provides a structured
framework and requires ratepayers to participate in the pre-
adoption legal objection process in order to preserve the legal
right to bring forward any judicial action or proceeding against
the District regarding the fee structure.
A.GENERAL DISTRICT REQUIREMENTS PER THE EXHAUSTION PROCEDURE
1.District will notify the public of the amount of the
proposed fee by way of the Proposition 218 notice
mailed to all customers and/or owners of record,
2.Make the District’s written basis for the proposed fee
(including any cost of service report) publicly
available (including on the District’s website),
3.Provide 45 days for any ratepayer to review the
proposed fee and its basis and make any legal
objection,
4.Require any such objection to be in a writing to the
District that specifies the grounds for alleged
noncompliance with Proposition 218, and
5.Require the District to consider and respond in
writing to timely submitted objections prior to the
close of the protest hearing required under
Proposition 218.
B.BOARD ACTIONS AND PUBLIC PARTICIPATION
1.The District Board hereby adopts the exhaustion of
administrative remedies procedure contained in
25-12
Government Code section 53759.1(c), as further
described below.
2. In connection with the District’s consideration of
water or sewer rate increases, the District Board
hereby directs the staff to take the following
actions:
(a) Public Hearing Date. Establish a date certain for
a public hearing on any proposed water or sewer
rates, at which hearing the staff shall present a
summary of any written legal objections from the
public during the objection period and responses
from staff to those objections. The Board may
consider any protests to the proposed fee
increases on the same or a different date, but
only after considering all objections and
responses. The Board may continue the hearing
from time-to-time in order to provide additional
time for consideration of, and responses to, any
timely-submitted legal objections and/or
protests.
(b) Cost of Service Report. Make available to the
public the written basis for the proposed fee or
assessment (the “Cost of Service Report”) by:
(i) posting it on the District’s website,
(ii) making it available at the headquarters
of the District, and
(iii) mailing it to any property owner upon
request.
(c) Objection Period. Establish a time frame for an
“objection period” of not less than 45 days
between mailing of the notice described below and
the public hearing, during which period the
public may submit a written legal objection to
any aspect of the Cost of Service Report.
(d) Public Notice. Notify the public in writing of the
availability of the Cost of Service Report in the
notice sent pursuant to subdivision (c) of
Section 4 or paragraph (1) of subdivision (a) of
Section 6 of Article XIII D of the California
Constitution, and include in that notice:
(i) a prominently displayed statement that
all written legal objections must be
submitted within the written objection
period and that a failure to timely
25-13
object in writing bars any right to
challenge that fee or assessment through
a legal proceeding; and
(ii) a prominently displayed description of
all substantive and procedural
requirements for submitting an objection
to the proposed fee or assessment; and
(iii) the process for submitting protests.
3. In connection with the District’s consideration of
water or sewer rate increases, the District Board will
determine at the hearing:
(a) Whether the written legal objections and the
District’s response warrant clarifications to the
proposed fee or assessment or the Cost of Service
Report.
(b) Whether to reduce the proposed fee or assessment.
(c) Whether to further review the Cost of Service
Report and proposed fee or assessment before
making a determination on whether clarification
or reduction is needed.
(d) Whether to proceed with the protest hearing or
ballot tabulation hearing required under Section
4 or 6 of Article XIII D of the California
Constitution.
4. This exhaustion procedure will apply to any proposed
water or sewer fees for which notice is provided
pursuant to Proposition 218.
5. Pursuant to Government Code sections 53759.1 and
53759.2, a person or entity will be prohibited from
bringing a judicial action or proceeding that alleges
non-compliance with Proposition 218 for any new,
increased, or extended fee adopted by the District,
unless that person or entity has timely submitted to
the District a written legal objection to that fee
that specifies the grounds for the alleged non-
compliance.
STAFF REPORT
TYPE MEETING: Regular Board Meeting MEETING DATE: May 7, 2025
SUBMITTED BY: Tita Ramos-Krogman,
District Secretary
W.O./G.F. NO: DIV. NO.
APPROVED BY: Tita Ramos-Krogman, District Secretary
Jose Martinez, General Manager
SUBJECT: Board of Directors 2025 Calendar of Meetings
GENERAL MANAGER’S RECOMMENDATION:
At the request of the Board, the attached Board of Director’s meeting
calendar for 2025 is being presented for discussion.
PURPOSE:
This staff report is being presented to provide the Board the
opportunity to review the 2025 Board of Director’s meeting calendar
and amend the schedule as needed.
COMMITTEE ACTION:
N/A
ANALYSIS:
The Board requested that this item be presented at each meeting so
they may have an opportunity to review the Board meeting calendar
schedule and amend it as needed.
STRATEGIC GOAL:
N/A
FISCAL IMPACT:
None.
LEGAL IMPACT:
None.
Attachment: Calendar of Meetings for 2025
AGENDA ITEM 8e
Board of Directors, Workshops
and Committee Meetings
2025
Regular Board Meetings:
Special Board or Committee Meetings (3rd
Wednesday of Each Month or as Noted)
January 8, 2025
February 5, 2025
March 5, 2025
April 2, 2025
May 7, 2025
June 4, 2025
July 2, 2025
August 6, 2025
September 3, 2025
October 1, 2025
November 5, 2025
December 3, 2025
January 15, 2025
February 19, 2025
March 19, 2025
April 16, 2025
May 21, 2025
June 18, 2025
July 16, 2025
August 20, 2025
September 17, 2025
October 15, 2025
November 19, 2025
December 17, 2025
1
STAFF REPORT
TYPE
MEETING: Regular Board MEETING
DATE: May 7, 2025
SUBMITTED
BY:
Jose Martinez
General Manager
W.O./G.F.
NO:
N/A DIV.
NO.
N/A
APPROVED
BY:
Jose Martinez, General Manager
SUBJECT: General Manager’s Report
GENERAL MANAGER:
•Student Art Contest – In April, the District launched its annual
“Being Water Wise is…” Student Poster Contest. The District
encourages K-12 students attending schools within the District’s
service area to create a poster illustrating what being water-
wise means to them. More than 60 schools, including public,
charter, private, and home school programs, were invited to
submit their entry by the deadline of Friday, June 6, 2025. The
District will recognize the winners at a District board meeting
this summer. Those winners could advance to the Metropolitan
Water District of Southern California’s art contest to have
their artwork featured in MWD’s 2026 student calendar. Contest
rules and prize details are available here:
otaywater.gov/poster-contest.
•Community Outreach Events – On April 11, the District hosted an
outreach booth at the Water Conservation Garden’s Free Day
Friday, which is held every second Friday of the month. There
were nearly 300 attendees at the Garden that day. The day offers
a Garden tour, nature crafts, plant sales, community partner
booths, a scavenger hunt, and free admission to the Heritage of
the Americas Museum. On April 12, the District sponsored and
hosted a booth at the annual South Bay Earth Day at Chula
Vista’s Bayfront Park. With about 4,000 attendees, the event
celebrated sustainable living with over 50 green vendors,
organic food trucks, a fix-it clinic, live entertainment, and a
conservation-related kid zone. On April 26, the District also
sponsored and hosted a booth at the annual Spring Valley Day on
Bancroft Drive. This event brought in about 3,000 attendees and
AGENDA ITEM 9
2
supports local community groups, vendors, and residents of
Spring Valley. District staff provided information about water-
use efficiency programs and contests at all events and
distributed promotional items, including garden tool bags,
emphasizing the importance of making every drop count. Staff
highlighted its outreach participation on social media,
including a video reel. The posts have received 1,507
impressions and 67 engagements.
• South County Economic Development Council Economic Summit – On
April 29, 2025, the SCEDC hosted its annual Economic Summit at
Liberty Station Conference Center, bringing together more than
300 regional leaders, industry experts, and community
stakeholders to explore the future of South County. The District
sponsored and hosted a booth at the sold-out summit. The event
featured a keynote speaker from Visit California, President &
CEO Caroline Beteta, who highlighted the growing role of the
hospitality industry in the region’s economic development. In
addition, the summit included a mayoral panel discussing
priorities such as infrastructure, housing, homelessness, and
public safety; a conversation on artificial intelligence’s
impact across education, healthcare, and infrastructure;
economic forecasts for housing, workforce, and finance; and an
address from Consul General Thomas Teal emphasizing binational
collaboration. The event underscored the region’s momentum and
the importance of cross-sector partnerships in shaping South
County’s future. District staff and board members attended the
summit.
• Joint Public Information Council (JPIC) – Communications staff
participated in the San Diego County Water Authority’s monthly
JPIC meeting. Water Authority staff provided updates on water
supply conditions, water-use efficiency, legislation, rates and
budget setting, and the Value of Water campaign.
• Water-Use Efficiency Meeting – On April 8, communications staff
attended the Water Authority’s Water-Use Efficiency Workshop to
discuss some of the State Water Resources Control Board’s water-
use efficiency compliance tasks and timelines. The workshop
focused on commercial, industrial, and institutional (CII)
classifications, identifying top water users, CII best
management practices, nonfunctional turf, dedicated irrigated
meters, mixed-use meters, and more.
• Legislation and Funding Letters – The District issued a letter
of support for Senate Bill (SB) 496, related to the Advanced
Clean Fleets (ACF) mandates. SB 496 will enable the District to
better meet the state’s climate and emission goals and
effectively navigate the current ACF mandates and associated
ambitious compliance deadlines. SB 496 will also provide some
relief to local agencies by establishing an Appeals Advisory
3
Committee through which local agencies may request a review of
exemption request denials. This ensures transparency while
protecting due process for those seeking further review.
Additionally, SB 496 would update the emergency vehicle
exemption, allowing those vehicles that respond to and support
critical operations related to emergencies and disasters, often
under austere conditions, to continue to protect our
communities. SB 496 also promotes affordability amid rapidly
rising cost pressures on essential local services by averting
the costly acquisition of ZEVs before it is possible to install
the infrastructure required to use them.
The District also submitted a letter of support to Congressman
Issa for fiscal year 2026 community project funding for the
Helix Water District’s R.M. Levy Water Treatment Plant filter
underdrain replacement project. The R.M. Levy Water Treatment
Plant, located in Lakeside, California, treats water for 500,000
East County San Diego residents. The District purchases some of
its treated water from Helix. As part of the water treatment
process, water passes through a filter underdrain system, which
removes small particles in the water before the final stage of
treatment. Built in 2001, the filter underdrain system is a
crucial component of the treatment and disinfection process and
is now nearing the end of its useful life. Staff distributed
both letters to the board of directors.
ADMINISTRATIVE SERVICES:
GIS:
• Mobile Updates and Refresher Training:
o Staff conducted InfraMap refresher training for Utility
Maintenance staff, prompted by the onboarding of several new
team members and continued efforts to enhance user
proficiency. A representative from iWater, the InfraMap
vendor, was onsite to lead the session. During the training,
several software enhancements were identified and will be
incorporated into the development agenda.
o To support a new workflow aligned with the District’s Asset
Management Program, GIS staff added new fields to both the
fire hydrant feature class and the hydrant activity table. In
addition, new Dead-End Flushing and Hydrant Maintenance tasks
were created within InfraMap to streamline routine operations
and ensure consistent data collection. These enhancements
improve the District’s ability to manage hydrant assets by
supporting more effective lifecycle tracking, risk
assessment, and capital planning throughout the hydrant
network.
4
Human Resources:
• ERP/Tyler Conversion - Staff began participating in the meetings
on 10/8/24; ongoing.
• Employee Service Milestones – April/May/June 2025
o Michael Long, Chief of Engineering, achieved 5 years of
service on 4/13/25.
o Bernardo Separa, Asset Management Specialist, achieved 20
years of service on 4/18/25.
o Sonia Gomez, Executive Assistant, will achieve 15 years of
service on 5/10/25.
o David Rocha, Utility Crew Leader, will achieve 10 years of
service on 5/11/25.
o Isaac Perez, Systems Support Analyst, will achieve 10 years of
service on 6/2/25.
o Brandon Perry, Senior Utility Worker/Equipment Operator, will
achieve 10 years of service on 6/8/25.
o Kim Chavez, Meter Maintenance Worker I, will achieve 25 years
of service on 6/30/25.
• New Hires/Recruitments - The District is or will be recruiting
for the following positions:
o Senior Meter Maintenance Worker - New classification and two
(2) new vacancies. Job posted 4/22/25. Application review
scheduled for 5/9/25.
o Senior Utility Worker/Equipment Operator - Posted 1/24/25;
three (3) rotating temporary assignments to backfill
position. Testing was completed on 3/12, 3/19 & 3/20/25.
Interviews were completed on 4/10/25. Pursuing candidate for
internal promotion effective 5/5/25.
o Utility Crew Leader - New vacancy created by internal
promotion effective 3/10/25. Job description revision in
progress.
o Utility Worker I/II: A new vacancy was created on 4/8/25.
Skills testing held 4/26/25.
IT Operations:
• Utility Billing System - Staff completed the first round of
demonstrations for the Utility Billing (UB) project, with
proposals from 13 vendors. After a successful initial round,
five (5) vendors were selected to proceed to the next phase of
5
in-depth and online demos. Two (2) finalists were identified
from that group, and staff will begin conducting reference
checks for both. A final selection of the new UB system is
anticipated by the end of May or sooner.
• District Training Rooms: Audio & Visual Upgrades - Staff
completed work with the consultant, Absolute AV Design, to
enhance training capabilities and streamline presentations in
both the Training Room and Operations Crew Room through upgraded
audio and visual components. The upgrade provides greater
flexibility in content sharing, improved audio clarity, and
modern connectivity options.
Purchasing & Facilities:
• CAL-Card Program: Update & Strategic Value – Since 2014, the
District has actively leveraged the State of California’s CAL-
Card Purchase Program to improve procurement efficiency for low-
dollar purchases. Administered under a cooperative agreement
with U.S. Bank and NASPO ValuePoint, the program enables
authorized staff to make direct purchases using District-issued
purchase cards—significantly streamlining the procurement cycle
compared to the traditional requisition, purchase order (PO),
and invoice processing route. This shift has yielded substantial
operational and financial benefits. Historically, the District
processed more than 1,900 PO’s annually. By contrast, in
FY 2024, that number dropped to just 451, representing a
reduction of 1,449 PO’s. Based on an imputed administrative cost
of $75 per PO, a figure supported by guidance from the National
Institute of Governmental Purchasing (NIGP) and reflective of
the District’s historically multi-layered workflow, this
efficiency translates into over $108,000 in annual savings.
In addition to these process efficiencies, the District receives
quarterly rebates through the CAL-Card program, reported here as
annual totals:
$46,317 in
FY2023, $46,175
in FY2024, and a
projected $48,711
for FY2025.
More importantly,
the CAL-Card
program is offered
at no cost to the
District -- there
are no
administrative,
monthly, or renewal fees -- making the rebate revenue fully net
positive. Combined with administrative savings, the program
6
generates more than $150,000 in annual financial benefit,
reinforcing its value as a cost-effective and fiscally
responsible procurement strategy.
Beyond financial benefits, the program also improves operational
efficiency and accountability. Cardholders submit itemized
receipts and assign appropriate coding to each transaction,
which are routed to supervisors for review and approval. In the
early years of the program, this was a fully paper-based process
that often took weeks to complete, requiring manual routing,
approvals, and follow-up. While not easily quantified, the
transition to an online workflow has clearly resulted in
additional time savings and process efficiency. Today, the
entire review and reconciliation process is managed through an
integrated workflow within the District’s new Tyler ERP system,
enabling timely approvals, accurate expense tracking, and a
transparent and auditable record of all purchasing activity.
Further reinforcing oversight, 100% of CAL-Card transactions are
subject to automated, rules-based review through Program
Monitor, a compliance engine integrated with U.S. Bank’s Access
Online platform. Program Monitor evaluates each transaction
against defined policy parameters, such as merchant category,
dollar limits, and purchase types. If an exception is detected,
an alert is issued to program administrators for follow-up. This
real-time compliance monitoring adds another layer of assurance,
strengthens internal controls, and supports audit readiness.
From a governance perspective, the CAL-Card program exemplifies
strong financial stewardship. It aligns with the District’s
commitment to operational efficiency, accountability, and
transparency—delivering measurable value to ratepayers while
maintaining robust oversight and internal controls.
Safety & Security:
• San Diego County Public Health/Healthcare Disaster Coalition -
The San Diego County Public Health department requested the San
Diego County Water Authority (CWA) Water Agency Emergency
Collaborative group to teach a Water Utility 101 course for the
San Diego Healthcare Disaster Coalition at Sharp Hospital on
March 26, 2025. The session was designed to provide a
foundational overview of the water utility’s operations,
challenges, and emergency response strategies. This session
also served as critical preparation for their Medical Response
Surge Exercise, held on April 17th. CWA’s Risk and Safety
Manager, Tom Marcoux, presented. CWA’s & OWD Systems Operations
Supervisors and the District’s Safety & Security Specialist,
were invited to serve on the panel to answer technical
questions from the retailer and utility operations perspective.
There were about 86 attendees from various affiliations within
the San Diego Healthcare Disaster Coalition.
7
FINANCE:
• FY 2026 Budget – Staff is preparing the FY 2026 budget, which
will be presented to the Board in two sessions. The first
session, a Budget Workshop, was held on April 16 to review key
items impacting the FY 2026 budget. The second presentation,
scheduled for June 4, will include the consolidated budget and
staff’s request for the Board to adopt the FY 2026 budget,
incorporating proposed changes to water rates and a presentation
of proposed wastewater rates. The wastewater rates will be
brought to the Board for adoption at a Proposition 218 Hearing
in October.
• COVID-19 Claims – California Governor’s Office of Emergency
Services (Cal OES) has reviewed the final federal claims
submitted by the District and determined that an audit of the
District’s claimed expenditures was not warranted. The District
received $122,384 in COVID-related reimbursements, which were
thoroughly reviewed by both FEMA and Cal OES representatives.
This concludes the final review of the District’s COVID-related
claims. Neither FEMA nor Cal OES identified any findings, which
is a testament to the District’s accuracy and documentation
practices.
• GFOA Certificate of Achievement for Excellence in Financial
Reporting – For the 21st consecutive year, the GFOA awarded the
District with the prestigious Certificate of Achievement for
Excellence in Financial Reporting for the District’s Annual
Comprehensive Financial Report for the fiscal year ended June
30, 2024.
8
To be awarded a Certificate of Achievement, the District had to
publish an easily readable and comprehensive report. This report
must satisfy both Generally Accepted Accounting Principles
(GAAP) and applicable legal requirements.
• Utility Billing Request for Proposal – Customer Service staff
participated in shortlist demonstrations of utility billing
solutions during the week of April 1. The evaluation team will
further narrow the list and invite two firms to conduct a second
round of demonstrations in early May. A request to proceed with
the selected candidate will be presented to the Board in July.
Financial Reporting:
• The financial reporting as of March 31, 2025, is as follows:
o As of the nineth month ending March 31, 2025, there are total
revenues of $101,090,311 and total expenses of $100,919,153.
The revenues exceeded expenses by $171,158.
• The financial reporting for investments as of March 31, 2025, is
as follows:
o The market value shown in the Portfolio Summary and in the
Investment Portfolio Details as of March 31, 2025, total
$94,930,432 with an average yield to maturity of 4.124%. The
total earnings year to date are $3,521,983.
ENGINEERING AND WATER SYSTEM OPERATIONS:
Engineering:
• Vista Diego Hydropneumatic Pump Station Pump, Hydropneumatic
Tank, and Backup Power Replacement, 1530 Zone, Vista Diego Road:
The project includes the replacement of the existing pumps, the
hydropneumatic tank, and backup power. The project is within
budget and on schedule. (P2639 and P2688)
• RWCWRF Disinfection System Improvements: The project involves
the replacement of the chlorine gas disinfection system with an
ultraviolet (UV) process at the Ralph W. Chapman Water
Reclamation Facility. A construction contract has been awarded
to GSE Construction Co., Inc. On February 21, 2024, staff
presented the Disinfection Improvement project at the Board
Workshop as an informational item. A Notice to Proceed was
issued for April 8, 2024, and the contractor, GSE, has mobilized
and begun construction. The contractor ordered the Trojan UV
system, which arrived on August 22, 2024. The first and second
planned shutdowns were combined to minimize downtime at the
plant and were successfully completed on December 2, 2024. Work
completed during the shutdown included new backwash pumps and
9
the installation of a new flow meter. On February 6, 2025, the
state granted a conditional acceptance of the Engineering
Report. In the month of March 2025, the contractor installed
the Trojan UV system. The testing and commissioning of the
Trojan UV system is scheduled through May 2025. The State Water
Resources Control Board Department issued the Conditional Title
22 Acceptance Permit in April. The project is on schedule and
on budget. (R2117 and R2157)
• 450-1 Recycled Water Reservoir Stormwater Improvements:
Stormwater runoff from the 450-1 Recycled Water Reservoir site
has been eroding the downstream area and exposed the District's
30-inch recycled water line. Staff is working with NV5 on
potential design and permitting solutions. Helix Environmental
is currently working on the regulatory permit considerations for
the work within the tributary. The project is within budget and
on schedule. (R2164)
• Zero Emission Vehicles and Charging Infrastructure: The project
is for the capital purchase and installation of various electric
vehicle support equipment, such as charging infrastructure
needed to power Zero Emission Vehicles (ZEVs) for light, medium,
and heavy-duty electric vehicles. The project is in preparation
for compliance with the State of California's Executive Order N-
79-20 and the Advanced Clean Fleet Regulation to require ZEV
purchases when adding to the District's fleet of vehicles. In
December, the District was awarded $128,093.00 in grant funding
for the installation of five electric vehicle battery charging
stations from the Clean Air for All Grant from the San Diego Air
Pollution Control District (APCD). The final design of the five
charging stations was completed in March 2025. The District is
currently in the process of soliciting for the new equipment.
The project is on schedule and within budget. (P2684)
• Potable Pipeline Replacement Projects: The following set of
pipelines is being replaced as a result of past failures, age,
lack of redundancy, and/or improved fire flow. The 60% design
plans were reviewed by staff and returned to NV5 in March 2025.
o PL - 8-inch, 850 Zone, Coronado Avenue, Chestnut/Apple (P2608)
o PL - 8-inch, 1004 Zone, Eucalyptus Street, Coronado/Date/La
Mesa (P2609)
o PL - 12-inch Pipeline Replacement, 803 PZ, Vista Grande
(P2615)
o PL - 20-inch, 1296 Zone, Proctor Valley Road from Pioneer Way
to Melody Road, “South Proctor Road” (P2171)
o PL - 20-inch, 1296 Zone, Proctor Valley Road from Melody Road
to Schlee “North Proctor Road” (P2058) – Easement offer
letters were sent to property owners on November 19, 2024. A
meeting was held on December 10, 2024, with three of the six
property owners. Separately, five property owners submitted a
10
letter of interest in the offer. Escrow will be initiated
with the owners who have accepted the letter of interest. The
best and final offer will be sent to the remaining property
owner. Eminent Domain will be initiated if the property owner
does not accept this offer. The project is within budget and
on schedule.
• Steele Canyon Road Bridge 20-inch Water Main and 6-inch Force
Main Renovations: Several portions of the existing pipelines
were noted to have corrosion pitting, primarily located at pipe
supports for the 20-inch steel potable water main and at pipe
joints for the 6-inch steel sewer force main. The first phase,
to assess the extent of the corrosion, has been completed, and
staff is now working on preparing recommendations for the
repairs of the pipelines. The project is within budget and on
schedule. (P2687 & S2079)
• Olympic Parkway Recycled Water Line Replacement: Several main
breaks within the past few years on the 20-inch recycled water
line in Olympic Parkway between Heritage Road and La Media Road
resulted in the establishment of this Capital Improvement
Program project at the May 2021 Board Meeting. The project was
awarded to Burtech in January 2023. The City of Chula Vista
permits have been obtained. Consideration was given to
potentially using trenchless installation, but several drawbacks
and limitations eliminated it from selection. The contractor
started procuring materials, and a Pre-Construction Meeting was
held on June 8, 2023. A Notice to Proceed was issued for March
25, 2024, and most of the work will be night work to minimize
traffic delays. The valves were delivered and tested at the end
of May 2024. The contractor mobilized on July 15, 2024.
Burtech completed the final pipeline tie-in on January 14, 2025,
and pavement restoration on February 24, 2025. Burtech is
working on completing punch-list items and some minor curb
repairs at their storage yard entrance. Staff is working with
Burtech on the final amount of liquidated damages for late
project delivery. The project is within budget. (R2159)
• Olympic Parkway Transmission Main Assessment and Repair: Several
main breaks within the past few years on the 16-inch potable
water line in Olympic Parkway between East Palomar Street and
State Highway 125 resulted in the establishment of this Capital
Improvement Program project through the annual budget process.
This project is for the condition assessment and, if needed,
repair of interior joints within approximately 3,500 feet of the
16-inch cement mortar-lined and coated steel transmission main
along Olympic Parkway east of East Palomar Street. The first
phase of this project is an assessment to determine the
condition of the interior pipeline joints. The District
received permits from the City of Chula Vista and Caltrans.
11
The interior video inspection contractor, Houston Harris, will
perform the inspection this fiscal year. The project is within
budget and on schedule. (P2706)
• Cottonwood Sewer Pump Station Replacement: The project involves
the replacement of the existing sewer pump station originally
constructed in 1986 as a temporary facility due to operational and
accessibility deficiencies. The station serves both the District
and County of San Diego customers on the south side of the
Sweetwater River. Improvements will incorporate increased station
capacity and the addition of emergency storage to avoid a sewage
spill. The design is being prepared by Wood Rodgers, Inc.
Alternatives to reduce costs were reviewed with District
Operations staff and Wood Rodgers on March 20, 2025, and the
County on March 27, 2025. The Mitigated Negative Declaration was
prepared in September 2021 and will be reviewed and updated prior
to finalizing the design. Construction of the project is
currently estimated for completion in FY 2031. The project is
within budget. (S2069)
• 870-2 Reservoir and 870-1 Reservoir Floating Cover/Liner
Replacement: This project consists of constructing a new 3.4 MG
prestressed concrete potable water tank adjacent to the
existing 870-1 Reservoir. The project also includes lowering
the existing 870-1 Reservoir 30-inch inlet pipe and replacing
the existing floating cover and liner within the existing 870-1
Reservoir. The construction contract was awarded to Pacific
Hydrotech at the September 2024 Board Meeting. Pacific
Hydrotech mobilized to the site on October 28, 2024. The work
in March and April 2025 consisted of the over-excavation and
re-compaction for the new tank foundation. Both projects are
within budget and on schedule. (P2228 & P2563)
• Potable Water Pressure Vessel Program - Rolling Hills: The 2004-
era Rolling Hills Hydropneumatic Pump Station hydropneumatic
pressure vessel was inspected on June 6, 2017, and February 27,
2023. Both inspection reports noted interior corrosion due to
internal coating wear. The February 2023 inspection report
suggested that the life expectancy of the vessel may be near the
end of its life. With the limited availability of the trailer-
mounted variable frequency drive pump station, the tank is
scheduled for replacement. Delivery and installation of the new
vessel is anticipated on May 7, 2025. The project is within
budget and on schedule. (P2663)
• Telegraph Rd – Hydrant Repair: In late April 2024, a vehicle
accident damaged a dual-purpose blow-off valve and fire hydrant
appurtenance located at 1052 Telegraph Canyon Road, Chula Vista,
approximately 800 feet east of Heritage Road/Paseo Ranchero.
The fire hydrant has been struck three (3) times by vehicles in
the past seven (7) years. Notably, in the most recent incident,
12
not only was there damage to the above-ground appurtenance, but
when operating the 6-inch valve to isolate the fire hydrant, a
break was identified near the 20-inch ACP water main. This
water main is a major arterial water line and provides potable
water to nearby critical infrastructure including a hospital.
Repairs to the pipeline are complicated due to the pipeline’s
depth, requiring outside contractors with equipment to repair it
at that elevation. The water main is approximately 16 feet deep
near the fire hydrant. There are nearby utility crossings, which
include a triple 6-foot by 10-foot box culvert, an 8-inch-high
pressure gas line, a 36-inch storm drain, and a 30-inch steel
casing on the 20-inch water main. Design was completed by staff
and advertised for construction on December 10, 2024. Five bids
were submitted. The District opened bids on January 7, 2025.
The lowest bid was M-Rae Engineering, Inc., for $171,600,
marginally lower than the Engineer’s Estimate of $180,000. The
EO&WR Committee reviewed the staff report on January 21, 2025,
and put the item on consent for the February 5, 2025 Board
meeting. The project was awarded on February 5, 2025. Staff
executed the construction contract and is working on scheduling
a Pre-Construction Meeting. The project expenditures will come
from the operating budget, which is sufficient to cover the cost
of the repair. (P1000)
• 1004-2 & 1485-2 Reservoir Interior/Exterior Coating & Upgrades:
This project is for the interior and exterior coatings of the
1485-2 Reservoir, located at 15010 Lyons Valley Road, Jamul.
This welded steel Reservoir has a 1.6-million-gallon capacity.
Based upon the current inspection report, the interior and
exterior coatings on the 1485-2 Reservoir are nearing the end of
their useful lives and need replacement. The Reservoir was
constructed in 2006 and has never been recoated. In addition to
removing the existing interior and exterior coating and
recoating the Reservoir, the project includes rafter
replacement, seismic rod replacement, cathodic protection
equipment replacement, and structural modifications.
Additionally, the project includes door modifications to the
1004-2 Reservoir, located at 1711 Buena Vista Avenue, Spring
Valley. This welded steel Reservoir has a 1.26-million-gallon
capacity. The project was approved for award to Unified Field
Services Corp. at the November 2024 Board Meeting with a budget
adjustment. A Pre-Construction Meeting was held on January 9,
2025. A Notice to Proceed was issued for January 13, 2025, and
the contractor mobilized on January 14, 2025. The majority of
submittals have been processed, inspection blast is complete,
structural recommendations have been made, and materials are
currently being procured. The project is within budget and on
schedule. (P2631 & P2657)
13
• 711 Pump Station Replacement and Expansion and Potable Water
Pressure Vessel Program (711 Pump Station Surge Tank): The 2015
Water Facilities Master Plan envisioned total replacement of the
711 Pump Station with a budget of $16M; however, the CIP P2578
concept was re-evaluated with a new concept to restore the
original pump capacity while utilizing the pump station
structure to reduce cost. The initial project will remove one
(1) of the existing five (5) nominal 2,500 GPM pumps and replace
it with a nominal 4,000 GPM pump and reconfigured discharge and
suction piping as a pilot project. The 1990-era 711 Pump
Station surge tank pressure vessel was inspected on August 30,
2021. The inspection report noted interior corrosion due to
internal coating wear. The February 2021 inspection report also
recommended reinspection the following year; however, District
staff determined it was better to be proactive and replace
rather than continue to spend on the reinspection of the surge
tank vessel. Approval to pre-purchase a nominal 4,000 GPM pump
to be included in the pilot project was authorized at the
February 5, 2025, Board Meeting. The Phase I pilot project was
publicly advertised for bid on April 1, 2025. Award of the
construction contract for the pilot pump configuration and surge
tank replacement is anticipated for the May 2025 EO&WR Committee
and June Board Meeting. (P2578 & P2663)
• City of San Diego – Otay 2nd Pipeline Phase 4 Interconnections
Relocation: The City of San Diego (City) is working on Phase 4
of the replacement and realignment of the 40-inch potable water
line between Telegraph Canyon Road and Bonita Road with a 48-
inch pipeline. The District has two interconnections to this
line located at East H Street and Telegraph Canyon Road that
will need to be replaced to conform to the new construction.
The City recently completed the 60% design stage for the new
pipeline. The District’s staff has reviewed the City’s 60%
design and identified potential utility conflicts that are being
coordinated with the City. The two potential interconnection
relocations have been identified and are being considered.
Additionally, new interconnection agreements with the City are
being evaluated and will be finalized concurrently with the City
finalizing their pipeline design. The City design is expected
to be finalized at the end of FY 2027/beginning of FY 2028. The
design is currently in the environmental permitting stage.
(P2691)
• City of Chula Vista – Heritage Road Replacement: The City of
Chula Vista is constructing a new bridge crossing the Otay River
at Heritage Road, which provides an opportunity for the District
to relocate an existing pipeline out of the river into a more
secure location. The City of Chula Vista opened bids in
September and awarded the contract at their October 8, 2024,
Council meeting. The District Board approved the reimbursement
14
agreement on March 1, 2023. The City of Chula Vista Council
approved the agreement at their January 7, 2025, Council
meeting. The reimbursement deposit has been wired to the City
of Chula Vista. Staff is processing submittals and RFI’s. The
project is within budget. (P2553, P2405)
• Elmdale Drive Water Main Replacement: This project includes
relocating an existing 6-inch AC waterline located at Elmdale
Drive northeast of Highridge Road. The County of San Diego
(County) is replacing an existing storm drain culvert, which
creates a conflict with the District’s waterline. The project
will replace the 6-inch AC pipe with new 8-inch PVC pipe at a
lower elevation. The lowering is required to accommodate the
County’s replacement of the existing storm drain culvert. The
County has prior rights; therefore, the District will be
responsible for the waterline relocation cost. Staff is
currently preparing recommendations for the relocation of the
waterline. The project is within budget and on schedule.
(P2707)
• Sycuan Treatment Plant: The Sycuan Tribal Nation is working with
the District to evaluate the feasibility of accepting processed
solids from their proposed Recycled Water Treatment Plant. The
District initiated a Task Order for NV5 to provide engineering
services in the technical evaluation of accepting the solids
stream, especially as it will combine with the municipal sewer
flows into the Ralph W. Chapman Water Recycled Water Facility.
Additionally, the consultant will assist the District with
regulatory and contractual considerations for accepting the
Sycuan discharge. In coordination with the engineering
consultants, staff will consider cost impacts and ensure proper
cost recovery. As the project progresses, it is anticipated
that other agencies’ reviews and/or approvals will be necessary,
along with associated agreements established or updated.
Consultant and staff time costs are being recovered through a
deposit account funded by Sycuan. Progress is dependent on
Sycuan providing the requested information. District review
turnaround times are six to eight weeks due to the complexity of
the project. These timelines were relayed and agreeable to
Sycuan. Sycuan provided the requested influent quality data on
April 11, 2025 for technical evaluation.
• Recycled/Reuse Feasibility: The Sweetwater Authority (SWA) and
the District are working collaboratively through a Memorandum of
Understanding (MOU) to evaluate the feasibility of extending
water reuse into the SWA area. On February 7, 2024, a
Professional Services Agreement (PSA) for a feasibility study
was awarded by the Board to Carollo Engineers (Carollo). On
June 20, 2024, the District was approved for grant funding from
the Water Recycling Funding Program for the SWA and OWD Intertie
15
Project for $300,000. The District, SWA, and Carollo are
conducting biweekly progress meetings and collecting data for
the Planning and Feasibility Report. Carollo is in the process
of reviewing and assessing data from both agencies and
coordinating additional data as needed. (R1254)
• Otay Water District Climate Adaptation and Resilience Planning
Project: On November 21, 2023, FEMA approved and issued Hazard
Mitigation Grant Program (HMGP) funds for the preparation of a
Climate Adaptation and Resilience Plan for the District. FEMA
authorized a total of $244,939.70. The CARP will include a risk
and resilience assessment focusing on climate change. The CARP
will also include the development of resilience and adaptation
strategies to allow the District to prioritize risks.
Strategies may include updated policies, built infrastructure-
based measures, green infrastructure-based measures, operational
approaches, staff training and tools, and communication and
education for customers. The consultant was on site in
January 2025 to conduct site visits and staff interviews. The
second phase of data collection is currently ongoing. The final
Plan will be incorporated into the District’s Local Hazard
Mitigation Plan Annex. (P1253)
• Water Facilities Master Plan, Urban Water Management Plan, and
Integrated Water Resources Plan: The next update for the WFMP
with Program Environmental Impact Report (PEIR) will be done in
parallel with two other District planning documents, the Urban
Water Management Plan (UWMP), and the Integrated Water Resources
Plan. The UWMP update is required for compliance with the State
Water Boards. Combining the three planning documents is
anticipated to provide efficiency and cost savings. In
accordance with the District’s purchasing requirements, the
project was approved for award to Woodard and Curran at the
April 2025 Board meeting. Staff is currently working with the
consultant on the execution of the awarded contract agreement.
• Sewage Flows to Metro vs Planned Capacity: The Metropolitan
Water District Amended and Restated Regional Wastewater Disposal
Agreement became fully effective at the start of FY 2023. The
District’s annual capacity of 0.38 MGD (139 MG) is now in
effect, though the District would need to exceed this capacity
for three (3) consecutive years before additional capacity must
be acquired. The Metropolitan Water District (Metro) capacity
was set based upon the District’s sewer system requirements
through planning year 2050. The plant experienced a plant upset
from September 20, 2024, through September 22, 2024. A planned
shutdown in November 2024 was required to accommodate the
construction of the new backwash system. The shutdowns result
in increased sewer discharge into the Metro system. The current
16
discharge total for FY 2025 is 62.25 MG, below the 104.31 MG
planned capacity.
• Summary of Budgeted and Sold Meters and EDUs for Fiscal Year 2025
through March 2025:
OPERATIONS:
• On Tuesday, March 25th through Friday, March 28th, inflows on the
Otay #14 connection dropped to zero at the request of Helix
Water District so they could perform planned maintenance in
their system. During this time, flow needs for the north
District were met by using the Otay #11 connection on San Diego
County Water Authority’s Pipeline #4 in Spring Valley.
• The following events occurred on Thursday, March 27th:
o Water Systems staff, with assistance from Utility Maintenance
staff, performed a planned shutdown on Osage Street in Spring
Valley. This shutdown was performed to replace three fire
hydrant valves that were found with excessive leak by during
Date
Meters
(Budgete
d)
Meters
Sold
(Actua
l)
EDUs
(Budgete
d)
EDUs
Sold
(Actua
l)
Total $
(Budgeted)
Total $
Collected
(Actual)
March
2025 20.2 9 58.8 21.5 $955,391 $458,650
Totals
FY 2025 181.5 138 529.5 406.5 $8,598,516 $6,289,742
17
routine valve maintenance. Water isolation valves are critical
components of a water distribution system for isolating pipe
segments for repair and maintenance purposes. The shutdown
lasted six hours and affected 38 meters, with two water
trailers available for the affected customers.
o Pump/Electrical staff replaced pump #2 at Russell Square Lift
Station, after receiving a report of a malfunction on the
pump. Staff performed troubleshooting, and a major failure was
detected, and it was determined that a replacement was needed.
• On Friday, March 28th, Water Systems staff, with assistance from
Utility Maintenance staff, performed a planned shutdown on Maya
Street in Spring Valley. This shutdown was performed to replace
one fire hydrant valve that was found with excessive leak by
during routine valve maintenance. Water isolation valves are
critical components of a water distribution system for isolating
pipe segments for repair and maintenance purposes. The shutdown
lasted three and a half hours and affected 26 meters, with two
water trailers available for the affected customers.
• The following events occurred on Tuesday, April 1st:
o A District vendor completed the CCTV for the eight-inch
asbestos concrete pipe easement at 314 Vecino Court in Spring
Valley, to determine the exact location of the leak. A cut and
cap of the main and backfill was completed the following day.
The video results of the inspection were inconclusive and were
not able to find the location of the leak.
o There was a six-inch ACP main failure at 3245 Loma Vista Drive
in Jamul. Utility Maintenance staff made the repair, replaced
the poly service for this address and completed all the clean-
up by 9:00 p.m. the same day. Staff received a complimentary
phone call from one of the residents on Loma Vista detailing
how efficient and professional Utility Maintenance staff was
while performing the work.
o Operations staff provided a tour of the 870-2 Pump Station and
570-1 Reservoir sites to Director Rivera. The tour gave an
overview of the 870-2 Pump Station and how the District
distributes water to the Otay Mesa area.
• On Monday, April 7th, a District vendor began the biannual
potable floating cover reservoir cleaning and maintenance. This
maintenance includes the cleaning of the entire cover, repairing
of minor holes and tears, adjusting cover tensioning devices,
and maintaining the rainwater removal system as needed. This
maintenance is required by the State Water Resources Control
Board for the District’s four potable floating cover reservoirs.
18
• On Friday, April 11th, the FY25 leak detection campaign was
completed. A total of 49 District-side leaks were found by the
District vendor and repairs were made by District staff. In
addition, there were 39 potential customer-side leaks
identified, and staff have contacted those customers. This is
the 13th consecutive year of the District’s leak detection
campaign and the combined surveys have now covered the
District’s service area approximately two and a half times.
Having a proactive leak detection program that finds leaks when
they are smaller allows the District to schedule the repairs
during normal working hours before they become larger and
require immediate attention.
• On Monday, April 14th, in cooperation with San Diego Power, a
site test was performed at the 980-2 Pump Station. A defective
generator protection relay was found, and a replacement part was
ordered. Staff will retest once the relay is replaced.
• On Friday, April 18th through Wednesday, April 23rd, the annual
floating cover reservoir dive inspections were performed by a
District vendor. These inspections are required by the State
Water Resources Control Board for potable floating cover
reservoirs and include a liner and cover condition assessment.
No major issues were reported. The District’s four floating
cover reservoirs remain in good working condition.
• On Tuesday, April 22nd, Senior Utility Worker, Brandon Perry,
presented to the Cuyamaca College AWWA Student Chapter, on the
Repair and Maintenance of a water distribution system. His
presentation, along with a question-and-answer period, was well
received by the chapter. The District has received several
written kudos from those who attended his presentation. Brandon
exemplified the District’s commitment to professional
development and industry outreach.
19
• During this period, process instrument calibrations for all
billable and regulatory-compliant flowmeters within the
District, were performed by a District vendor. Due to the
potential inter-agency or regulatory interest in these
calibrations, a third party was contracted to perform the
maintenance to eliminate potential biases. Calibrations were
performed at five Potable, eight Recycled, and seven Sewage main
flow meters.
Purchases and Change Orders:
• The following table summarizes purchases and change orders issued
during the period from March 17, 2025, through April 21, 2025, that
were within staff signatory authority:
Date Action Amount Project Contractor/
Consultant/Vendor
3/17/2025 P.O. $1,331.02 TEMPORARY METER
STANDS WELDING
L&N MOBILE
WELDING SERVICES
3/19/2025 P.O. $17,160.00 ADA Upgrade
Design Services
Miscellaneous,
Inc.
3/19/2025 P.O. $10,000.00
Fire Sprinkler
Inspection and
Service
The Hiller
Companies
3/19/2025 P.O. $24,851.46 SCBA
Replacements
Mallory Safety
Supply, LLC
3/24/2025 P.O. $1,191.50
Safety
Equipment/
Hazmat Supplies
Mallory Safety
Supply, LLC
4/3/2025 P.O. $3,560.00
FY25 On-Demand
Security
Response
Securitas
Security Svc USA,
Inc.
4/3/2025 P.O. $5,760.00
Data Center &
IT Office -
Bidding
and CA Services
Miscellaneous,
Inc.
4/7/2025 P.O. $5,545.89 3/4" 3G
REGISTER PRO-
RATE COST
MASTER METER INC
4-7-2025 AMENDMENT
NO. 2
$18,850.00 P2058 – NORTH
PROCTOR VALLEY
RD PIPELINE
REPLACEMENT
BENDER ROSENTHAL,
INC.
4/9/2025 C.O. $88.97 CUSTOMER WATER
CONSUMPTION
DATA
HELIX WATER
DISTRICT
20
4/10/2025 P.O. $6,130.00
Elevator Door
Safety Edge
Replacement
24 Hour
Elevator, Inc.
4/15/2025 P.O. $39,294.96 Microsoft
365 Licenses GIGAKOM
4/15/2025 C.O. $5,700.00
AS-NEEDED
COMMUNICATIONS
CONSULTING SVCS
FY24-25
SVPR
COMMUNICATIONS
LLC
4/21/2025 C.O. $1,140.00 RMA METER TEST
FEE
MASTER METER INC
Water Conservation and Sales:
• Water Conservation – March 2025 usage was 17% lower than March
2013 usage. Since March 2024, customers have saved an average of
9% over 2013 levels.
21
• Potable Water Purchases – The March potable water purchases were
1,872 acre-feet which is 11.0% above the budget of 1,687 acre-
feet. Cumulative purchases for the year are 22,113 acre-feet,
3.0% above the year-to-date budget of 21,476 acre-feet.
• Recycled Water Purchases – The recycled water purchases from the
City of San Diego and production at the District’s treatment
facility for the month of March were 133 acre-feet which is
23.5% above the budget of 108 acre-feet. Cumulative purchases
and production for the year are 2,978 acre-feet, 9.5% above the
year-to-date budget of 2,719 acre-feet.
22
• The table below displays the year-to-date and monthly rainfall
data for February.
Rainfall March Y-T-D
Actual 2.82 4.21
3-year Historical
Average
2.69 11.86
Variance (0.13)
(4.7%)
(7.65)
(64.5%)
Potable, Recycled, and Sewer (Reporting up to the month of March):
• Total number of potable water meters: 52,080.
• Total number of sewer connections: 4,756.
• Recycled water consumption for the month of March:
o Total consumption: 123.06 acre-feet or 40,099,532 gallons.
o Average daily consumption: 1,293,533 gallons per day.
o Total cumulative recycled water consumption since March 2024:
3,050.87 acre-feet.
o Total number of recycled water meters: 807.
• Wastewater flows for the month of March:
o Total basin flow: 1,701,161 gallons per day.
▪ This is a decrease of 10.3 percent from March 2024.
o Spring Valley Sanitation District flows to Metro: 568,784
gallons per day.
o Total Otay flow: 1,132,387 gallons per day.
o Flow processed at the Ralph W. Chapman Water Recycling
Facility: 1,068,194 gallons per day.
o Flow to Metro from Otay Water District: 64,194 gallons per
day.
o By the end of March there were 6,761 wastewater EDUs.
Exhibit A
FOR THE NINE MONTHS ENDED MARCH 31, 2025
Annual YTD
REVENUES: Budget Actual Budget Variance Var %
Potable Water Sales 74,767,000$ 55,185,201 55,685,000$ (499,799) (0.9%)
Recycled Water Sales 11,014,000 8,766,318 7,966,400 799,918 10.0%
Potable Energy Charges 3,578,000 2,599,088 2,670,600 (71,512) (2.7%)
Potable System Charges 14,131,000 10,289,104 10,450,000 (160,896) (1.5%)
Potable MWD & CWA Fixed Charges 16,555,000 11,063,971 11,826,000 (762,029) (6.4%)
Potable Penalties and Other Fees 1,067,000 847,440 806,300 41,140 5.1%
Total Water Sales 121,112,000 88,751,122 89,404,300$ (653,178) (0.7%)
Sewer Charges 3,482,000 2,614,319 2,617,900 (3,581) (0.1%)
Meter Fees 158,000 106,074 118,600 (12,526) (10.6%)
Capacity Fee Revenues 2,833,000 2,461,968 2,124,900 337,068 15.9%
Non-Operating Revenues 2,566,000 2,139,450 1,880,000 259,450 13.8%
Tax Revenues 6,840,000 4,260,982 4,282,800 (21,818) (0.5%)
Interest 1,102,000 756,396 826,500 (70,104) (8.5%)
Total Revenues 138,093,000$ 101,090,311 101,255,000$ (164,689) (0.2%)
EXPENSES:
Potable Water Purchases 54,323,000$ 40,876,399 39,933,200$ (943,199) (2.4%)
Recycled Water Purchases 6,123,000 4,227,000 4,227,000 - 0.0%
CWA-Fixed Transportation Charge 1,125,000 549,089 562,500 13,411 2.4%
CWA-Infrastructure Access Charge 3,258,000 2,382,302 2,427,000 44,699 1.8%
CWA-Customer Service Charge 2,166,000 1,604,183 1,611,000 6,817 0.4%
CWA-Reliability Charge 3,768,000 2,627,427 2,730,000 102,573 3.8%
CWA-Emergency Storage Charge 5,178,000 3,736,939 3,831,000 94,061 2.5%
MWD-Capacity Res Charge 840,000 638,773 615,000 (23,773) (3.9%)
MWD-Readiness to Serve Charge 684,000 526,105 513,000 (13,105) (2.6%)
Subtotal Water Purchases 77,465,000 57,168,217 56,449,700$ (718,516) (1.3%)
Power Charges 5,058,000 3,504,106 3,799,900 295,794 7.8%
Payroll & Related Costs 27,724,800 20,221,104 21,391,300 1,170,196 5.5%
Materials & Maintenance 5,224,400 3,495,163 3,919,300 424,137 10.8%
Administrative Expenses 9,526,800 6,544,801 7,179,100 634,299 8.8%
Legal Fees 402,000 466,762 301,500 (165,262) (54.8%)
Expansion Reserve 5,720,000 4,290,000 4,290,000 - 0.0%
Betterment Reserve 2,643,300 1,982,500 1,982,500 - 0.0%
OPEB Trust 350,000 262,500 262,500 - 0.0%
General Fund Reserve 3,978,700 2,984,000 2,984,000 - 0.0%
Total Expenses 138,093,000$ 100,919,153 102,559,800$ 1,640,647 1.6%
EXCESS REVENUES(EXPENSES) -$ 171,158$ (1,304,800)$ 1,475,958$
OTAY WATER DISTRICT
COMPARATIVE BUDGET SUMMARY
F:/MORPT/FS2025-P9 Mar25 - EERP.xlsx 4/23/2025 4:30 PM
The year-to-date excess revenue of $171,158 is $1,475,958 more than the budgeted deficit of $1,304,800.
COMPARATIVE BUDGET SUMMARY
NET REVENUE AND EXPENSES
FOR THE NINE MONTHS ENDED MARCH 31, 2025
-$1,600,000
-$1,400,000
-$1,200,000
-$1,000,000
-$800,000
-$600,000
-$400,000
-$200,000
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
$1,800,000
$2,000,000
$2,200,000
$2,400,000
$2,600,000
$2,800,000
$3,000,000
$3,200,000
$3,400,000
JUL AUG OCT NOV DEC JAN FEB MAR APR MAY JUN
YTD Actual Net Revenues
YTD Budget Net Revenues
YTD Variance in Net Revenues
OTAY WATER DISTRICT
INVESTMENT PORTFOLIO REVIEW
March 31, 2025
INVESTMENT OVERVIEW & MARKET STATUS:
At the Federal Reserve Board's regular meeting on December 18, 2024, the Committee decided to lower the target range for the federal funds
rate from 4.50-4.75% to 4.25%-4.50%, considering the progress on inflation and the balance of risks. There have been no further changes
made to the federal funds rate at the most recent meeting which was held on March 19, 2025. At that meeting, the Committee felt economic
activity was continuing to expand at a solid pace. The Committee will evaluate the risk balance, outlook, and incoming data prior to making
any modifications to the federal funds target range. It is intended to support employment and restore inflation to its 2% objective by decreasing
Treasury securities and agency debt. The Committee will continue to observe the effects of incoming information on the economic outlook.
In determining the timing and size of future adjustments to the target range for the federal funds rate, they went on to say: "The Committee
would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's
goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions,
inflation pressures and inflation expectations, and financial and international developments."
The District's effective rate of return for March 2025 was 4.11%, which was 26 basis points lower than the previous month. LAIF's return
was two basis points lower than last month with an average effective yield of 4.31% for March 2025. The District has maintained a
competitive long-term rate of return on the portfolio. The current investment strategy includes an increased level of liquidity above historical
levels to meet anticipated higher liquidity requirements. As part of the District’s continued strategy, staff continuously monitors investment
options and liquidity needs. Currently no changes in investment strategy are being considered based on a competitive rate of return and
increased liquidity requirements
Under the District's Investment Policy, all District funds continue to be managed based on the objectives, in priority order, of safety, liquidity,
and return on investment.
PORTFOLIO COMPLIANCE: March 31, 2025
Investment State Limit Otay Limit Otay Actual
8.01: Treasury Securities 100% 100% 13.13%
8.02: Local Agency Investment Fund (Operations) $75 Million $75 Million $48.83 Million
8.03: Federal Agency Issues 100% 100% 30.84%
8.04: Certificates of Deposit 30% 15% 0
8.05: Short-Term Commercial Notes 25% 10% 0
8.06: Medium-Term Commercial Debt 30% 10% 0
8.07: Money Market Mutual Funds 20% 10% 3.65%
8.08: San Diego County Pool 100% 100% 0.08%
12.0: Maximum Single Financial Institution 100% 50% 0.87%
$823,690
0.87%
$48,907,772
51.51%
$45,212,552
47.62%
Otay Water District
Investment Portfolio: 03/31/2025
Banks (Passbook/Checking/CD)Pools (LAIF & County)Agencies,Treasury Securities & Money Market Mutual Funds
Total Cash and Investments: $94,944,014 (Book Value)
Jul
FY24
Aug
FY24
Sep
FY24
1st Qtr
FY24
Oct
FY24
Nov
FY24
Dec
FY24
2nd
Qtr
FY24
Jan
FY24
Feb
FY24
Mar
FY24
3rd
Qtr
FY24
Apr
FY24
May
FY24
Jun
FY24
4th Qtr
FY24
Jul
FY25
Aug
FY25
Sep
FY25
1st Qtr
FY25
Oct
FY25
Nov
FY25
Dec
FY25
2nd
Qtr
FY25
Jan
FY25
Feb
FY25
Mar
FY25
3rd
Qtr
FY25
Otay 3.71 3.74 3.83 3.76 3.76 3.86 3.90 3.84 3.86 4.01 3.90 3.92 4.04 4.02 4.12 4.06 4.13 4.21 4.23 4.19 4.16 4.16 4.08 4.13 4.10 4.37 4.11 4.19
LAIF 3.31 3.43 3.53 3.42 3.67 3.84 3.93 3.81 4.01 4.12 4.23 4.12 4.27 4.33 4.48 4.36 4.52 4.58 4.58 4.56 4.52 4.48 4.43 4.48 4.37 4.33 4.31 4.34
Difference 0.40 0.31 0.30 0.34 0.09 0.02 -0.03 0.03 -0.15 -0.11 -0.33 -0.20 -0.23 -0.31 -0.36 -0.30 -0.39 -0.37 -0.35 -0.37 -0.36 -0.32 -0.35 -0.34 -0.27 0.04 -0.20 -0.14
-1.00
0.00
1.00
2.00
3.00
4.00
5.00
Re
t
u
r
n
o
n
I
n
v
e
s
t
m
e
n
t
s
Month
Performance Measure FY-25
Return on Investment
Otay LAIF Difference
Target: Meet or Exceed 100% of LAIF
Month End
Portfolio Management
March 31, 2025
Portfolio Summary
% of
Portfolio
Book
ValueInvestmentsMarket
Value
Par
Value
Days to
MaturityTerm
YTM
360 Equiv.
YTM
365 Equiv.
Federal Agency Issues- Callable 11,500,000.00 79312.22 4.47348911,505,960.0011,500,000.00 4.535
Treasury Securities - Coupon 12,464,821.61 43213.24 4.32025112,475,335.0012,500,000.00 4.380
Federal Agency Issues - Bullet 17,779,465.09 1,06518.89 3.11524717,708,074.4017,796,000.00 3.158
Money Market 3,468,265.31 13.68 4.07513,468,265.313,468,265.31 4.132
Local Agency Investment Fund (LAIF)48,831,640.59 151.88 4.254148,873,107.9848,831,640.59 4.313
San Diego County Pool 76,132.11 10.08 3.699176,000.0076,132.11 3.750
94,120,324.71 100.00%Investments 94,106,742.6994,172,038.01 356 140 4.067 4.124
Cash
(not included in yield calculations)
Passbook/Checking 823,689.70 1 2.1491823,689.70823,689.70 2.179
94,944,014.41Total Cash and Investments 94,930,432.3994,995,727.71 356 140 4.067 4.124
Current Year
March 31
345,345.16
Fiscal Year To Date
3,521,983.12
Average Daily Balance
Effective Rate of Return
99,039,459.59 111,609,695.33
4.20%4.11%
Total Earnings Month Ending
I hereby certify that the investments contained in this report are made in accordance with the District Investment Policy Number 27 adopted by the Board of Directors on May 01, 2024. The investments
provide sufficient liquidity to meet the cash flow requirements of the District for the next six months of expenditures.
__________________________________________________ ____________________
Joseph Beachem, Chief Financial Officer
Portfolio OTAY
NL! APData Updated: SET_PM1: 04/22/2025 15:01
Reporting period 03/01/2025-03/31/2025
Run Date: 04/22/2025 - 15:01 PM (PRF_PM1) 7.3.11
Report Ver. 7.3.11
04/23/2025
YTM
360
Page 1
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
March 31, 2025
Portfolio Details - Investments
Average
BalanceIssuer
Portfolio Management
Month End
Days to
MaturityMoody'sCUSIP Investment #
Purchase
Date
Federal Agency Issues- Callable
4.468Federal Home Loan Bank2422 1,000,000.00 1,000,000.00 05/10/20274.53011/15/2024 998,640.00 Aaa3130B3R54 769
4.290Federal Home Loan Bank2425 7,500,000.00 7,500,000.00 12/30/20264.35012/30/2024 7,506,150.00 Aaa3130B4DY4 638
4.932Federal Home Loan Mortgage2406 3,000,000.00 3,000,000.00 04/25/20255.00010/25/2022 3,001,170.00 Aaa3134GX6A7 24
11,500,000.0011,505,960.0011,500,000.0011,500,000.00Subtotal and Average 4.473 489
Treasury Securities - Coupon
4.998US TREASURY2418 3,000,000.00 2,996,977.37 07/31/20254.75011/01/2023 3,004,230.00 Aaa91282CHN4 121
4.110US TREASURY2426 7,500,000.00 7,504,472.06 12/31/20254.25001/06/2025 7,506,225.00 Aaa91282CJS1 274
4.143US TREASURY2427 1,000,000.00 981,174.51 03/31/20262.25002/05/2025 982,440.00 Aaa9128286L9 364
4.034US TREASURY2428 1,000,000.00 982,197.67 03/31/20262.25003/27/2025 982,440.00 Aaa9128286L9 364
12,464,821.6112,475,335.0012,500,000.0014,541,974.80Subtotal and Average 4.320 251
Federal Agency Issues - Bullet
2.855Federal Farm Credit Bank2397 2,000,000.00 1,999,816.05 04/25/20252.75004/26/2022 1,997,840.00 Aaa3133ENVC1 24
4.261Federal Farm Credit Bank2402 3,000,000.00 2,999,030.42 09/30/20254.25009/30/2022 2,999,160.00 Aaa3133ENP95 182
4.932Federal Farm Credit Bank2420 1,000,000.00 996,693.01 03/05/20264.62504/17/2024 1,004,820.00 Aaa3133EP4K8 338
4.679Federal Farm Credit Bank2421 1,000,000.00 1,000,099.91 05/06/20274.75005/28/2024 1,015,870.00 Aaa3133ERDS7 765
4.060Federal Farm Credit Bank2423 2,000,000.00 2,000,290.42 12/16/20264.12512/16/2024 2,005,300.00 Aaa3133ERK42 624
4.864Federal Farm Credit Bank2424 3,000,000.00 2,999,540.43 07/28/20254.87511/17/2023 3,005,070.00 Aaa3133EPRS6 118
0.612Federal Home Loan Mortgage2391 1,045,000.00 1,043,788.90 09/23/20250.37509/16/2021 1,025,563.00 Aaa3137EAEX3 175
0.618Federal Home Loan Mortgage2392 2,751,000.00 2,747,745.92 09/23/20250.37509/22/2021 2,699,831.40 Aaa3137EAEX3 175
1.129Federal National Mortage Assoc2394 2,000,000.00 1,992,460.03 11/07/20250.50012/15/2021 1,954,620.00 Aaa3135G06G3 220
17,779,465.0917,708,074.4017,796,000.0017,778,241.65Subtotal and Average 3.115 247
Money Market
4.162Blackrock T - Fund Inst9010 19,517.46 19,517.46 4.22019,517.46RESERVE-10A WRB 1
4.172Blackrock T - Fund Inst9011 45,013.31 45,013.31 4.23045,013.31RESERVE 10 BABS 1
4.073FIRST AMERICAN US TREASURY9016 3,403,734.54 3,403,734.54 4.1303,403,734.54OWD TRUST & CUS 1
3,468,265.313,468,265.313,468,265.31444,683.90Subtotal and Average 4.075 1
Local Agency Investment Fund (LAIF)
4.254STATE OF CALIFORNIA9001 48,831,640.59 48,831,640.59 4.31348,873,107.98LAIF 1
48,831,640.5948,873,107.9848,831,640.5952,821,963.17Subtotal and Average 4.254 1
Portfolio OTAY
NL! APData Updated: SET_PM1: 04/22/2025 15:01
Run Date: 04/22/2025 - 15:01 PM (PRF_PM2) 7.3.11
Report Ver. 7.3.11
YTM
360
Page 2
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
March 31, 2025
Portfolio Details - Investments
Average
BalanceIssuer
Portfolio Management
Month End
Days to
MaturityMoody'sCUSIP Investment #
Purchase
Date
San Diego County Pool
3.699San Diego County9007 76,132.11 76,132.11 3.75076,000.00SD COUNTY POOL 1
76,132.1176,000.0076,132.1176,132.11Subtotal and Average 3.699 1
99,039,459.59 94,172,038.01 4.067 14094,106,742.69 94,120,324.71Total and Average
Portfolio OTAY
NL! APData Updated: SET_PM1: 04/22/2025 15:01
Run Date: 04/22/2025 - 15:01 PM (PRF_PM2) 7.3.11
YTM
360
Page 3
Par Value Book Value
Stated
RateMarket Value
March 31, 2025
Portfolio Details - Cash
Average
BalanceIssuer
Portfolio Management
Month End
Days to
MaturityMoody'sCUSIP Investment #
Purchase
Date
US Bank
0.000STATE OF CALIFORNIA9003 3,100.00 3,100.003,100.00PETTY CASH 1
2.219STATE OF CALIFORNIA9004 797,558.21 797,558.21 2.250797,558.21OPERATING 1
0.000STATE OF CALIFORNIA9005 4,554.82 4,554.8207/01/2024 4,554.82PAYROLL 1
0.000STATE OF CALIFORNIA9014 18,476.67 18,476.6707/01/2024 18,476.67FLEX ACCT 1
0.00
99,039,459.59 94,995,727.71 4.067 140
1Average Balance
94,930,432.39 94,944,014.41Total Cash and Investments
Portfolio OTAY
NL! APData Updated: SET_PM1: 04/22/2025 15:01
Run Date: 04/22/2025 - 15:01 PM (PRF_PM2) 7.3.11
Month End
Activity Report
Sorted By Issuer
March 1, 2025 - March 31, 2025
Current
Rate
Transaction
Date BalanceBeginning
Balance
Ending
Par Value
Percent
of Portfolio
Par Value
CUSIP Investment #Issuer
Purchases or
Deposits
Redemptions or
Withdrawals
Issuer: Blackrock T - Fund Inst
Money Market
Blackrock T - Fund Inst9010 2,016.334.220 0.00RESERVE-10A WRB
Blackrock T - Fund Inst9011 5,287.404.220 0.00RESERVE 10 BABS
0.0057,227.04 64,530.77Subtotal and Balance 7,303.73
7,303.73 0.0057,227.04 64,530.770.068%Issuer Subtotal
Issuer: STATE OF CALIFORNIA
US Bank
STATE OF CALIFORNIA9004 1,449,656.452.250 1,077,142.97OPERATING
STATE OF CALIFORNIA9005 3,349.04 0.00PAYROLL
STATE OF CALIFORNIA9014 369.99 17,635.94FLEX ACCT
1,094,778.91465,093.13 823,689.70Subtotal and Balance 1,453,375.48
Local Agency Investment Fund (LAIF)
STATE OF CALIFORNIA9001 2,900,000.004.313 9,800,000.00LAIF
9,800,000.0055,731,640.59 48,831,640.59Subtotal and Balance 2,900,000.00
4,353,375.48 10,894,778.9156,196,733.72 49,655,330.2952.271%Issuer Subtotal
Issuer: FIRST AMERICAN US TREASURY
Money Market
FIRST AMERICAN US TREASURY9016 4,168,099.114.130 992,955.87OWD TRUST & CUS
992,955.87228,591.30 3,403,734.54Subtotal and Balance 4,168,099.11
4,168,099.11 992,955.87228,591.30 3,403,734.543.583%Issuer Subtotal
Issuer: Federal Farm Credit Bank
Federal Agency Issues - Bullet
12,000,000.00 12,000,000.00Subtotal and Balance
Portfolio OTAY
NL! APData Updated: SET_PM1: 04/22/2025 15:01
Run Date: 04/22/2025 - 15:01 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Current
Rate
Transaction
Date BalanceBeginning
Balance
Ending
Par Value
Page 2
Percent
of Portfolio
Par Value
March 1, 2025 - March 31, 2025
Activity Report
Month End
CUSIP Investment #Issuer
Purchases or
Deposits
Redemptions or
Withdrawals
0.00 0.0012,000,000.00 12,000,000.0012.632%Issuer Subtotal
Issuer: Federal Home Loan Bank
Federal Agency Issues- Callable
8,500,000.00 8,500,000.00Subtotal and Balance
0.00 0.008,500,000.00 8,500,000.008.948%Issuer Subtotal
Issuer: Federal Home Loan Mortgage
Federal Agency Issues- Callable
3,000,000.00 3,000,000.00Subtotal and Balance
Federal Agency Issues - Bullet
3,796,000.00 3,796,000.00Subtotal and Balance
0.00 0.006,796,000.00 6,796,000.007.154%Issuer Subtotal
Issuer: Federal National Mortage Assoc
Federal Agency Issues - Bullet
2,000,000.00 2,000,000.00Subtotal and Balance
0.00 0.002,000,000.00 2,000,000.002.105%Issuer Subtotal
Issuer: San Diego County
San Diego County Pool
76,132.11 76,132.11Subtotal and Balance
0.00 0.0076,132.11 76,132.110.080%Issuer Subtotal
Issuer: US TREASURY
Treasury Securities - Coupon
US TREASURY2419 0.003.875 03/31/2025 3,000,000.0091282CGU9
US TREASURY2428 1,000,000.002.250 03/27/2025 0.009128286L9
3,000,000.0014,500,000.00 12,500,000.00Subtotal and Balance 1,000,000.00
Portfolio OTAY
NL! APData Updated: SET_PM1: 04/22/2025 15:01
Run Date: 04/22/2025 - 15:01 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Current
Rate
Transaction
Date BalanceBeginning
Balance
Ending
Par Value
Page 3
Percent
of Portfolio
Par Value
March 1, 2025 - March 31, 2025
Activity Report
Month End
CUSIP Investment #Issuer
Purchases or
Deposits
Redemptions or
Withdrawals
1,000,000.00 3,000,000.0014,500,000.00 12,500,000.0013.158%Issuer Subtotal
100,354,684.17 94,995,727.71Total14,887,734.789,528,778.32100.000%
Portfolio OTAY
NL! APData Updated: SET_PM1: 04/22/2025 15:01
Run Date: 04/22/2025 - 15:01 DA (PRF_DA) 7.3.11
Report Ver. 7.3.11
Month End
Duration Report
Sorted by Investment Type - Investment Type
Through 03/31/2025
Investment #Security ID Issuer Investment
Class
Book
Value
Par
Value
Market
Value
Current
Rate
YTM Current
Yield
Maturity/
Call Date DurationModified360Fund
Federal Home Loan Mortgage240699 3,000,000.00 3,001,170.003134GX6A7 4.343 04/25/2025 0.0653,000,000.00 4.932Fair5.0000000
Federal Home Loan Bank242299 1,000,000.00 998,640.003130B3R54 4.600 05/10/2027 1.9561,000,000.00 4.468Fair4.5300000
Federal Home Loan Bank242599 7,500,000.00 7,506,150.003130B4DY4 4.304 12/30/2026 1.6497,500,000.00 4.290Fair4.3500000
US TREASURY241899 3,000,000.00 3,004,230.0091282CHN4 4.344 07/31/2025 0.3312,996,977.37 4.998Fair4.7500000
US TREASURY242699 7,500,000.00 7,506,225.0091282CJS1 4.144 12/31/2025 0.7237,504,472.06 4.110Fair4.2500000
US TREASURY242799 1,000,000.00 982,440.009128286L9 4.060 03/31/2026 0.971981,174.51 4.143Fair2.2500000
US TREASURY242899 1,000,000.00 982,440.009128286L9 4.060 03/31/2026 0.971982,197.67 4.034Fair2.2500000
Federal Home Loan Mortgage239199 1,045,000.00 1,025,563.003137EAEX3 4.326 09/23/2025 0.4791,043,788.90 0.612Fair.37500000
Federal Home Loan Mortgage239299 2,751,000.00 2,699,831.403137EAEX3 4.326 09/23/2025 0.4792,747,745.92 0.618Fair.37500000
Federal National Mortage Assoc239499 2,000,000.00 1,954,620.003135G06G3 4.373 11/07/2025 0.5851,992,460.03 1.129Fair.50000000
Federal Farm Credit Bank239799 2,000,000.00 1,997,840.003133ENVC1 4.259 04/25/2025 0.0651,999,816.05 2.855Fair2.7500000
Federal Farm Credit Bank240299 3,000,000.00 2,999,160.003133ENP95 4.307 09/30/2025 0.4982,999,030.42 4.261Fair4.2500000
Federal Farm Credit Bank242099 1,000,000.00 1,004,820.003133EP4K8 4.093 03/05/2026 0.898996,693.01 4.932Fair4.6250000
Federal Farm Credit Bank242199 1,000,000.00 1,015,870.003133ERDS7 3.956 05/06/2027 1.9471,000,099.91 4.679Fair4.7500000
Federal Farm Credit Bank242399 2,000,000.00 2,005,300.003133ERK42 3.966 12/16/2026 1.6162,000,290.42 4.060Fair4.1250000
Federal Farm Credit Bank242499 3,000,000.00 3,005,070.003133EPRS6 4.316 07/28/2025 0.3232,999,540.43 4.864Fair4.8750000
Blackrock T - Fund Inst901099 19,517.46 19,517.46RESERVE-10A 4.220 0.00019,517.46 4.162Amort4.2200000
Blackrock T - Fund Inst901199 45,013.31 45,013.31RESERVE 10 4.230 0.00045,013.31 4.172Amort4.2300000
FIRST AMERICAN US TREASURY901699 3,403,734.54 3,403,734.54OWD TRUST &4.130 0.0003,403,734.54 4.073Amort4.1300000
STATE OF CALIFORNIA900199 48,831,640.59 48,873,107.98LAIF 4.313 0.00048,831,640.59 4.254Fair4.3130000
San Diego County900799 76,132.11 76,000.00SD COUNTY 3.750 0.00076,132.11 3.699Fair3.7500000
4.278 0.36694,120,324.71 94,172,038.01 94,106,742.69Report Total
† = Duration can not be calculated on these investments due to incomplete Market price data.
Portfolio OTAY
NL! APPage 1Data Updated: SET_PM1: 04/22/2025 15:01
Run Date: 04/22/2025 - 15:01 DU (PRF_DU) 7.3.11
Report Ver. 7.3.11
Month End
GASB 31 Compliance Detail
Sorted by Fund - Fund
March 1, 2025 - March 31, 2025
Investment #Maturity
Date
Beginning
Invested Value
Purchase
of Principal
InvestmentClassFundCUSIP
Adjustment in Value
Ending
Invested Value
Addition
to Principal
Redemption
of Principal
Amortization
Adjustment
Change in
Market Value
Fund: Treasury Fund
2392 2,691,743.46Fair Value 09/23/2025 8,087.9499 2,699,831.403137EAEX30.00 0.00 0.00 0.00
2406 3,002,190.00Fair Value 04/25/2025 -1,020.0099 3,001,170.003134GX6A70.00 0.00 0.00 0.00
2391 1,022,490.70Fair Value 09/23/2025 3,072.3099 1,025,563.003137EAEX30.00 0.00 0.00 0.00
2394 1,950,580.00Fair Value 11/07/2025 4,040.0099 1,954,620.003135G06G30.00 0.00 0.00 0.00
2422 998,590.00Fair Value 05/10/2027 50.0099 998,640.003130B3R540.00 0.00 0.00 0.00
2425 7,508,400.00Fair Value 12/30/2026 -2,250.0099 7,506,150.003130B4DY40.00 0.00 0.00 0.00
9003 3,100.00Amortized 0.0099 3,100.00PETTY CASH 0.00 0.00 0.00 0.00
9004 425,044.73Amortized 0.0099 797,558.21OPERATING0.00 1,449,656.45 1,077,142.97 0.00
9014 35,742.62Amortized 0.0099 18,476.67FLEX ACCT 0.00 369.99 17,635.94 0.00
9005 1,205.78Amortized 0.0099 4,554.82PAYROLL0.00 3,349.04 0.00 0.00
9001 55,710,573.19Fair Value 62,534.7999 48,873,107.98LAIF0.00 2,900,000.00 9,800,000.00 0.00
2424 3,006,300.00Fair Value 07/28/2025 -1,230.0099 3,005,070.003133EPRS60.00 0.00 0.00 0.00
2423 2,003,120.00Fair Value 12/16/2026 2,180.0099 2,005,300.003133ERK420.00 0.00 0.00 0.00
2421 1,014,590.00Fair Value 05/06/2027 1,280.0099 1,015,870.003133ERDS70.00 0.00 0.00 0.00
2420 1,004,560.00Fair Value 03/05/2026 260.0099 1,004,820.003133EP4K80.00 0.00 0.00 0.00
2402 2,999,340.00Fair Value 09/30/2025 -180.0099 2,999,160.003133ENP950.00 0.00 0.00 0.00
2397 1,995,080.00Fair Value 04/25/2025 2,760.0099 1,997,840.003133ENVC10.00 0.00 0.00 0.00
2428 0.00Fair Value 03/31/2026 486.8799 982,440.009128286L9981,953.13 0.00 0.00 0.00
2418 3,005,520.00Fair Value 07/31/2025 -1,290.0099 3,004,230.0091282CHN40.00 0.00 0.00 0.00
2427 980,550.00Fair Value 03/31/2026 1,890.0099 982,440.009128286L90.00 0.00 0.00 0.00
2419 2,998,590.00Fair Value 03/31/2025 1,410.0099 0.0091282CGU90.00 0.00 3,000,000.00 0.00
2426 7,505,025.00Fair Value 12/31/2025 1,200.0099 7,506,225.0091282CJS10.00 0.00 0.00 0.00
9007 76,000.00Fair Value 0.0099 76,000.00SD COUNTY POOL 0.00 0.00 0.00 0.00
9016 228,591.30Amortized 0.0099 3,403,734.54OWD TRUST & CUS 0.00 4,168,099.11 992,955.87 0.00
9011 39,725.91Amortized 0.0099 45,013.31RESERVE 10 BABS 0.00 5,287.40 0.00 0.00
9010 17,501.13Amortized 0.0099 19,517.46RESERVE-10A WRB 0.00 2,016.33 0.00 0.00
100,224,153.82Subtotal 83,281.90 94,930,432.39981,953.13 8,528,778.32 14,887,734.78 0.00
100,224,153.82Total 94,930,432.3983,281.90981,953.13 8,528,778.32 14,887,734.78 0.00
Portfolio OTAY
NL! APData Updated: SET_PM1: 04/22/2025 15:01
Run Date: 04/22/2025 - 15:01 GD (PRF_GD) 7.3.11
Report Ver. 7.3.11
Month End
Interest Earnings
Sorted by Fund - Fund
March 1, 2025 - March 31, 2025
Yield on Beginning Book Value
Maturity
Date
Current
Rate
Ending
Par Value
EndingSecurityTypeFundBook ValueBeginningBook Value
Adjusted Interest Earnings
Accretion
Amortization/
Earnings
Adjusted InterestAnnualized
YieldCUSIPInvestment #Interest
Earned
Fund: Treasury Fund
2,747,745.9223922,751,000.00 0.375FAC09/23/2025 859.69 567.58 1,427.270.612992,747,178.343137EAEX3
3,000,000.0024063,000,000.00 5.000MC104/25/2025 12,500.00 0.00 12,500.004.906993,000,000.003134GX6A7
1,043,788.9023911,045,000.00 0.375FAC09/23/2025 326.56 211.24 537.800.607991,043,577.663137EAEX3
1,992,460.0323942,000,000.00 0.500FAC11/07/2025 833.33 1,047.22 1,880.551.112991,991,412.813135G06G3
1,000,000.0024221,000,000.00 4.530MC105/10/2027 3,775.00 0.00 3,775.004.445991,000,000.003130B3R54
7,500,000.0024257,500,000.00 4.350MC112/30/2026 27,187.50 0.00 27,187.504.268997,500,000.003130B4DY4
3,100.0090033,100.00PA1 0.00 0.00 0.00993,100.00PETTY CASH
797,558.219004797,558.21 2.250PA1 3,509.85 0.00 3,509.859.72399425,044.73OPERATING
18,476.67901418,476.67PA1 0.00 0.00 0.009935,742.62FLEX ACCT
4,554.8290054,554.82PA1 0.00 0.00 0.00991,205.78PAYROLL
48,831,640.59900148,831,640.59 4.313LA1 193,491.92 0.00 193,491.924.0889955,731,640.59LAIF
2,999,540.4324243,000,000.00 4.875FAC07/28/2025 12,187.50 117.84 12,305.344.830992,999,422.593133EPRS6
2,000,290.4224232,000,000.00 4.125FAC12/16/2026 6,875.00 -14.16 6,860.844.038992,000,304.583133ERK42
1,000,099.9124211,000,000.00 4.750FAC05/06/2027 3,958.33 -3.97 3,954.364.655991,000,103.883133ERDS7
996,693.0124201,000,000.00 4.625FAC03/05/2026 3,854.17 297.04 4,151.214.90599996,395.973133EP4K8
2,999,030.4224023,000,000.00 4.250FAC09/30/2025 10,625.00 162.50 10,787.504.235992,998,867.923133ENP95
1,999,816.0523972,000,000.00 2.750FAC04/25/2025 4,583.33 229.93 4,813.262.834991,999,586.123133ENVC1
982,197.6724281,000,000.00 2.250TRC03/31/2026 308.73 244.54 553.274.113990.009128286L9
2,996,977.3724183,000,000.00 4.750TRC07/31/2025 12,203.03 774.39 12,977.425.100992,996,202.9891282CHN4
981,174.5124271,000,000.00 2.250TRC03/31/2026 1,915.88 1,603.27 3,519.154.23099979,571.249128286L9
0.0024190.00 3.875TRC03/31/2025 9,581.04 2,934.30 12,515.345.081992,997,065.7091282CGU9
7,504,472.0624267,500,000.00 4.250TRC12/31/2025 27,296.27 -505.96 26,790.314.203997,504,978.0291282CJS1
76,132.11900776,132.11 3.750LA3 242.48 0.00 242.483.7509976,132.11SD COUNTY POOL
3,403,734.5490163,403,734.54 4.130PA2 1,347.36 0.00 1,347.366.94099228,591.30OWD TRUST & CUS
45,013.31901145,013.31 4.230PA2 147.94 0.00 147.944.3859939,725.91RESERVE 10 BABS
19,517.46901019,517.46 4.220PA2 69.49 0.00 69.494.6759917,501.13RESERVE-10A WRB
94,995,727.71Subtotal 94,944,014.41 4.283 345,345.167,665.76337,679.40100,313,351.98
94,995,727.71Total 94,944,014.41 4.283 345,345.167,665.76337,679.40100,313,351.98
Portfolio OTAY
NL! APData Updated: SET_PM1: 04/22/2025 15:01
Run Date: 04/22/2025 - 15:01 IE (PRF_IE) 7.3.11
Report Ver. 7.3.11
Check Num Check Amt Invoice Description Invoice Total Check Dt Vendor Num Invoice Num
2063511 638.69 ELEVATOR GENERAL MAINT 638.69 4/2/2025 15416 182621
ELEVATOR GENERAL MAINT 638.69 4/16/2025 15416 188986
ELEVATOR GENERAL MAINT 2,758.50 4/16/2025 15416 189507
CLIMATE ADAPTATION PLAN 121.40 4/2/2025 22463 20256000
CLIMATE ADAPTATION PLAN 348.48 4/2/2025 22463 20255999
CLIMATE ADAPTATION PLAN 2,366.55 4/2/2025 22463 20256001
2063544 8,925.00 NEW A/V EQUIPMENT FOR TRAINING 8,925.00 4/9/2025 30042 6508
2063581 33,764.65 RETENTION/PACIFIC HYDROTECH 33,764.65 4/16/2025 22643 403302025
BILLING ADMINISTRATION 80.00 4/16/2025 22138 861702
BILLING ADMINISTRATION 206.70 4/16/2025 22138 863747
2063583 3,921.42 OMNI 3" MMP 3,643.01 4/16/2025 3492 0107245
2063622 67,893.42 PROF SERV - (MAR 2025)67,893.42 4/23/2025 17264 309753
2063623 5,500.00 LEGAL SERVICES 5,500.00 4/23/2025 17264 04222025
2063624 93,229.24 FY25 WORKERS' COMP PROG (QTR 3)93,229.24 4/23/2025 20199 ACCT Z010 - WC QTR
3
2063513 3,912.97 TELEPHONE SERVICES (2/12/25-3/11/25)3,912.97 4/2/2025 7785 0000023162204
2063584 8,924.60 JANITORIAL SERV - (MAR 2025)8,924.60 4/16/2025 20125 J2028
2063631 135.00 EXPENSE REIMBURSEMENT 135.00 4/23/2025 2965 042125
2063567 58.84 UB REFUND 0000293837 58.84 4/9/2025 99999 ubRef040825007
ARMORED TRANSPORTATION SERVICE 4.06 4/2/2025 21775 7324458
ARMORED TRANSPORTATION SERVICE 323.66 4/2/2025 21775 12856179
2063515 1,811.18 LEGISLATIVE ADVOCACY CONSULTING 1,811.18 4/2/2025 8156 1027809
2063625 4,670.93 LEGISLATIVE ADVOCACY CONSULTING 4,670.93 4/23/2025 8156 1032235
2063516 1,794.00 LEGAL CONSULTING SERVICES 1,794.00 4/2/2025 3005 338728
2063568 2,685.00 UB REFUND 0000297729 2,685.00 4/9/2025 99999 ubRef040825008
2063569 2,685.00 UB REFUND 0000297929 2,685.00 4/9/2025 99999 ubRef040825009
2063585 852.60 ACA REPORTING SERV (MAR 2025)852.60 4/16/2025 18154 127688
2063517 7,856.25 RFWCWRF DISINFECT SYS (FEB 2025)7,856.25 4/2/2025 15177 FB63640
2063626 3,807.50 RFWCWRF DISINFECT SYS (MAR 2025)3,807.50 4/23/2025 15177 FB64288
2063570 50.04 UB REFUND 0000290655 50.04 4/9/2025 99999 ubRef040825006
AARC CONSULTANTS LLC 2063512 2,836.43
Check Register Check Dates: 3/20/2025 thru 4/23/2025
payee
24 HOUR ELEVATOR INC
2063580 3,397.19
ABSOLUTE AV DESIGN
AMERICAN BUSINESS BANK
AMERIFLEX 2063582 286.70
ASSOC OF CA WATER AGENCIES
AT&T
AZTEC LANDSCAPING INC
AQUA-METRIC SALES COMPANY
ARTIANO SHINOFF ABED
BROWNSTEIN HYATT FARBER
BURKE WILLIAMS & SORENSEN LLP
BRANDON DIPIETRO
BRANDY NAGY
BRINKS INC 2063514 327.72
CAROLLO ENGINEERS INC
CASEY BRUNO
BURTECH PIPELINE
BUSINESSOLVER.COM INC
4/24/2025 7:17:27 PM Page 1
Check Register Check Dates: 3/20/2025 thru 4/23/2025
2063518 3,825.00 ENVIRONMENTAL SERV (DEC 2024)3,825.00 4/2/2025 21705 37631
2063497 83.84 UB REFUND 0000293423 83.84 3/26/2025 99999 ubRef032725013
PM SERVICES ON SWITCHGEARS 7,500.00 4/2/2025 6418 19640
PM SERVICES ON SWITCHGEARS 14,973.00 4/2/2025 6418 19641
2063520 10,683.17 DEPOSIT FEES FOR INSPECTION 10,683.17 4/2/2025 446 UP240198022525
BACTERIOLOGICAL TESTING (2/28/25)250.00 4/23/2025 4119 39856
BACTERIOLOGICAL TESTING (2/28/25)270.00 4/23/2025 4119 39855
BACTERIOLOGICAL TESTING (2/28/25)1,020.00 4/23/2025 4119 39854
2063652 42.53 UB REFUND 0000299834 42.53 4/23/2025 99999 ubRef042225003
2063587 540.75 FY25 DATA SERVICES - REALQUEST 540.75 4/16/2025 15049 82244425
2063628 5,594.55 405 GALLON TANK 5,190.00 4/23/2025 2643 C2025089
2063521 113.50 COUNTY EXCAVATION PERMITS (DEC 2024)113.50 4/2/2025 99 DPWAROTAYMWD-
1224
UPFPPERMIT RENEWAL (APR 2025-APR 2026)708.00 4/2/2025 184 2818021425
UPFPPERMIT RENEWAL (APR 2025-APR 2026)1,142.00 4/2/2025 184 5731021425
COUNTY EXCAVATION PERMITS (JAN 2025)729.00 4/16/2025 99 DPWAROTAYMWD-
0125
COUNTY EXCAVATION PERMITS (JAN 2025)1,024.10 4/16/2025 99 DPWAROTAYMWD-
0225
PERMIT FEES #04745 (MAY 2025-MAY 2026)687.00 4/16/2025 2122 045442002RI2025
PERMIT FEES #04745 (MAY 2025-MAY 2026)687.00 4/16/2025 2122 047452002RI2025
2063629 708.00 UPFP PERMIT RENEWAL (MAY 2025-MAY 2026)708.00 4/23/2025 184 2139031725
SHUT DOWN TEST (MAR 2025)210.90 4/23/2025 184 2003193E632820325
SHUT DOWN TEST (MAR 2025)233.00 4/23/2025 184 2003193E640610325
SHUT DOWN TEST (MAR 2025)233.00 4/23/2025 184 2003193E642340325
SHUT DOWN TEST (MAR 2025)233.00 4/23/2025 184 20034193E634530325
SHUT DOWN TEST (MAR 2025)349.50 4/23/2025 184 2003193E642330325
SHUT DOWN TEST (MAR 2025)466.00 4/23/2025 184 2003193E642260325
SHUT DOWN TEST (MAR 2025)466.00 4/23/2025 184 2003193E642290325
SHUT DOWN TEST (MAR 2025)932.00 4/23/2025 184 2003193E642400325
2063653 25.79 UB REFUND 0000293848 25.79 4/23/2025 99999 ubRef042225002
2063498 150.00 UB REFUND 0000291678 150.00 3/26/2025 99999 ubRef032725010
CHAMBERS GROUP INC
CHOUCRI MANSOUR
CHULA VISTA ELECTRIC CO 2063519 22,473.00
CLAYTON TAYLOR
CORELOGIC SOLUTIONS LLC
CORE-ROSION PRODUCTS
CITY OF CHULA VISTA
CLARKSON LAB & SUPPLY INC 2063627 1,540.00
2063630 3,123.40
COURTNEY AVILES
DAVID LEYVA
COUNTY OF SAN DIEGO
2063522 1,850.00
2063589 1,753.10
2063590 1,374.00
4/24/2025 7:17:27 PM Page 2
Check Register Check Dates: 3/20/2025 thru 4/23/2025
MILEAGE REIMBURSEMENT - (JAN 2025)6.30 4/2/2025 30035 010125013125
MILEAGE REIMBURSEMENT - (FEB 2025)36.40 4/2/2025 30035 020125022825
2063632 207.36 EMP QTR ENDING 033125 TAX 207.36 4/23/2025 21100 0870440 033125
2063606 1,392.60 EXPENSE REIMBURSEMENT 1,392.60 4/16/2025 7591 041125
2063524 4,798.57 OTAY LOGISTICS INDUSTRIAL PARK 4,798.57 4/2/2025 30072 032825
2063591 8,500.00 BIO-AUGMENTATION 8,500.00 4/16/2025 18983 3447
2063633 40,652.42 REASSEMBLY OF ANGLE GEAR 39,450.84 4/23/2025 19675 55040254
2063545 7,690.00 METER CHANGEOUT CONSULTING SERV 7,690.00 4/9/2025 21597 24635
2063592 7,690.00 METER CHANGEOUT CONSULTING SERV 7,690.00 4/16/2025 21597 24742
2063593 267.88 FY25 RECYCLED WASTE SERVICE 267.88 4/16/2025 2447 5458 033125
2063499 23.50 UB REFUND 0000251230 23.50 3/26/2025 99999 ubRef032725005
2063634 14,365.00 ELECTRICAL ENGINEERING SERVICE 14,365.00 4/23/2025 3765 14120A61355
2063525 793.13 WATER EFFICIENCY EVAL CONSULTING 793.13 4/2/2025 21206 OTAY CP-08
2063526 20,752.15 ENVIRONMENTAL SERVICES - (FEB 2025)20,752.15 4/2/2025 22412 205951
2063546 1,470.99 VISION BENEFITS ADMIN - (APR 2025)1,470.99 4/9/2025 20511 166727569
980-1 CLAVAL PUMP CONTROL VALVE 2,501.00 4/9/2025 3546 0875927-1
980-1 CLAVAL PUMP CONTROL VALVE 3,950.70 4/9/2025 3546 0877108
980-1 CLAVAL PUMP CONTROL VALVE 6,307.50 4/9/2025 3546 0877107
980-1 CLAVAL PUMP CONTROL VALVE 37,897.50 4/9/2025 3546 0869683
INVENTORY 682.95 4/16/2025 3546 0877727
INVENTORY 973.00 4/16/2025 3546 0875930
INVENTORY 2,217.90 4/16/2025 3546 0877882
INVENTORY 5,183.98 4/16/2025 3546 0874882
INVENTORY 16,250.00 4/16/2025 3546 0875928
2063635 99.00 DOCUMENT SERVICE FY 25 99.00 4/23/2025 17888 9003400325
2063636 150.00 FY25 GYM EQUIPMENT MAINTENANCE 150.00 4/23/2025 2591 12935
2063548 43.40 MILEAGE REIMBURSEMENT - (MAR 2025)43.40 4/9/2025 22628 030125033125
2063637 25.00 EXPENSE REIMBURSEMENT - (MAR 2025)25.00 4/23/2025 22628 030125033125 EXP
2063549 467.88 CAMPO RD SELF STORAGE 467.88 4/9/2025 30178 032825
2063550 5,278.93 GENESIS AT MILLENIA LOT 7&8 5,278.93 4/9/2025 21886 032825
2063571 27.53 UB REFUND 0000285458 27.53 4/9/2025 99999 ubRef040825005
DELFINA GONZALEZ 2063523 42.70
DRYLET INC
DXP ENTERPRISES INC
E SOURCE COMPANIES LLC
DIVISION OF EMPLOYMENT
DONGXING MA
DORCEY B. ABSHIER
ENVIRONMENTAL INCENTIVES INC
ENVIRONMENTAL SCIENCE ASSOC
EYEMED (FIDELITY)
EDCO DISPOSAL CORPORATION
EFRAIN ACOSTA
ENGINEERING PARTNERS INC
FERGUSON WATERWORKS # 1083 2063547 54,582.61
2063594 27,269.20
FRONTERA REAL ESTATE
GENESIS NEW HOMES LLC
GERARDO CERVANTES AGUILAR
FIRST AMERICAN DATA TREE LLC
FITNESS TECH
FRANCISCO RIVERA
4/24/2025 7:17:27 PM Page 3
Check Register Check Dates: 3/20/2025 thru 4/23/2025
2063595 9,629.28 CRADLEPOINT NETCLOUD SBSC 9,629.28 4/16/2025 3537 11470229
AS-NEEDED SODIUM HYPOCHLORITE 331.61 4/16/2025 19978 1026103
AS-NEEDED SODIUM HYPOCHLORITE 378.98 4/16/2025 19978 1024449
AS-NEEDED SODIUM HYPOCHLORITE 509.26 4/16/2025 19978 1023174
AS-NEEDED SODIUM HYPOCHLORITE 710.59 4/16/2025 19978 1023172
AS-NEEDED SODIUM HYPOCHLORITE 1,347.17 4/16/2025 19978 1024450
AS-NEEDED SODIUM HYPOCHLORITE 1,391.58 4/16/2025 19978 1026100
AS-NEEDED SODIUM HYPOCHLORITE 2,368.64 4/16/2025 19978 1026102
AS-NEEDED SODIUM HYPOCHLORITE 2,398.25 4/16/2025 19978 1023173
AS-NEEDED SODIUM HYPOCHLORITE 2,960.81 4/16/2025 19978 1026105
2063638 1,442.50 TEMP LABOR SERV (12/1/24-3/26/25)1,442.50 4/23/2025 19825 1200708196
2063597 204.40 AETNA EMPLOYEE ASSISTANCE PROG 204.40 4/16/2025 22165 E0343567
2063639 205.86 AETNA EMPLOYEE ASSISTANCE PROG 205.86 4/23/2025 22165 E0341319
2063500 88.18 UB REFUND 0000276291 88.18 3/26/2025 99999 ubRef032725007
ENVIRONMENTAL SERV (MAR 2025)1,295.00 4/16/2025 2008 127264
ENVIRONMENTAL SERV (MAR 2025)3,630.76 4/16/2025 2008 127252
2063599 1,331.01 3G XTR ENCODER INPUT W/2' 1,238.88 4/16/2025 21322 0003687
2063527 2,029.46 LAND SURVEYING (FEB 2025)2,029.46 4/2/2025 13349 2025020025
BILL PROCESSING SERVICES FY25 4,029.58 4/23/2025 8969 283000
BILL PROCESSING SERVICES FY25 7,525.42 4/23/2025 8969 284131
BILL PROCESSING SERVICES FY25 15,139.15 4/23/2025 8969 283001
BILL PROCESSING SERVICES FY25 16,079.50 4/23/2025 8969 284132
2063600 2,855.00 ANNUAL TREATMENT PLANT CHLORINE 2,855.00 4/16/2025 15368 13686
2063528 2,355.00 FY25 ANTENNA SUBLEASE 2,355.00 4/2/2025 20752 413180687
2063501 74.25 UB REFUND 0000290712 74.25 3/26/2025 99999 ubRef032725009
2063529 22,155.55 CORROSION SERVICES (1/6/25-3/8/25)22,155.55 4/2/2025 21642 11477
2063502 246.51 UB REFUND 0000293200 246.51 3/26/2025 99999 ubRef032725012
2063588 165.50 CERTIFICATION REIMBURSEMENT 165.50 4/16/2025 21268 JC041125
SKYLAR MILLENIA FM LOT 14 651.88 4/9/2025 22029 032825-D0958
SKYLAR MILLENIA FM LOT 14 10,631.71 4/9/2025 22029 032825
149.60 4/16/2025 22129 K11870
GHA TECHNOLOGIES INC
HASA INC.2063596 12,396.89
HECTOR LIZARAGA
HELIX ENVIRONMENTAL 2063598 4,925.76
HDR ENGINEERING INC
HEALTH AND HUMAN RESOURCE
HPS WEST INC.
HUNSAKER & ASSOCIATES
INFOSEND INC 2063640 43,123.39
JDH CORROSION CONSULTANTS INC
JEZELLE BOLES
JOHN CORRAO
INTEGRITY MUNICIPAL SYSTEMS
IWG TOWERS ASSETS II LLC
JAMYE SHELTON
KEPT COMPANIES INC 2063601 299.20 AS-NEEDED FLEET WASHING SVCS
KB HOME COASTAL INC 2063551 11,283.59
4/24/2025 7:17:27 PM Page 4
Check Register Check Dates: 3/20/2025 thru 4/23/2025
149.60 4/16/2025 22129 K6633
2063572 1,120.42 UB REFUND 0000300212 1,120.42 4/9/2025 99999 ubRef040825010
AS-NEEDED ASPHALTIC PAVING SERV (52.34)4/9/2025 5840 24-119-4 CM
AS-NEEDED ASPHALTIC PAVING SERV 4,077.20 4/9/2025 5840 24-119-4
2063602 203.86 RETAINAGE RELEASE 203.86 4/16/2025 5840 24-119-4R
AS-NEEDED ASPHALTIC PAVING SERV 50,606.70 4/23/2025 5840 24-172-8
AS-NEEDED ASPHALTIC PAVING SERV 60,750.80 4/23/2025 5840 24-172-2
2063603 3,230.00 CONSULTING SERVICES FOR TYLER 3,230.00 4/16/2025 22411 11165
2063604 3,809.10 TEMP METER STAND WELDING 3,809.10 4/16/2025 22569 1012
2063503 36.96 UB REFUND 0000265596 36.96 3/26/2025 99999 ubRef032725006
2063554 349.99 TUITION REIMBURSEMENT 349.99 4/9/2025 20947 LL040725
2063605 1,732.50 GEN HEALTH & SAFETY CONSULTING 1,732.50 4/16/2025 21524 4020
2063530 17,396.02 SCBA REPLACEMENTS 16,144.80 4/2/2025 17325 6108908
2063531 2,904.00 ADMIN LANDSCAPE UPGRADE 2,904.00 4/2/2025 21723 11589
2063607 945.00 ADMIN LANDSCAPE UPGRADE 945.00 4/16/2025 21723 11592
2063504 54.42 UB REFUND 0000282515 54.42 3/26/2025 99999 ubRef032725008
2063555 176.31 MILLENIA RAPID STATION 176.31 4/9/2025 22566 032825
2063505 67.75 UB REFUND 0000292976 67.75 3/26/2025 99999 ubRef032725011
ADA UPGRADE DESIGN SERV 720.00 4/23/2025 22375 2025.010
ADA UPGRADE DESIGN SERV 4,218.00 4/23/2025 22375 2025.009
2063556 2,397.74 1025 CORONADO AVE 2,397.74 4/9/2025 30179 032825
2063506 17.47 UB REFUND 0000062862 17.47 3/26/2025 99999 ubRef032725003
2063608 10,750.00 LANDSCAPE MAINTENANCE SERV 10,750.00 4/16/2025 17261 9747
2063643 845.25 WITHHOLDING TAX 033125 845.25 4/23/2025 20996 601397030 033125
ENGINEERING DESIGN SERV (AUG 2024)450.00 4/2/2025 18332 410925
ENGINEERING DESIGN SERV (JAN 2025)1,335.00 4/2/2025 18332 434801
ENGINEERING DESIGN SERV (JAN 2025)12,437.50 4/2/2025 18332 436328
2063507 30.20 UB REFUND 0000143195 30.20 3/26/2025 99999 ubRef032725004
2063557 1,900.71 1IN WET TAP 1,900.71 4/9/2025 30180 032825
2063558 12,443.83 OTAY RANCH TOSARA 12,443.83 4/9/2025 21200 032825
2063609 641,528.40 870-2 RES 3.4 MG & 870-1 RES 641,528.40 4/16/2025 6646 403302025
KEPT COMPANIES INC 2063601 299.20 AS-NEEDED FLEET WASHING SVCS
KOA HILLS CONSULTING LLC
L&N MOBILE WELDING SERV
LAWRENCE YOUNAN
KIARA THOMAS
KIRK PAVING INC 2063552 3,821.00
2063641 105,789.62
MERINO LANDSCAPE INC
MICHAEL PITTENGER
LEO LOPEZ
LINDSAY POLIC CONSULTING INC
MALLORY SAFETY & SUPPLY LLC
MK DEVELOPERS
N JACONETTE
NATURESCAPE SERVICES
MILLENIA 2022 LLC
MINHTHY CHU
MISCELLANEOUS INC 2063642 4,938.00
OLUWATOYIN DADA
OSSAMA ELASSAAD
PACIFIC COAST COMMUNITIES
NORTH CAROLINA DEPT OF REVENUE
NV5 INC 2063532 14,222.50
PACIFIC HYDROTECH CORPORATION
4/24/2025 7:17:27 PM Page 5
Check Register Check Dates: 3/20/2025 thru 4/23/2025
INVENTORY 1,536.00 4/16/2025 1002 S100474406.001
INVENTORY 2,740.00 4/16/2025 1002 S100474507.001
INVENTORY 4,441.20 4/16/2025 1002 S100472410.005
INVENTORY 6,283.00 4/16/2025 1002 S100472410.003
INVENTORY 18,434.30 4/16/2025 1002 S100472410.001
INVENTORY 30,031.00 4/16/2025 1002 S100473770.001
2063644 1,158.61 PETTY CASH REIMBURSEMENT 1,158.61 4/23/2025 137 042125
2063559 152.00 MEAL/TRAVEL ADVANCEMENT 152.00 4/9/2025 30184 041525PK
2063645 124.32 MILEAGE REIMBURSEMENT 124.32 4/23/2025 30184 041825
2063654 1,839.68 UB REFUND 0000300430 1,839.68 4/23/2025 99999 ubRef042225004
2063560 65.03 0 HARVEST RD 65.03 4/9/2025 30181 032825
2063561 3,757.57 14382 LYONS VALLEY RD 3,757.57 4/9/2025 30182 032825
2063646 5,562.50 WATER & SEWER COST OF SERVICE 5,562.50 4/23/2025 20861 38736
2063655 104.64 UB REFUND 0000212249 104.64 4/23/2025 99999 ubRef042225001
2063533 2,250.00 IN-PLANT INSPECT SERV (DEC 2024)2,250.00 4/2/2025 22507 98995
2063534 3,300.00 FY25 STRAT PLAN SOFTWARE REPORT 3,300.00 4/2/2025 21706 RB-03050
2063535 8,760.00 INVESTMENT ADVISOR 8,760.00 4/2/2025 19377 2025-14422
2063562 125.00 FY25 MONTHLY ASSESSOR DATA 125.00 4/9/2025 2586 202500275
2063536 270.00 SOCAL WATERSMART HEW HET WBIC 270.00 4/2/2025 3 2854
2063611 605.99 SOCAL WATERSMART HEW HET WBIC 605.99 4/16/2025 3 2864
UTILITY EXPENSES - MONTHLY 125.19 4/9/2025 121 031925
UTILITY EXPENSES - MONTHLY 948.98 4/9/2025 121 032725
UTILITY EXPENSES - MONTHLY 34,098.11 4/9/2025 121 040125
UTILITY EXPENSES - MONTHLY 55,409.77 4/9/2025 121 032625
UTILITY EXPENSES - MONTHLY 101,181.26 4/9/2025 121 033125
UTILITY EXPENSES - MONTHLY 72.52 4/16/2025 121 040325
UTILITY EXPENSES - MONTHLY 24,880.61 4/16/2025 121 040725
UTILITY EXPENSES - MONTHLY 105,025.96 4/16/2025 121 040825
2063508 359.30 UB REFUND 0000300265 359.30 3/26/2025 99999 ubRef032725014
2063564 670.00 ON-DEMAND SECURITY RESPONSE 670.00 4/9/2025 19603 12111839
2063573 626.04 UB REFUND 0000284567 626.04 4/9/2025 99999 ubRef040825003
PACIFIC PIPELINE SUPPLY INC 2063610 68,384.09
PORSCHE CLUB OF SAN DIEGO
R FAMILY PROPERTIES II LLC
RAFAEL SANTIAGO
PETTY CASH CUSTODIAN
PHILIP KUSSLER
ROOIBAARD GROUP LLC
SAGEVIEW ADVISORY GROUP LLC
SAN DIEGO COUNTY ASSESSOR
RAFTELIS
RAYMOND HESSER
RMA GROUP
SDE1 LLC
SECURITAS SECURITY SVC USA INC
SHEA HOMES
SAN DIEGO COUNTY WATER AUTH
SAN DIEGO GAS & ELECTRIC 2063563 191,763.31
2063612 129,979.09
4/24/2025 7:17:27 PM Page 6
Check Register Check Dates: 3/20/2025 thru 4/23/2025
2063647 340.00 EXPENSE REIMBURSEMENT 340.00 4/23/2025 20598 041525
2063574 876.72 UB REFUND 0000257255 876.72 4/9/2025 99999 ubRef040825002
2063509 235.60 UB REFUND 0000048190 235.60 3/26/2025 99999 ubRef032725002
2063537 60.00 CERTIFICATE RENEWAL 60.00 4/2/2025 1460 45664032725
2063538 80.00 CERTIFICATE RENEWAL 80.00 4/2/2025 1460 56135032725
2063648 1,701.00 ANNUAL PERMIT FEE - TREATMENT PLANT 1,701.00 4/23/2025 1460 SW0321485
2063649 943.00 ANNUAL PERMIT FEE (4/1/25-3/31/26)943.00 4/23/2025 1460 SW0321843
2063586 1,191.22 EXPENSE REIMBURSEMENT 1,191.22 4/16/2025 17487 041425
2063565 11,744.75 LIFE & STD/LTD INSURANCE 11,744.75 4/9/2025 15974 38166030125
UNLEADED & DIESEL FUEL 8,598.06 4/16/2025 10339 443782
UNLEADED & DIESEL FUEL 13,409.88 4/16/2025 10339 443733
2063650 1,200.00 COMMUNICATIONS CONSULTING 1,200.00 4/23/2025 18376 1785
2063575 1,118.81 UB REFUND 0000284748 1,118.81 4/9/2025 99999 ubRef040825004
2063566 2,204.20 PUBLIC RECOGNITION AND AWARDS 2,204.20 4/9/2025 408 OTAY 081424
2063651 2,410.00 UNMANNED AIRCRAFT SYSTEMS 2,410.00 4/23/2025 21394 Otay 17
2063614 105.00 PUBLIC HEARING NOTICE AD #0015 105.00 4/16/2025 13714 00151037
2063539 465.00 FIRE SPRINKLER INSPECTION 465.00 4/2/2025 22498 609323
2063615 912.68 FIRE SPRINKLER INSPECTION 912.68 4/16/2025 22498 611528
2063616 76.88 PUBLIC HEARING NOTICE AD #0015 76.88 4/16/2025 13564 00151038
2063553 235.00 MEAL/TRAVEL ADVANCEMENT 235.00 4/9/2025 3336 TK040825
2063576 93.25 UB REFUND 0000205454 93.25 4/9/2025 99999 ubRef040825001
2063540 5,000.00 ACTUARIAL SERVICES 5,000.00 4/2/2025 20755 14242
MUNIS ERP UPGRADE IMPLEMENTATION 1,600.00 4/2/2025 3261 045-509925
MUNIS ERP UPGRADE IMPLEMENTATION 3,200.00 4/2/2025 3261 045-511943
MUNIS ERP UPGRADE IMPLEMENTATION 2,400.00 4/16/2025 3261 045-513010
MUNIS ERP UPGRADE IMPLEMENTATION 4,800.00 4/16/2025 3261 045-513971
2063618 2,785.00 ADM FEES 2019 WW REV BOND (12/1/24-11/30/25)2,785.00 4/16/2025 20891 7579443
UNDERGROUND ALERTS FY25 307.36 4/23/2025 427 24253262
UNDERGROUND ALERTS FY25 631.60 4/23/2025 427 320250522
FY25 PORT. TOILET RENTAL 152.45 4/16/2025 15675 5231036
FY25 PORT. TOILET RENTAL 749.20 4/16/2025 15675 5228804
STATE WATER RESOURCES
SHIELA DILAYRE
SIGNATURE SR V2 R20 LLC
SOUTH BAY AUTO WRECKERS
SVPR COMMUNICATIONS LLC
SWCS INC
SWEETWATER AUTHORITY
STEPHANIE CHEN
SUN LIFE FINANCIAL
SUPREME OIL COMPANY 2063613 22,007.94
THE STAR NEWS PUBLISHING CO
THERESA KREINBRING
TONYA WILMORE
TEEDEEUAS LLC
THE EAST COUNTY CALIFORNIAN
THE HILLER COMPANIES
TOTAL COMPENSATION SYSTEMS INC
TYLER TECHNOLOGIES INC 2063541 4,800.00
2063617 7,200.00
UNITED SITE SERVICES INC 2063619 921.42
U.S. BANK NATIONAL ASSOCIATION
UNDERGROUND SERVICE ALERT 2063656 938.96
4/24/2025 7:17:27 PM Page 7
Check Register Check Dates: 3/20/2025 thru 4/23/2025
2063620 25,973.48 FY25 LEAK DETECTION SURVEY SERV 25,973.48 4/16/2025 18517 126747
2063577 5,952.24 BEST FIT MOVERS 5,952.24 4/9/2025 30183 032825
WATER INTERNS FY25 596.40 4/2/2025 20909 46922096
WATER INTERNS FY25 596.40 4/2/2025 20909 46928104
WATER INTERNS FY25 1,789.20 4/2/2025 20909 46929483
WATER INTERNS FY25 29.82 4/9/2025 20909 46933902
WATER INTERNS FY25 596.40 4/9/2025 20909 46929079
WATER INTERNS FY25 596.40 4/9/2025 20909 46934759
WATER INTERNS FY25 1,148.07 4/9/2025 20909 46933903
2063657 596.40 WATER INTERNS FY25 596.40 4/23/2025 20909 46949033
2063658 46,552.50 WATER CONSERVATION GARDEN OPS 46,552.50 4/23/2025 14879 002-FY 2024-25-OTAY
2063621 125.00 FY25 AS-NEEDED BEE REMOVAL SERV 125.00 4/16/2025 1343 83736
HYDRAULIC MODELING (FEB 2025)2,000.00 4/2/2025 19866 190495
HYDRAULIC MODELING (FEB 2025)7,625.00 4/2/2025 19866 190522
HYDRAULIC MODELING (FEB 2025)12,775.00 4/2/2025 19866 190509
2063579 1,025.00 ENGINEERING DESIGN (FEB 2025)1,025.00 4/9/2025 19866 190510
2063510 80.25 UB REFUND 0000009333 80.25 3/26/2025 99999 ubRef032725001
Total 2,053,518.39 2,044,886.86
WATER CONSERVATION GARDEN
UTILITY SERVICES ASSOC LLC
VCH NO 1 LP
VOLT WORKFORCE SOLUTIONS 2063542 2,982.00
2063578 2,370.69
YELLOW FREIGHT /YRC ENT MS#5
WE GOT YA PEST CONTROL INC
WOOD RODGERS INC 2063543 22,400.00
4/24/2025 7:17:27 PM Page 8
3/5/2025
3/5/2025
3/5/2025
Check Dates: 3/20/2025 thru 4/23/2025
Invoice Date
1/31/2025
4/1/2025
4/10/2025
3/31/2025
3/24/2025
4/2/2025
4/2/2025
3/31/2025
3/12/2025
3/31/2025
3/26/2025
4/18/2025
4/22/2025
3/18/2025
4/21/2025
3/17/2025
4/16/2025
4/8/2025
2/28/2025
3/1/2025
3/10/2025
4/2/2025
4/8/2025
4/8/2025
4/8/2025
3/26/2025
4/24/2025 7:17:27 PM Page 9
Check Dates: 3/20/2025 thru 4/23/2025
1/17/2025
3/20/2025
3/14/2025
3/14/2025
4/22/2025
3/31/2025
3/10/2025
2/25/2025
3/31/2025
3/31/2025
3/31/2025
3/17/2025
4/1/2025
4/1/2025
4/1/2025
4/1/2025
4/1/2025
4/1/2025
4/1/2025
4/1/2025
4/22/2025
3/20/2025
1/31/2025
2/14/2025
2/14/2025
2/28/2025
3/27/2025
3/27/2025
3/27/2025
4/24/2025 7:17:27 PM Page 10
Check Dates: 3/20/2025 thru 4/23/2025
1/31/2025
2/28/2025
3/21/2025
3/31/2025
2/28/2025
3/31/2025
3/31/2025
4/11/2025
3/28/2025
3/14/2025
3/18/2025
3/20/2025
3/31/2025
3/20/2025
3/31/2025
3/20/2025
3/20/2025
3/17/2025
3/19/2025
3/27/2025
3/24/2025
3/31/2025
4/3/2025
3/24/2025
3/28/2025
3/28/2025
4/8/2025
3/31/2025
4/1/2025
3/31/2025
3/31/2025
4/24/2025 7:17:27 PM Page 11
Check Dates: 3/20/2025 thru 4/23/2025
3/27/2025
4/3/2025
3/27/2025
3/20/2025
3/20/2025
3/27/2025
4/3/2025
4/3/2025
3/20/2025
4/3/2025
3/20/2025
3/28/2025
3/28/2025
4/2/2025
4/9/2025
3/7/2025
3/27/2025
3/12/2025
2/28/2025
3/31/2025
2/28/2025
3/31/2025
3/14/2025
3/20/2025
4/7/2025
3/21/2025
4/1/2025
3/20/2025
3/28/2025
3/28/2025
3/28/2025
4/24/2025 7:17:27 PM Page 12
Check Dates: 3/20/2025 thru 4/23/2025
3/21/2025
3/31/2025
3/26/2025
3/20/2025
4/8/2025
1/25/2025
1/24/2025
1/24/2025
1/31/2025
12/5/2024
3/19/2025
3/31/2025
3/20/2025
4/7/2025
3/31/2025
3/5/2025
3/28/2025
3/20/2025
3/31/2025
3/28/2025
3/20/2025
4/3/2025
4/3/2025
3/20/2025
3/28/2025
3/28/2025
3/31/2025
10/15/2024
3/14/2025
3/5/2025
3/24/2025
4/24/2025 7:17:27 PM Page 13
Check Dates: 3/20/2025 thru 4/23/2025
3/27/2025
4/3/2025
3/24/2025
3/24/2025
3/17/2025
3/25/2025
4/22/2025
3/28/2025
3/28/2025
4/21/2025
4/9/2025
4/18/2025
3/18/2025
3/31/2025
4/2/2025
4/9/2025
4/22/2025
1/24/2025
3/20/2025
3/31/2025
4/8/2025
2/28/2025
3/24/2025
3/19/2025
3/27/2025
3/27/2025
3/26/2025
3/27/2025
4/3/2025
4/7/2025
4/8/2025
4/24/2025 7:17:27 PM Page 14
Check Dates: 3/20/2025 thru 4/23/2025
3/27/2025
3/27/2025
4/2/2025
4/2/2025
4/15/2025
4/8/2025
3/20/2025
3/31/2025
4/8/2025
10/2/2024
4/14/2025
3/1/2025
3/14/2025
3/14/2025
3/21/2025
4/8/2025
4/8/2025
4/15/2025
3/21/2025
3/14/2025
3/21/2025
3/20/2025
3/12/2025
3/19/2025
3/26/2025
3/31/2025
4/1/2025
4/1/2025
12/20/2024
4/1/2025
4/1/2025
4/24/2025 7:17:27 PM Page 15
Check Dates: 3/20/2025 thru 4/23/2025
3/30/2025
3/30/2025
4/13/2025
12/2/2024
4/1/2025
3/28/2025
3/16/2025
3/23/2025
3/23/2025
3/30/2025
3/31/2025
3/20/2025
3/21/2025
2/28/2025
2/28/2025
2/28/2025
2/28/2025
4/24/2025 7:17:27 PM Page 16