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HomeMy WebLinkAbout10-22-25 F&A Committee Packet 1 OTAY WATER DISTRICT FINANCE AND ADMINISTRATION COMMITTEE MEETING and SPECIAL MEETING OF THE BOARD OF DIRECTORS 2554 SWEETWATER SPRINGS BOULEVARD SPRING VALLEY, CALIFORNIA BOARDROOM WEDNESDAY OCTOBER 22, 2025 12:00 P.M. This is a District Committee meeting. This meeting is being posted as a special meeting in order to comply with the Brown Act (Government Code Section §54954.2) in the event that a quorum of the Board is present. Items will be deliberated, however, no formal board actions will be taken at this meeting. The committee makes recommendations to the full board for its consideration and formal action. AGENDA 1. ROLL CALL 2. PUBLIC PARTICIPATION – OPPORTUNITY FOR MEMBERS OF THE PUBLIC TO SPEAK TO THE BOARD ON ANY SUBJECT MATTER WITHIN THE BOARD’S JU- RISDICTION INCLUDING AN ITEM ON TODAY’S AGENDA DISCUSSION ITEMS 3. APPROVE THE AUDITED FINANCIAL STATEMENTS, INCLUDING THE INDE- PENDENT AUDITORS’ UNQUALIFIED OPINION, FOR THE FISCAL YEAR ENDING JUNE 30, 2025 (MARISSA DYCHITAN) [5 MINUTES] 4. ADOPT ORDINANCE NO. 602 TO ADD A FIRE FLOW FEE AND APPROVE THE PROPOSED CHANGES TO VARIOUS FEES AND CHARGES BY AMENDING AP- PENDIX A AND SECTION 38, SERVICES FOR FIRE PROTECTION SYSTEMS, OF THE DISTRICT’S CODE OF ORDINANCES TO BE EFFECTIVE JANUARY 1, 2026 (ANDREA CAREY) [5 MINUTES] 5. UPDATE ON THE CUSTOMER COMMUNICATION PLAN FOR THE UPCOMING DISTRICT-WIDE METER CHANGEOUT PROJECT (ANDREA CAREY) [5 MINUTES] 6. ADJOURNMENT 2 BOARD MEMBERS ATTENDING: Jose Lopez, Chair Delfina Gonzalez All items appearing on this agenda, whether or not expressly listed for action, may be delib- erated and may be subject to action by the Board. The agenda, and any attachments containing written information, are available at the Dis- trict’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 attachments are also available by contacting the District Secretary at (619) 670- 2253. If you have any disability which would require accommodations to enable you to participate in this meeting, please call the District Secretary at 670-2253 at least 24 hours prior to the meeting. Certification of Posting I certify that on October 20, 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 24 hours in advance of the meeting of the Board of Directors (Government Code Section §54954.2). Executed at Spring Valley, California on October 20, 2025. /s/ Tita Ramos-Krogman, District Secretary STAFF REPORT TYPE MEETING: Regular Board MEETING DATE: November 5, 2025 SUBMITTED BY: Marissa Dychitan Senior Accountant PROJECT: DIV. NO. All APPROVED BY: Jon Ravaglioli, Finance Manager Kevin Koeppen, Assistant Chief of Finance Joseph R. Beachem, Chief Financial Officer Jose Martinez, General Manager SUBJECT: Approve the Audited Financial Statements for the Fiscal Year Ended June 30, 2025 GENERAL MANAGER'S RECOMMENDATION: That the Board approve the Audited Financial Statements (Attachment B), including the Independent Auditors' unqualified opinion, for the fiscal year ending June 30, 2025. COMMITTEE ACTION: See Attachment A. PURPOSE: To inform the Board of the significant financial events which occurred during the fiscal year ended June 30, 2025, as reflected in the audited financial statements. ANALYSIS: Davis Farr LLP performed the audit and found that, in all material respects, the financial statements correctly represent the District's AGENDA ITEM 3 2 financial position. They found no material errors in the financial records or statements (Attachment D). Total Assets: Total assets increased by $10.0 million, or 1.60%, during Fiscal Year 2025, to $634.8 million, due to increases in capital assets, prepaid assets, and receivables, partially offset by decreases in cash and cash equivalents and investments. Deferred Outflows & Deferred Inflows: Deferred outflows decreased by $9.0 million, or 35.41%, in Fiscal Year 2025 due to decreases in pension and OPEB actuarial costs. Deferred inflows increased by $5.4 million, or 12.27%, due to increases in deferred investment income for the OPEB and pension plans and deferred inflows from leases. Total Liabilities & Net Positions: Total liabilities decreased by $15.5 million, or 7.67%, from the previous fiscal year to $186.2 million. The decrease is attributable to the decreases in net pension and OPEB liabilities and debt service payments. The net position increased by $11.0 million, or 2.72%, to $415.3 million as of June 30, 2025. Capital Contributions: Capital contributions for Fiscal Year 2025 totaled $14.2 million. Capital contributions consist of developers contributing $4.0 million in capacity fees and $9.7 million in contributed fixed assets. Ratepayers also paid $0.5 million in availability fees, which are collected on the tax roll and considered a part of capital contributions. Results of Operations: Operating revenues increased by $16.3 million, or 14.49%, due to increases in water sales volume due to dryer weather and water rates. The cost of water sales increased by $11.8 million, or 15.15%, due to increased unit purchase costs and volumes purchased. 3 Non-Operating Revenues & Expenses: Non-operating revenues increased by $0.2 million, or 1.04%, for Fiscal Year 2025 due primarily to an increase in tax revenues partially offset by the decrease in investment income. Non-operating expenses decreased by $27.7 million, or 85.29%, in Fiscal Year 2025 due primarily to the decrease in miscellaneous expenses. Conclusion: In summary, the overall audit process was successful, and the auditors found no material errors or misstatements in the District's financial statements. Additional Audit Correspondence: As a part of completing the audit engagement, Davis Farr LLP also provided the following letters summarizing their observations and conclusions concerning the District's overall financial processes: •Management Letter: The auditors did not identify any internalcontrol deficiencies that they considered material weaknesses. (Attachment C). •Audit Committee Letter: This letter describes the overallaspects of the audit, including audit principles, performance,dealings with management, and significant findings or issues. There were no disagreements with management concerning financial accounting, reporting, or auditing matters, andthere were no significant difficulties in dealing withmanagement in performing the audit. (Attachment D). •Report on Applying Agreed-Upon Procedures: A review of the District's investment portfolio at year-end and a sample ofspecific investment transactions completed throughout thefiscal year were performed. There were no exceptions to compliance from the District's Investment Policy. (AttachmentE). FISCAL IMPACT: None. 4 STRATEGIC GOAL: The District ensures its continued 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: A) Committee ActionB) Audited Annual Financial Statements C) Management LetterD) Audit Committee Letter E) Report on Applying Agreed-Upon Procedures ATTACHMENT A SUBJECT/PROJECT: Approve the Audited Financial Statements for the Fiscal Year Ended June 30, 2025 COMMITTEE ACTION: NOTE: OTAY WATER DISTRICT FINANCIAL STATEMENTS WITH REPORT ON AUDIT BY INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS YEAR ENDED JUNE 30, 2025 Attachment B Table of Contents Year Ended June 30, 2025 Page Number Independent Auditor’s Report 1 Management’s Discussion & Analysis 4 Basic Financial Statements: Statement of Net Position 14 Statement of Revenues, Expenses, and Changes in Net Position 16 Statement of Cash Flows 17 Notes to Financial Statements 19 Required Supplementary Information: Schedule of Changes in the Net OPEB Liability and Related Ratios 65 Schedule of Contributions 66 Schedule of Changes in the Net Pension Liability and Related Ratios 67 Schedule of Plan Contributions 68 Independent Auditor’s Report Board of Directors Otay Water District Spring Valley, California Report on the Audit of the Financial Statements Opinion We have audited the financial statements of the Otay Water District (District), as of and for the year ended June 30, 2025 and the related notes to the financial statements, which collectively comprise the District’s basic financial statements as listed in the table of contents. In our opinion, the accompanying financial statements present fairly, in all material respects, the respective financial position of the District as of June 30, 2025, and the respective changes in financial position and cash flows thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the District and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Emphasis of Matter As described further in note 1 to the financial statements, during the year ended June 30, 2025, the District implemented Governmental Accounting Standards Board (GASB) Statement No. 101: Compensated Absences. Our opinion is not modified with respect to this matter. Responsibilities of Management for the Financial Statements The District’s management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for one year after the date that the financial statements are issued. Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS, we: Exercise professional judgment and maintain professional skepticism throughout the audit. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, no such opinion is expressed. Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the District’s ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit. Report on Summarized Comparative Information We have previously audited the District’s 2024 financial statements, and we expressed an unmodified audit opinion on those audited financial statements in our report dated October 25, 2024. In our opinion, the summarized comparative information presented herein as of and for the year ended June 30, 2024, is consistent, in all material respects, with the audited financial statements from which it has been derived. Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Management’s Discussion and Analysis, Schedule of Changes in the Net OPEB Liability and Related Ratios, Schedule of Contributions, Schedule of Changes in the Net Pension Liability and Related Ratios, and Schedule of Plan Contributions, be presented to supplement the basic financial statements.Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated October 29, 2025 on our consideration of the District’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of internal control over financial reporting or on compliance.That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control over financial reporting and compliance. Irvine, California October 29, 2025 This page intentionally left blank Management’s Discussion and Analysis 3 As the management of the Otay Water District (the "District"), we offer readers of the District's financial statements this narrative overview and an analysis of the District's financial performance during the fiscal year ending June 30, 2025.Please read it in conjunction with the District's financial statements that follow Management's Discussion and Analysis.All amounts, unless otherwise indicated, are expressed in millions of dollars. Overview of the Financial Statements This discussion and analysis is intended to serve as an introduction to the District's basic financial statements, which are comprised of the following: 1) Statement of Net Position, 2) Statement of Revenues, Expenses,and Changes in Net Position, 3) Statement of Cash Flows, and 4) Notes to the Financial Statements.This report also contains supplementary information in addition to the basic financial statements. The Statement of Net Position presents information on the District's assets,deferred outflows of resources, liabilities,and deferred inflows of resources, with the difference reported as Total Net Position.Over time, increases or decreases in net position may serve as a valuable indicator of whether the District's financial position is improving or weakening. The Statement of Revenues, Expenses,and Changes in Net Position presents information showing how the District's net position changed during the most recent fiscal year.All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows.Thus, revenues and expenses are reported in this statement for some items that will only result in cash flows in future fiscal periods (e.g., uncollected taxes and earned but unused vacation leave). The Statement of Cash Flows presents information on cash receipts and payments for the fiscal year.The Notes to the Financial Statements provide additional information essential to a complete understanding of the data supplied in the specific financial statements listed above. Financial Highlights The assets and deferred outflows of resources of the District exceeded its liabilities and deferred inflows of resources at the close of the most recent fiscal year by $415.3 million (net position). Of this amount, $56.5 million (unrestricted net position)may be used to meet the District’s ongoing obligations to residents and creditors. Total assets increased by $10.0 million,or 1.6%,during Fiscal Year 2025 to $634.8 million, due to increases in capital and prepaid assets and receivables,which were partially offset by decreases in cash and cash equivalents and investments. Management’s Discussion and Analysis 4 In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning the District's progress in funding its obligation to provide retirement benefits to its employees. Financial Analysis: As noted, net position may serve,over time,as a valuable indicator of an entity's financial position.In the case of the District, assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $415.3 million at the close of Fiscal Year 2025. The most significant portion of the District's net position, $351.8 million (84.7%), reflects its investment in capital assets,less any remaining outstanding debt used to acquire those capital assets.The District uses these capital assets to provide services to customers; consequently, these assets are not available for future spending.Although the District's investment in its capital assets is reported effectively as a resource, it should be noted that the resources needed to repay the debt must be provided from other sources since the capital assets themselves cannot be used to liquidate these liabilities. Management’s Discussion and Analysis 5 Statement of Net Position (In Millions of Dollars) 2025 2024 Assets Current and Other Assets $ 187.5 $ 187.9 Capital Assets 447.3 436.9 Total Assets 634.8 624.8 Deferred Outflows of Resources Deferred Actuarial Pension Costs 7.2 13.3 Deferred Actuarial OPEB Costs 9.3 12.2 Total Deferred Outflows of Resources 16.5 25.5 Liabilities Current Liabilities 37.8 36.4 Long-Term Debt Outstanding 89.6 95.0 Net Pension Liability 25.4 28.6 Net OPEB Liability 2.3 11.2 Other Liabilities 31.1 30.5 Total Liabilities 186.2 201.7 Deferred Inflows of Resources Deferred Inflows from Leases 46.4 43.4 Deferred Inflows Pension Costs 0.1 0.0 Deferred Actuarial OPEB Costs 3.2 0.9 Total Deferred Inflows of Resources 49.7 44.3 Net Position Net Investment in Capital Assets 351.8 336.1 Restricted for Debt Service 3.8 3.6 Restricted for Capital Assets 3.2 3.1 Unrestricted 56.5 61.5 Total Net Position $ 415.3 $ 404.3 The District's operations and population are growing.Much of this expansion has occurred in the residential sector, particularly in multi-family dwellings.The District’s commercial base is also expanding, largely due to commercial development in the Otay Mesa area of the District’s service area, which borders Mexico. By 2055, the District's service area population is expected to increase by 12% to 271,500 residents. Management’s Discussion and Analysis 6 The District has created several future planning documents to ensure a reliable water supply and sewer system in the future, including the maintenance of current infrastructure. In FY 2025,the District's Capital Assets increased by $28.0 million before accumulated depreciation (see Note 4 in the Notes to Financial Statements).The District’s long-term debt (excluding current maturities) decreased by $5.4 million due to the annual debt service payments (see Note 5 in the Notes to Financial Statements). Total liabilities decreased by $15.5 million in FY 2025,primarily due to decreases in Net Pension and OPEB liabilities, and long-term debt. In FY 2025, deferred outflows of resources decreased by $9.0 million due to decreases in the actuarial pension and OPEB costs. Deferred inflows of resources increased by $5.4 million in FY 2025 due to increases in the actuarial OPEB and pension costs and deferred inflows from leases. At the end of FY 2025,the District reports positive balances in all net position categories. This situation also applied to the prior fiscal year. Management’s Discussion and Analysis 7 Statement of Revenues, Expenses, and Changes in Net Position (In Millions of Dollars) 2025 2024 Water Sales $ 121.5 $105.7 Wastewater Revenue 3.5 3.5 Connection and Other Fees 3.8 3.3 Non-operating Revenues 17.1 16.9 Total Revenues 145.9 129.4 Depreciation Expense 18.4 18.3 Other Operating Expenses 125.6 113.0 Non-operating Expenses 4.9 32.4 Total Expenses 148.9 163.7 Income (Loss) Before Capital Contributions (3.0)(34.3) Capital Contributions 14.2 7.5 Change in Net Position 11.2 (26.8) Beginning Net Position, As Previously Stated 404.3 431.1 Prior Period Adjustment (0.2)0.0 Beginning Net Position, As Restated 404.1 404.3 Ending Net Position $ 415.3 $ 404.3 Water Sales increased by $15.8 million in FY 2025 due to increase in sales volume brought about by dryer weather and the increase in water rates necessary to pass through increasing costs placed on the District. Other Operating Expenses increased by $12.6 million in FY 2025, predominantly due to increase in the cost of water caused by increased in water purchases and pass-through charges from the District’s water suppliers.Non-operating expenses decreased by $27.5 million due to the decrease in miscellaneous expenses. Specific planning and environmental study costs associated with capital projects do not qualify as capital miscellaneous (non-operating) expenses. For FY 2025,those expenses were $0.4 million. Management’s Discussion and Analysis 8 Connection and Other Fees increased by $0.5 million in FY 2025 due to an increase in expansion-related operating costs, which are funded by capacity fees. Capital Contributions increased by $6.7 million in FY2025 due to more developer-built facilities. Non-operating Revenues Non-operating Revenues by Major Source (In Millions of Dollars) 2025 2024 Taxes and Assessments $6.2 $5.8 Rents and Leases 2.1 2.1 Other Non-operating Revenue 8.8 9.0 Total Non-operating Revenues $17.1 $16.9 The District's total non-operating revenues increased by $0.2 million in FY 2025 due primarily to the increase in taxes and assessments partially offset by the decrease in investment earnings. Capital Assets and Debt Administration The District's capital assets (net of accumulated depreciation) as of June 30, 2025, totaled $447.3 million. Included in this amount is land, which is a non-depreciable asset.The District's net capital assets increased by 2.4% in FY 2025. Management’s Discussion and Analysis 9 Capital Assets (In Millions of Dollars) As indicated by the figures in the table above, most capital assets added during the current fiscal year are related to the water systems.Additionally,most of the construction-in-progress cost is associated with water systems.Additional information on the District's capital assets can be found in Note 4 of the Notes to Financial Statements. On June 30, 2025 the District had $89.6 million in outstanding debt (net of $5.4 million of maturities occurring in FY 2026), which consisted of the following: Lease Payable $ 0.6 Subscription-Based IT Payable 4.6 Revenue Bonds 84.4 Total Long-Term Debt $ 89.6 2025 2024 Land $14.5 $14.5 Construction in Progress 20.8 10.7 Potable Water System 560.5 547.4 Recycled Water System 123.7 119.2 Wastewater System 59.3 59.3 Field Equipment 5.6 6.6 Buildings 19.3 19.3 Transportation Equipment 6.1 5.0 Communication Equipment 2.5 2.5 Office Equipment 8.0 8.0 Right to Use Assets –Leases 0.7 0.7 Right to Use Assets -SBITA 5.8 5.6 Total Capital Assets 826.8 798.8 Less Accumulated Depreciation (379.5)(361.9) Net Capital Assets $447.3 $436.9 Management’s Discussion and Analysis 10 Additional information on the District's long-term debt can be found in Note 5 of the Notes to Financial Statements. Fiscal Year 2025-2026 Budget Economic Factors The San Diego region imports 67.0% of its potable supply;therefore, factors such as local rainfall and weather conditions elsewhere in the western portion of the nation can affect the region. San Diego received below-average rainfall of 4.68 inches in FY 2025.The 4.68 inches in 2025 is indicative of drought conditions. 10-year average of 10.22 inches for San Diego rainfall reflects the long-term drought conditions for our area.San Diego's rainfall average over 20 years is 9.0 inches,the 30-year average is 9.1 inches,and the 40-year average is 9.8 inches. Climate change poses a significant challenge for the District, with projections indicating longer droughts and more intense, though less frequent, rainfall. These extended droughts necessitate increased conservation efforts, leading to permanent reductions in water consumption. Consequently, water sales volumes are affected by both weather conditions and ongoing conservation measures. Although the impact is less pronounced than the measures implemented between 2008 and 2016, there has been a lasting change in usage patterns. For the fiscal year 2026, budgeted water sales volumes, based on actual data from 2021 to 2025, reflect a 0.5% decrease compared to the previous year's budgeted volume. The District continues to respond to the challenges presented by growth, State mandates,and drought,by creating new opportunities and new organizational efficiencies.Utilizing and refining its Strategic Business Plan has captured the Board of Directors'vision and united its staff in a joint mission.The District has achieved several significant accomplishments due to its successful adherence to its Strategic Business Plan. The District is poised to continue successfully providing an affordable, safe, and reliable water supply for the people of its service area, while also passing through the benefits of greater efficiencies and economies of scale. The District is currently at about 87.0%of its projected ultimate population, serving approximately 242,155 people. Long-term, this percentage should continue to increase as the District's service area develops and grows. By 2055,the District is projected to serve approximately 271,500 people.Currently, the District services the needs of this growing population by purchasing water from the San Diego County Water Authority (CWA), which in turn purchases its water from the Metropolitan Water District (MWD) and the Imperial Irrigation District (IID). Otay takes delivery of water through several connections of large-diameter pipelines owned and operated by CWA. The District receives treated water from CWA directly and from the Helix Water District via a CWA Management’s Discussion and Analysis 11 contract. Additionally, the District has an emergency agreement with the City of San Diego to purchase water in the case of a shutdown of the primary treated water source. The City of San Diego also has a contract with the District to provide recycled water for landscape and irrigation usage. Through innovative agreements like these, both parties can benefit by using another agency's excess capacity and diversifying local supply, thereby increasing reliability. Financial The District is budgeted to deliver approximately 27,141.8 acre-feet of potable water to 52,070 potable customer accounts during FY 2026.The FY 2026 budget was prepared with the continuing challenges of potable water wholesale supplier rate increases, inflation, Proposition 218-related litigation defense, risk management challenges, additional CIP projects, and legislative initiatives. Additional challenges are the City of San Diego’s Pure Water program costs, and the County of San Diego’s rehabilitation of shared facilities. Inflation and increased regulation continue to impact the District’s financial position. The District’s wholesale water supplier has approved of a 10.4% overall rate increase in FY 2026 due to the high cost of supply programs, higher energy costs, and increasing operating costs. The FY 2026 material and administrative expenses are budgeted to increase by $2.2 million, while the CIP projects incorporate a 4.0% annual inflation rate from FY 2027 to FY 2031.SDG&E rate increases are expected to increase energy costs by 7.0%. Newly enacted regulatory requirements governing cross-connection are also putting pressure on the District’s operational costs, which include adding two new full-time equivalents to the staff in FY 2026. The District partially mitigates inflationary impacts through increasing returns on investments and long- term contracts with pricing structures that are fixed for the duration of the contract or include pricing structures whereby annual price increases are for fixed dollar amounts that are less than CPI levels. The District is addressing these challenges through careful financial planning, strategic prioritization of capital projects, and ongoing efforts to enhance efficiency and regulatory compliance, ensuring reliable service and long-term infrastructure sustainability. District staff projects that the District will sell another 496 water meters over the next six years,translating to 2,396 equivalent dwelling units (EDUs).This growth is estimated to increase sales volumes by an average of less than 1.0% per year over the next five years.While all these factors impact on the region's water usage, people's water needs remain an underlying constant. Certain claims, suits,and complaints arising in the ordinary course of operation have been filed or are pending against the District.There is one case that could potentially have a significant effect on the Management’s Discussion and Analysis 12 District’s financial position.In November 2015, a District ratepayer filed a class-action lawsuit against the District (Coziahr v. Otay Water District, Superior Court of the State of California, County of San Diego), contending that the District’s tiered residential water rates from mid-2014 through 2022 violated Article XIIID of the California Constitution (“Proposition 218”). On March 4, 2021, the court issued a decision in favor of the plaintiffs, the District appealed the trial court’s decision to the Court of Appeal, and in July of 2024, the Court of Appeal issued its decision upholding much of the trial court’s decision, but remanding the issue of the allocation of refunds back to the trial court for a new trial. The matter has been remanded to the trial court for further proceedings as to the allocation of any refunds and for an award of attorneys’fees. See footnote 10 for additional details. Management is unaware of any other conditions that are likely to have a significant impact on the District's current financial position, net position,or operating results. Contacting the District's Financial Management This financial report provides a general overview of the Otay Water District's finances for the Board of Directors, customers, creditors, and other interested parties.Questions concerning any information provided in the report or requests for additional information should be addressed to the District's Finance Department, 2554 Sweetwater Springs Blvd., Spring Valley, CA 91978-2004. STATEMENT OF NET POSITION June 30, 2025 (with comparative totals as of June 30, 2024) 2025 2024 ASSETS Current Assets: Cash and Cash Equivalents (Notes 1 and 2)70,242,774$ 77,264,706$ Restricted Cash and Cash Equivalents (Notes 1 and 2)6,964,548 3,132,285 Investments (Notes 1 and 2)26,949,645 35,691,622 Restricted Investments (Notes 1 and 2)- 3,587,676 Accounts Receivable, Net 18,918,678 16,570,788 Accrued Interest Receivable 871,220 1,126,759 Taxes and Availability Charges Receivable, Net 331,528 287,785 Restricted Taxes and Availability Charges Receivable, Net - 4,884 Lease Receivable (Note 12)1,099,360 1,041,530 Inventories 1,956,892 2,073,038 Prepaid Items and Other Receivables 10,892,943 1,885,417 Total Current Assets 138,227,588 142,666,490 Non-current Assets: Capital Assets (Note 4): Land 14,479,573 14,479,573 Construction in Progress 20,767,290 10,712,815 Capital Assets, Net of Depreciation 412,021,645 411,694,772 Lease Receivable (Note 12)49,270,573 45,228,436 Total Non-current Assets 496,539,081 482,115,596 Total Assets 634,766,669 624,782,086 DEFERRED OUTFLOWS OF RESOURCES Deferred Actuarial Pension Costs (Note 7)7,180,263 13,279,616 Deferred Actuarial OPEB Costs (Note 8)9,280,373 12,206,112 Total Deferred Outflows of Resources 16,460,636 25,485,728 Continued The accompanying notes are an integral part of this statement. STATEMENT OF NET POSITION Continued June 30, 2025 (with comparative totals as of June 30, 2024) 2025 2024 LIABILITIES Current Liabilities: Accounts Payable 17,517,895$ 16,842,486$ Accrued Payroll Liabilities 1,353,567 1,095,145 Other Accrued Liabilities 7,048,375 6,247,354 Customer and Developer Deposits 5,087,873 5,490,122 Accrued Interest 1,415,093 1,491,005 Current Maturities of Long-term Debt (Note 5)5,417,783 5,224,677 Total Current Liabilities 37,840,586 36,390,789 Non-current Liabilities: Long-term Debt (Note 5): Revenue Bonds 84,383,503 89,430,762 Lease Payable 651,289 671,758 Subscription-Based IT Payable 4,564,337 4,914,393 Net Pension Liability (Note 7)25,428,994 28,553,945 Net OPEB Liability (Note 8)2,324,974 11,202,346 Other Non-current Liabilities (Note 9)31,049,281 30,548,589 Total Non-current Liabilities 148,402,378 165,321,793 Total Liabilities 186,242,964 201,712,582 DEFERRED INFLOWS OF RESOURCES Deferred Inflows from Leases (Note 12)46,429,877 43,410,817 Deferred Actuarial Pension Costs (Note 7)37,848 - Deferred Actuarial OPEB Costs (Note 8)3,248,114 870,274 Total Deferred Inflows of Resources 49,715,839 44,281,091 NET POSITION Net Investment in Capital Assets 351,783,163 336,050,508 Restricted for Debt Service 3,826,616 3,636,078 Restricted for Capital Assets 3,137,932 3,083,883 Unrestricted (Note 6)56,520,791 61,503,672 Total Net Position 415,268,502$ 404,274,141$ The accompanying notes are an integral part of this statement. STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION Year Ended June 30, 2025 (with comparative totals for the year ended June 30, 2024) 2025 2024 OPERATING REVENUES Water Sales 121,483,491$ 105,736,843$ Wastewater Revenue 3,500,945 3,494,312 Connection and Other Fees 3,802,203 3,253,978 Total Operating Revenues 128,786,639 112,485,133 OPERATING EXPENSES Cost of Water Sales 89,595,836 77,807,009 Wastewater 2,578,457 2,400,881 Administrative and General 33,449,222 32,717,662 Depreciation 18,417,174 18,276,492 Total Operating Expenses 144,040,689 131,202,044 Operating Income (Loss)(15,254,050)(18,716,911) NON-OPERATING REVENUES (EXPENSES) Investment Earnings 5,998,937 6,393,523 Taxes and Assessments 6,171,087 5,777,012 Availability Charges 717,191 741,705 Gain (Loss) on Disposal of Capital Assets (228,041)(725,060) Rents and Leases 2,083,057 2,083,669 Miscellaneous Revenues 2,097,575 1,896,115 Donations (97,105)(103,200) Interest Expense (4,054,293)(4,137,615) Miscellaneous Expenses (394,535)(27,478,412) Total Non-operating Revenues (Expenses)12,293,873 (15,552,263) Income (Loss) Before Capital Contributions (2,960,177)(34,269,174) CAPITAL CONTRIBUTIONS: Capacity and Betterment Fees 4,489,090 7,221,234 Developer Contributions 9,698,540 247,052 Total Capital Contributions 14,187,630 7,468,286 Change in Net Position 11,227,453 (26,800,888) Total Net Position, Beginning, as Previously Reported 404,274,141 431,075,029 Restatement (Note 13)(233,092)- Total Net Position, Beginning, as Restated 404,041,049 431,075,029 Total Net Position, Ending 415,268,502$ 404,274,141$ The accompanying notes are an integral part of this statement. STATEMENT OF CASH FLOWS Year Ended June 30, 2025 (with comparative totals for the year ended June 30, 2024) 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Receipts from Customers 122,234,297$ 106,875,559$ Receipts from Connections and Other Fees 3,802,203 3,253,978 Receipts from Property Rents and Leases - 52,127 Other Receipts 1,309,747 1,128,578 Payments to Suppliers (102,806,270) (53,512,056) Payments to Employees (30,267,716) (25,474,256) Other Payments (491,640) (27,581,612) Net Cash Provided By (Used For) Operating Activities (6,219,379) 4,742,318 CASH FLOWS FROM NONCAPITAL AND RELATED FINANCING ACTIVITIES Receipts from Taxes and Assessments 6,848,824 6,530,074 Net Cash Provided By (Used For) Noncapital and Related Financing Activities 6,848,824 6,530,074 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Proceeds from Capital Contributions 4,489,090 7,221,234 Proceeds from Sale of Capital Assets 88,011 - Proceeds from Property Rents and Leases 1,682,954 1,630,303 Proceeds from Debt Related Taxes and Assessments 595 7,250 Principal Payments on Long-Term Debt (4,918,819) (5,452,872) Interest Payments and Fees (3,648,236) (3,814,672) Acquisition and Construction of Capital Assets (19,416,034) (6,690,118) Net Cash Provided By (Used For) Capital and Related Financing Activities (21,722,439) (7,098,875) CASH FLOWS FROM INVESTING ACTIVITIES Interest Received on Investments 4,870,493 4,146,000 Proceeds from Sale and Maturities of Investments 36,045,141 40,339,069 Purchase of Investments (23,012,309) (15,093,366) Net Cash Provided By (Used For) Investing Activities 17,903,325 29,391,703 Net Increase (Decrease) in Cash and Cash Equivalents (3,189,669) 33,565,220 Cash and Cash Equivalents - Beginning 80,396,991 46,831,771 Cash and Cash Equivalents - Ending 77,207,322$ 80,396,991$ Continued The accompanying notes are an integral part of this statement. STATEMENT OF CASH FLOWS Continued Year Ended June 30, 2025 (with comparative totals for the year ended June 30, 2024) 2025 2024 Reconciliation of Operating Income (Loss) to Net Cash Flows Provided By (Used For) Operating Activities: Operating Income (Loss)(15,254,050)$ (18,716,911)$ Adjustments to Reconcile Operating Income to Net Cash Provided By (Used For) Operating Activities: Depreciation 18,417,174 18,276,492 Receipts from Property Rents and Leases - 52,127 Miscellaneous Revenues 1,309,747 1,128,578 Miscellaneous Expenses and Donations (491,640) (27,581,612) (Increase) Decrease in Accounts Receivable (2,347,890) (2,257,124) (Increase) Decrease in Inventory 116,146 (19,645) (Increase) Decrease in Prepaid Items and Other Receivables (9,007,526) (384,165) (Increase) Decrease in Deferred Actuarial Pension Costs 6,099,353 2,671,458 (Increase) Decrease in Deferred Actuarial OPEB Costs 2,925,739 (5,526,881) Increase (Decrease) in Accounts Payable 675,409 1,857,268 Increase (Decrease) in Accrued Payroll and Related Expenses 25,330 (7,063) Increase (Decrease) in Other Accrued Liabilities 801,021 518,076 Increase (Decrease) in Customer and Developer Deposits (402,249) (98,472) Increase (Decrease) in Other Non-current Liabilities 500,692 26,780,121 Increase (Decrease) in Net OPEB Liability (8,877,372) 6,151,085 Increase (Decrease) in Net Pension Liability (3,124,951) 2,602,850 Increase (Decrease) in Deferred Actuarial Pension Costs 37,848 - Increase (Decrease) in Deferred Actuarial OPEB Costs 2,377,840 (703,864) Net Cash Provided By (Used For) Operating Activities (6,219,379)$ 4,742,318$ Schedule of Cash and Cash Equivalents: Current Assets: Cash and Cash Equivalents 70,242,774$ 77,264,706$ Restricted Cash and Cash Equivalents 6,964,548 3,132,285 Total Cash and Cash Equivalents 77,207,322$ 80,396,991$ Supplemental Disclosures Non-Cash Investing and Financing Activities Consisted of the Following: Contributed Capital for Water and Sewer System 9,698,540$ 247,052$ Change in Fair Value of Investments (703,179) (1,299,473) Amortization Related to Long-term Debt 305,859 377,676 The accompanying notes are an integral part of this statement. Notes To Financial Statements Year Ended June 30, 2025 1)REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A)Reporting Entity The reporting entity Otay Water District (the “District”) includes the accounts of the District and the Otay Water District Financing Authority (the “Financing Authority”). The District is a public entity established in 1956 pursuant to the Municipal Water District Law of 1911 (Section 711 et. Seq. of the California Water Code) for the purpose of providing water and wastewater services to the properties in the District.The District is governed by a Board of Directors consisting of five directors elected by geographical divisions based on District population for a four-year alternating term. The District formed the Financing Authority on March 3, 2010 under the Joint Exercise of Powers Act, constituting Articles 1 through 4 (commencing with Section 6500) of Chapter 5, Division 7, Title 1 of the California Government Code. The Financing Authority was formed to assist the District in the financing of public capital improvements. The financial statements present the District and its component unit. The District is the primary government unit.Component units are those entities which are financially accountable to the primary government, either because the District appoints a voting majority of the component unit’s board, or because the component units will provide a financial benefit or impose a financial burden on the District. The District has accounted for the Financing Authority as a “blended” component unit. Despite being legally separate, the Financing Authority is so intertwined with the District that it is in substance, part of the District’s operations. Accordingly, the balances and transactions of this component unit are reported within the funds of the District. Separate financial statements are not issued for the Financing Authority. B)Measurement Focus, Basis of Accounting and Financial Statement Presentation Measurement focus is a term used to describe “which” transactions are recorded within the various financial statements. Basis of accounting refers to “when” transactions are recorded regardless of the measurement focus applied. The accompanying financial statements are reported using the economic resources measurement focus, and the accrual basis of accounting. Under the economic measurement focus all assets and liabilities (whether current or noncurrent) associated with these activities are included in the Statement of Net Position. Notes To Financial Statements Year Ended June 30, 2025 1)REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES –Continued B)Measurement Focus, Basis of Accounting and Financial Statement Presentation -Continued The Statement of Revenues, Expenses and Changes in Net Position present increases (revenues) and decreases (expenses) in total net position. Under the accrual basis of accounting, revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. The District reports its activities as an enterprise fund, which is used to account for operations that are financed and operated in a manner similar to a private business enterprise, where the intent of the District is that the costs (including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges. The basic financial statements of the Otay Water District have been prepared in conformity with accounting principles generally accepted in the United States of America. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for governmental accounting financial reporting purposes. Net position of the District is classified into three components: (1) net investment in capital assets, (2) restricted net position, and (3) unrestricted net position. These classifications are defined as follows: Net Investment in Capital Assets This component of net position consists of capital assets, net of accumulated depreciation and reduced by the outstanding balances of notes or borrowing that are attributable to the acquisition of the assets, construction, or improvement of those assets. If there are significant unspent related debt proceeds at year-end, the portion of the debt attributable to the unspent proceeds are not included in the calculation of the net investment in capital assets. Restricted Net Position This component of net position consists of net position with constrained use through external constraints imposed by creditors (such as through debt covenants), grantors, contributions, or laws or regulations of other governments or constraints imposed by law through constitutional provisions or enabling legislation. Notes To Financial Statements Year Ended June 30, 2025 1)REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued B)Measurement Focus, Basis of Accounting and Financial Statement Presentation -Continued Unrestricted Net Position This component of net position consists of net position that do not meet the definition of “net investment in capital assets” or “restricted net position”. The District distinguishes operating revenues and expenses from those revenues and expenses that are non-operating. Operating revenues are those revenues that are generated by water sales and wastewater services while operating expenses pertain directly to the furnishing of those services. Non- operating revenues and expenses are those revenues and expenses generated that are not associated with the normal business of supplying water and wastewater treatment services. The District recognizes revenues from water sales, wastewater revenues, and meter fees as they are earned. Taxes and assessments are recognized as revenues based upon amounts reported to the District by the County of San Diego, net of allowance for delinquencies of $36,837 at June 30, 2025. Additionally, capacity fee contributions received which are related to specific operating expenses are offset against those expenses and included in Cost of Water Sales in the Statement of Revenues and Expenses and Changes in Net Position. Sometimes the District will fund outlays for a particular purpose from both restricted (e.g., restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted -net position and unrestricted -net position, a flow assumption must be made about the order in which the resources are considered to be applied.It is the District’s practice to consider restricted -net position to have been depleted before unrestricted -net position is applied, however it is at the Board’s discretion. Notes To Financial Statements Year Ended June 30, 2025 1)REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued C)Implementation of New and Pending Accounting Pronouncements During the year ended June 30, 2025, the District adopted new accounting guidance by implementing the provisions of Governmental Accounting Standards Board (GASB) Statement No. 101, Compensated Absences, which seeks to better meet the information needs of financial statement users by updating the recognition and measurement guidance for compensated absences. See Note 13. GASB has issued the following statements which may impact the District’s financial reporting requirements in the future: i.GASB Statement 103 -“Financial Reporting Model Improvements”, effective for reporting periods beginning after June 15, 2025. ii.GASB Statement 104 –“Disclosure of Certain Capital Assets”, effective for reporting periods beginning after June 15, 2025. D)Deferred Outflows/Deferred Inflows In addition to assets, the Statement of Net Position will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net assets that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. The District has two items that qualify for reporting in this category: deferred actuarial pension costs and deferred actuarial OPEB costs. These are items that are deferred and recognized as an outflow of resources in the period the amounts become available. In addition to liabilities, the Statement of Net Position will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net assets that applies to a future period(s) and will not be recognized as an inflow of resources (revenue) until that time. The District has three items that qualify for reporting in this category. Accordingly, the items (deferred actuarial pension costs, deferred actuarial OPEB costs and deferred lease revenue)are deferred and recognized as an inflow of resources in the period that the amounts become available. Notes To Financial Statements Year Ended June 30, 2025 1)REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES –Continued E)Statement of Cash Flows For purposes of the Statement of Cash Flows, the District considers all highly liquid investments (including restricted assets) with a maturity period, at purchase, of three months or less to be cash equivalents. F)Investments Investments are stated at their fair value, which represents the quoted or stated market value. Investments that are not traded on a market, such as investments in external pools, are valued based on the stated fair value as presented by the external pool. G)Inventory and Prepaid Items Inventory consists primarily of materials used in the construction and maintenance of the water and wastewater system and is valued at weighted average cost. Both inventory and prepaid items use the consumption method whereby they are reported as an asset and expensed as they are consumed. In Fiscal Year 2025, the District made an advance payment to the San Diego County Water Authority (SDCWA) covering 12 months of fixed charges for the calendar year 2025. The total gross amount of the charges was $18,727,944. In recognition of the early payment, the District received a 4% discount totaling $749,118, resulting in a net payment of $17,978,826. As of June 30, 2025, the remaining balance related to this advance payment was $8,989,409, which is included in prepaid expenses. This balance represents a portion of the prepaid charges applicable to the second half of the calendar year 2025. H)Capital Assets Capital assets are recorded at cost, where historical records are available, and at an estimated historical cost where no historical records exist. Right-to-use assets for leases and subscription-based information technology arrangements are recorded at net present value at the time of inception.Infrastructure assets in excess of $20,000 and other capital assets in excess of $10,000 are capitalized if they have an expected useful life of two years or more. Notes To Financial Statements Year Ended June 30, 2025 1)REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES –Continued H)Capital Assets –Continued The District will also capitalize individual purchases under the capitalization threshold if they are part of a new capital program. The cost of purchased and self-constructed additions to utility plant and major replacements of property are capitalized.Costs include materials, direct labor, transportation, and such indirect items as engineering, supervision, employee fringe benefits and overhead. Repairs, maintenance, and minor replacements of property are charged to expense. Donated assets are capitalized at their acquisition value on the date contributed. Depreciation is calculated using the straight-line method over the following estimated useful lives: Building and Improvements 5-50 Years Water System (Pot & Rec)7-75 Years Field Equipment 3-25 Years Fleet Equipment 3-10 Years Communication Equipment 5-10 Years Office Equipment 3-10 Years Sewer System 7-75 Years Right to Use Asset/SBITA Based on the terms of underlying lease/subscription contracts, whichever is shorter. I)Other Non-Current Liabilities For compensated absences, the District’s policy is to record vested and accumulated vacation and sick leave as an expense and liability as benefits accrue to employees.The current portion is reflected in accrued payroll liabilities and remainder in other non-current liabilities on the Statement of Net Position. The liability is calculated using current pay rates and includes employer-paid fringe benefits. J)Classification of Liabilities Certain current liabilities have been classified as current liabilities payable from restricted assets as they will be funded from restricted assets. Notes To Financial Statements Year Ended June 30, 2025 1)REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued K)Allowance for Doubtful Accounts The District charges doubtful accounts arising from water sales receivable to bad debt expense when it is probable that the accounts will be uncollectible. Uncollectible accounts are determined by the allowance method based upon prior experience and management’s assessment of the collectability of existing specific accounts. The allowance for doubtful accounts was $232,454 for 2025. L)Property Taxes Tax levies are limited to 1% of full market value (at time of purchase) which results in a tax rate of $1.00 per $100 assessed valuation, under the provisions of Proposition 13. Tax rates for voter- approved indebtedness are excluded from this limitation. The County of San Diego (the “County”) bills and collects property taxes on behalf of the District. The County’s tax calendar year is July 1 to June 30. Property taxes attach as a lien on property on January 1. Taxes are levied on July 1 and are payable in two equal installments on November 1 and February 1, and become delinquent after December 10 and April 10, respectively. M)Pensions For purposes of measuring the net pension liability,deferred outflows of resources, and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Plan and additions to/deductions from the Plans’ fiduciary net position have been determined on the same basis.For this purpose, benefit payments (including refunds of employee contributions) are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value. Valuation Date June 30, 2023 Measurement Date June 30, 2024 Measurement Period July 1, 2023 to June 30, 2024 Notes To Financial Statements Year Ended June 30, 2025 1)REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued N)Other Post-Employment Benefits (OPEB) For purposes of measuring the net OPEB liability(asset), deferred outflows/inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the District’s plan (OPEB Plan) and additions to/deductions from the OPEB Plan’s fiduciary net position have been determined on the same basis. For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value. Generally accepted accounting principles require that the reported results must pertain to liability and asset information within certain defined timeframes. For this report, the following timeframes are used: Valuation Date June 30, 2024 Measurement Date June 30, 2024 Measurement Period July 1, 2023 to June 30, 2024 O)Leases The District is a lessor and lessee for leases as detailed in Footnotes 5 and 12. The District recognizes a lease receivable, a deferred inflow of resources, right to use capital assets, and a lease payable in the financial statements. At the commencement of the lease, the District initially measures the lease receivable at the present value of payments expected to be received and paid during the lease term. Subsequently, the lease receivable is reduced by the principal portion of lease payments received and the lease payable is reduced by the principal portion of lease payments made. The deferred inflow of resources is initially measured as the initial amount of the lease receivable, adjusted for lease payments received at or before the lease commencement date.Subsequently, the deferred inflows of resources are recognized as revenue over the life of the lease term. Key estimates and judgments include how the district determines the discount rate it uses to discount the expected lease receipts and payments to present value, lease term and lease receipts. The District used the weighted average cost of capital rate as the discount rate for leases. The lease term includes the non-cancellable period of the lease. The District monitors changes in circumstances that would require a remeasurement of its leases and will remeasure the lease receivable and deferred inflows of resources if certain changes occur that are expected to significantly affect the amount of the lease receivable. Notes To Financial Statements Year Ended June 30, 2025 1)REPORTING ENTITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued P)Subscription Based Information Technology Arrangements (SBITAs) The District is a participant in subscription-based IT arrangements as detailed in Footnote 5.The District recognizes a subscription-based IT payable and the right to use IT assets in the financial statements.At the commencement of the arrangement, the District initially measures the payable at the present value of payments expected to be paid during the arrangement term.Subsequently, the payable is reduced by the principal portion of payments made. The right to use assets are initially measured at the initial amount of the subscription-based IT payable. Subsequently, the right to use assets are amortized over the life of the arrangement term. Q)Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, deferred outflows of resources, liabilities, and deferred inflows of resources, and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. R)Prior Year Comparative Information Selected information regarding the prior year has been included in the accompanying financial statements. This information has been included for comparison purposes only and does not represent a complete presentation in accordance with generally accepted accounting principles. Accordingly, such information should be read in conjunction with the government’s prior year financial statements, from which this selected financial data was derived. In addition, certain minor reclassifications of the prior year data have been made to enhance their comparability to the current year. 2)CASH AND INVESTMENTS The primary goals of the District’s Investment Policy are to assure compliance with all Federal, State, and Local laws governing the investment of funds under the control of the organization, protect the principal of investments entrusted, remain sufficiently liquid to enable the District to meet all operating requirements and generate income at a market rate of return under the parameters of such policies. Notes To Financial Statements Year Ended June 30, 2025 2)CASH AND INVESTMENTS -Continued Cash and Investments are classified in the accompanying financial statements as follows: Cash and Investments consist of the following: Cash and investments are restricted for the cost of the following District projects and debt service: Investments Authorized by the California Government Code and the District’s Investment Policy The table on the following page identifies the investment types that are authorized for the District by the California Government Code (or the District’s Investment Policy, where more restrictive). The table also identifies certain provisions of the California Government Code (or the District’s Investment Policy, where more restrictive) that address interest rate risk, credit risk, and concentration of credit risk. This table does not address investments of debt proceeds held by bond trustees that are governed by the provisions of debt agreements of the District, rather than the general provisions of the California Government Code or the District’s Investment Policy. Statement of Net Position: Cash and Cash Equivalents 70,242,774$ Restricted Cash and Cash Equivalents 6,964,548 Investments 26,949,645 Total Cash and Investments 104,156,967$ Cash on Hand 3,100$ Deposits with Financial Institutions 1,358,505 Investments 102,795,362 Total Cash and Investments 104,156,967$ Cash and Cash Equivalents: New Water Supply 3,137,931$ Debt Service: Water Revenue Bond Series 2010A 1,055,200 Water Revenue Bond Series 2010B 2,771,417 6,964,548$ Notes To Financial Statements Year Ended June 30, 2025 2)CASH AND INVESTMENTS -Continued Maximum Maximum Authorized Maximum Percentage Investment Investment Type Maturity Of Portfolio(1)In One Issuer U.S. Treasury Obligations 5 years 100%100% U.S. Government Sponsored Entities 5 years 100%100% Certificates of Deposit 5 years 15%100% Corporate Medium-Term Notes 5 years 10%2% Commercial Paper 270 days 10%2% Money Market Mutual Funds N/A 10%100% County Pooled Investment Funds N/A 100%N/A Local Agency Investment Fund (LAIF)N/A $75 Million N/A (1)Excluding amounts held by bond trustee that are not subject to California Government Code restrictions. Investments Authorized by Debt Agreements Investments of debt proceeds held by the bond trustee are governed by provisions of the debt agreements, rather than the general provisions of the California Government Code or the District’s Investment Policy. Disclosures Relating to Interest Rate Risk Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally,the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. One of the ways that the District manages its exposure to interest rate risk is by purchasing investments with shorter durations than the maximum allowable under the District’s Investment Policy and by timing cash flows from maturities,so that a portion of the portfolio is maturing or coming close to maturity evenly over time,as necessary,to provide the cash flow and liquidity needed for operations. Information about the sensitivity of the fair values of the District’s investments to market interest rate fluctuations are provided by the following tables that show the distribution of the District’s investments by maturity as of June 30, 2025. Notes To Financial Statements Year Ended June 30, 2025 2)CASH AND INVESTMENTS –Continued Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the minimum rating required by (where applicable) the California Government Code or the District’s Investment Policy, or debt agreements, and the Moody’s ratings as of June 30, 2025. Concentration of Credit Risk The investment policy of the District contains various limitations on the amounts that can be invested in any one type or group of investments and in any issuer, beyond that stipulated by the California Government Code, Sections 53600 through 53692. All the investments for fiscal year 2025 are within the limitations of the District’s investment policy. 12 Months 13 to 36 More than Investment Type Total Or Less Months 36 Months U.S. Government Sponsored Entities $ 24,243,998 12,737,878$ 11,506,120$ -$ U.S. Treasury Obligations 15,467,575 13,475,115 1,992,460 - Local Agency Investment Fund (LAIF) 62,459,916 62,459,916 - - San Diego County Pool 114,000 114,000 - - Money Market Funds 509,873 509,873 - - Total $ 102,795,362 $ 89,296,782 $ 13,498,580 -$ Remaining Maturity (in Months) Legal Minimum Not Investment Type Total Rating AAA Aa1 Rated U.S. Government Sponsored Entities $ 24,243,998 A -$ 24,243,998$ -$ U.S. Treasury Obligations 15,467,575 N/A - 15,467,575 - Local Agency Investment Fund (LAIF) 62,459,916 N/A - - 62,459,916 San Diego County Pool 114,000 N/A - - 114,000 Money Market Funds 509,873 N/A 509,873 - - Total $ 102,795,362 $ 509,873 $ 39,711,573 $ 62,573,916 Rating as of Year End Notes To Financial Statements Year Ended June 30, 2025 2)CASH AND INVESTMENTS –Continued The investments listed below disclose the concentration of risk within the District’s investment portfolio. Investments in any one issuer (other than U.S. Treasury securities, mutual funds, and external investment pools) that represent 5% or more of total District investments as of June 30, 2025: Custodial Credit Risk Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, the District will not be able to recover its deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty (e.g., broker-dealer) to a transaction, the District will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The California Government Code and the District’s Investment Policy do not contain legal or policy requirements that would limit the exposure to custodial credit risk for deposits or investments, other than the following provision for deposits: The California Government Code requires that a financial institution secure deposits made by state or local government units by pledging securities in an undivided collateral pool held by a depository regulated under state law (unless so waived by the governmental unit). The fair value of the pledged securities in the collateral pool must equal at least 110% of the total amount deposited by the District. California law also allows financial institutions to secure deposits by pledging first trust deed mortgage notes having a value of 150% of the secured public deposits.As of June 30, 2025, $2,649,374 of the District’s deposits with financial institutions in excess of federal depository insurance limits, were held in collateralized accounts. Local Agency Investment Fund (LAIF) The District is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. Reported Issuer Investment Type Amount Federal Home Loan Bank U.S. Government Sponsored Entities 8,484,600$ Federal Farm Credit Bank U.S. Government Sponsored Entities 10,024,380 Notes To Financial Statements Year Ended June 30, 2025 2)CASH AND INVESTMENTS –Continued The fair value of the District’s investment in this pool is reported in the accompanying financial statements at amounts based upon District’s pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis. The LAIF is a special fund of the California State Treasury through which local governments may pool investments. The District may invest up to $75,000,000 in the fund. Investments in LAIF are highly liquid, as deposits can be converted to cash within twenty-four hours without loss of interest. Investments with LAIF are secured by the full faith and credit of the State of California. The annualized yield of LAIF for the quarter ended June 30, 2025 was 4.27%. The estimated amortized cost and fair value of the LAIF pool at June 30, 2025 was $62,459,916. San Diego County Pooled Fund The San Diego County Pooled Investment Fund (SDCPIF) is a pooled investment fund program governed by the County of San Diego Board of Supervisors and administered by the County of San Diego Treasurer and Tax Collector. Investments in SDCPIF are highly liquid as deposits and withdrawals can be made at any time without penalty, determined on an amortized cash basis, the same as the fair value of the District’s position in the pool.The estimated amortized cost and fair value of the County pool at June 30, 2025 was $114,000. The County of San Diego’s bank deposits are either federally insured or collateralized in accordance with the California Government Code. Pool detail is included in the County of San Diego Annual Comprehensive Financial Report (“Annual Report”). Copies of the Annual Report may be obtained from the County of San Diego Auditor-Controller’s Office –1600 Pacific Coast Highway, San Diego California 92101. Notes To Financial Statements Year Ended June 30, 2025 3)FAIR VALUE MEASUREMENTS Governmental Accounting Standards Board (GASB) Statement No. 72, Fair Value Measurements and Application, provides the framework for measuring fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value with Level 1 given the highest priority and Level 3 the lowest priority. The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the organization has the ability to access at the measurement date. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include the following: a.Quoted prices for similar assets or liabilities in active markets. b.Quoted prices for identical or similar assets or liabilities in markets that are not active. c.Inputs other than quoted prices that are observable for the asset or liability (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates). d.Inputs that are derived principally from or corroborated by observable market data by correlation or other means (market-corroborated inputs). Level 3 inputs are unobservable inputs for the asset or liability. Notes To Financial Statements Year Ended June 30, 2025 3)FAIR VALUE MEASUREMENTS -Continued Fair value of assets measured on a recurring basis at June 30, 2025 are as follows: Investments classified in Level 2 of the fair value hierarchy are valued using a matrix pricing technique. Matrix pricing is used to value securities based on the securities’ relationship to benchmark quoted prices. Investments not measured at fair value do not fall under the fair value hierarchy as there is no active market for the investments. Quoted Prices in Significant Other Active Markets Observable Inputs Not Measured Total (Level 1)(Level 2)at Fair Value U.S. Government Sponsored Entities 24,243,998$ -$ 24,243,998$ -$ U.S. Treasury Obligations 15,467,575 15,467,575 - - Local Agency Investment Fund (LAIF) 62,459,916 - - 62,459,916 San Diego County Pool 114,000 - - 114,000 Money Market Funds 509,873 - - 509,873 Total $102,795,362 $ 15,467,575 $ 24,243,998 $ 63,083,789 Notes To Financial Statements Year Ended June 30, 2025 4)CAPITAL ASSETS The following is a summary of changes in Capital Assets for the year ended June 30, 2025: Depreciation expense for the year ended June 30, 2025 was $18,417,174. Beginning Ending Balance Additions Deletions Balance Capital Assets, Not Depreciated: Land $ 14,479,573 $ - $ - $ 14,479,573 Construction in Progress 10,712,815 19,416,035 (9,361,560) 20,767,290 Total Capital Assets, Not Depreciated 25,192,388 19,416,035 (9,361,560) 35,246,863 Capital Assets, Being Depreciated: Infrastructure 725,898,078 18,277,862 (644,404) 743,531,536 Field Equipment 6,641,125 180,301 (1,200,573) 5,620,853 Buildings 19,259,406 46,938 (8,126) 19,298,218 Transportation Equipment 4,971,706 1,424,280 (346,506) 6,049,480 Communication Equipment 2,505,474 - - 2,505,474 Office Equipment 7,977,045 - - 7,977,045 Right to Use Assets - Antenna Site 738,501 - - 738,501 Right to Use Assets - SBITA 5,622,806 208,122 (16,611) 5,814,317 Total Capital Assets, Being Depreciated 773,614,141 20,137,503 (2,216,220) 791,535,424 Less Accumulated Depreciation: Infrastructure 332,211,316 16,517,546 (333,493) 348,395,369 Field Equipment 5,152,864 224,482 (123,171) 5,254,175 Buildings 11,109,324 474,726 (2,983) 11,581,067 Transportation Equipment 3,184,435 480,210 (346,506) 3,318,139 Communication Equipment 2,259,444 84,527 - 2,343,971 Office Equipment 7,564,951 133,025 - 7,697,976 Right to Use Assets - Antenna Site 105,500 35,167 - 140,667 Right to Use Assets - SBITA 331,535 467,491 (16,611) 782,415 Total Accumulated Depreciation 361,919,369 18,417,174 (822,764) 379,513,779 Total Capital Assets, Being Depreciated, Net 411,694,772 1,720,329 (1,393,456) 412,021,645 Total Capital Assets, Net $ 436,887,160 $ 21,136,364 $ (10,755,016) $ 447,268,508 Notes To Financial Statements Year Ended June 30, 2025 5) LONG-TERM DEBT Long-term liabilities for the year ended June 30, 2025 are as follows: Water Revenue Bonds In April 2010, Water Revenue Bonds with a face value of $50,195,000 were sold by the Otay Water District Financing Authority to provide funds for the construction of water storage and transmission facilities. The bond issue consisted of two series; Water Revenue Bonds, Series 2010A (Non-AMT Tax Exempt) with a face value of $13,840,000 plus a $1,078,824 original issue premium, and Water Revenue Bonds,Series 2010B (Taxable Build America Bonds) with a face value of $36,355,000. The Series 2010A bonds are due in annual installments of $785,000 to $1,295,000 from September 1, 2012 through September 1, 2024; bearing interest at 2% to 5.25%. The Series 2010B bonds are due in annual installments of $1,365,000 to $3,505,000 from September 1, 2025 through September 1, 2040; bearing interest at 6.377% to 6.577%. Beginning Ending Due Within Balance Additions Deletions Balance One Year Revenue Bonds: 2010 Water Revenue Bonds Series A 1,295,000$ -$ (1,295,000)$ -$ -$ 2010 Water Revenue Bonds Series B 36,355,000 - - 36,355,000 1,365,000 2016 Water Revenue Refunding Bonds 24,020,000 - (1,420,000) 22,600,000 1,495,000 2018 Water Revenue Bonds 25,405,000 - (1,730,000) 23,675,000 1,820,000 2019 Wastewater Revenue Bonds 2,910,000 - (75,000) 2,835,000 80,000 2010 Series A Unamortized Premium 18,600 - (18,600) - - 2016 Bonds Unamortized Premium 2,172,619 - (178,572) 1,994,047 178,571 2018 Bonds Unamortized Premium 2,092,006 - (109,148) 1,982,858 109,148 2019 Bonds Unamortized Discount (11,605) - 461 (11,144) (461) Net Revenue Bonds 94,256,620 - (4,825,859) 89,430,761 5,047,258 Lease Payable 690,539 - (18,781) 671,758 20,469 Subscription-Based IT Payable 5,294,431 - (380,038) 4,914,393 350,056 Total Long-Term Liabilities 100,241,590$ -$ (5,224,678)$ 95,016,912$ 5,417,783$ Notes To Financial Statements Year Ended June 30, 2025 5)LONG-TERM DEBT –Continued Water Revenue Bonds –Continued Interest on both Series is payable on September 1, 2010 and semiannually thereafter on March 1st and September 1st of each year until maturity or earlier redemption. The installment payments are to be made from taxes and net revenues of the Water System as described in the installment purchase agreement, on parity with the payments required to be made by the District for the 2010, 2016 Water Revenue Refunding Bonds and 2018 Water Revenue Bonds described below. The 2010 Water Revenue Bonds contains various covenants and restrictions, principally that the District fix, prescribe, revise and collect rates, fees and charges for the Water System which will at least be sufficient to yield, during each fiscal year, taxes and net revenues equal to one hundred twenty-five percent (125%) of the debt service for such fiscal year. The District was in compliance with these rate covenants for the fiscal year ended June 30, 2025. In May 2016, Water Revenue Refunding Bonds were issued to defease the 2007 Revenue Certificates of Participation. The bonds are due in annual installments of $1,200,000 to $2,235,000 from September 1, 2016 through September 1, 2036; bearing interest of 2%to 5%. The bonds were issued with a face value of $33,385,000 plus $3,630,950 original issue premium. The original issue premium is being amortized over the 20-year life of the Series 2016 bonds. Amortization for the year ending June 30, 2025 was $178,572. The amortization is included in interest expense. The unamortized premium at June 30, 2025 is $1,994,047. In November 2018, Water Revenue Bonds were issued by the Otay Water District Financing Authority to provide funds for construction of water storage, treatment and transmission facilities and to refinance the 1996 Certificates of Participation. The bonds are due in annual installments of $775,000 to $1,915,000 from September 1, 2019 through September 1, 2043; bearing interest of 3% to 5%. The bonds were issued with a face value of $32,435,000 plus $2,710,512 original issue premium. The original issue premium is being amortized over the 25-year life of the Series 2018 bonds. Amortization for the year ending June 30, 2025 was $109,148. The amortization expense is included in interest expense. The unamortized premium at June 30, 2025 is $1,982,858. Notes To Financial Statements Year Ended June 30, 2025 5)LONG-TERM DEBT –Continued Water Revenue Bonds –Continued The total amount outstanding at June 30, 2025 and aggregate maturities of the revenue bonds for the fiscal years subsequent to June 30, 2025, are as follows: For the Year Ended June 30,Principal Interest 2026 1,365,000$ 2,328,345$ 2027 1,450,000 2,238,589 2028 1,545,000 2,143,093 2029 1,640,000 2,041,540 2030 1,745,000 1,933,609 2031-2035 10,570,000 7,756,703 2036-2040 14,535,000 3,664,211 2041 3,505,000 115,262 36,355,000$ 22,221,352$ 2010 Water Revenue Bond Series B For the Year Ended June 30,Principal Interest Principal Interest 2026 1,495,000$ 733,706$ 1,820,000$ 972,538$ 2027 1,570,000 657,081 1,915,000 879,163 2028 1,645,000 584,931 1,030,000 805,538 2029 1,715,000 517,731 1,080,000 752,788 2030 1,785,000 447,731 1,135,000 697,413 2031-2035 9,985,000 1,319,884 6,485,000 2,663,513 2036-2040 4,405,000 130,413 6,360,000 1,346,744 2041-2044 - - 3,850,000 274,400 22,600,000$ 4,391,477$ 23,675,000$ 8,392,097$ Refunding Bonds Revenue Bonds 2016 Water Revenue 2018 Water Notes To Financial Statements Year Ended June 30, 2025 5)LONG-TERM DEBT –Continued Wastewater Revenue Bonds In December 2019, Wastewater Revenue Bonds were issued by the Otay Water District Financing Authority to provide funds to pay for certain capital improvements to the District’s wastewater system. The bonds are due in annual installments of $65,000 to $160,000 from September 1, 2021 through September 1, 2049; bearing interest of 2% to 3.125%. The bonds were issued with a face value of $3,120,000 less a $13,680 original issue discount. The original issue discount is being amortized over the 30-year life of the Series 2019 bonds. Amortization for the year ending June 30, 2025 was $461. The amortization expense is included in interest expense. The unamortized discount at June 30,2025 is $11,144. The 2019 Wastewater Revenue Bonds contains various covenants and restrictions, principally that the District fix, prescribe, revise and collect rates, fees and charges for the Wastewater System which will at least be sufficient to yield, during each fiscal year, net revenues equal to one hundred fifteen percent (115%) of the debt service for such fiscal year. The District was in compliance with these rate covenants for the fiscal year ended June 30, 2025. Future debt service requirements for the bonds are as follows: For the Year Ended June 30,Principal Interest 2026 80,000$ 83,091$ 2027 80,000 80,691 2028 85,000 78,216 2029 85,000 75,666 2030 90,000 73,041 2031-2035 480,000 326,394 2036-2040 550,000 255,095 2041-2045 635,000 167,191 2046-2050 750,000 60,156 2,835,000$ 1,199,541$ 2019 Wastewater Revenue Bonds Notes To Financial Statements Year Ended June 30, 2025 5)LONG-TERM DEBT –Continued Revenues Pledged The District has pledged a portion of future water sales revenues to repay its Water Revenue and Water Revenue Refunding Bonds. The total principal and interest remaining on the water revenue bonds and water revenue refunding bonds is $117,634,926 payable through fiscal year 2044. For June 30, 2025, principal and interest paid by the water sales revenues were $4,445,000 and $4,273,731 respectively. The District has pledged a portion of future wastewater sales revenues to repay its Wastewater Revenue Bonds. The total principal and interest remaining on the wastewater revenue bonds is $4,034,541 payable through fiscal year 2050. For June 30, 2025, principal and interest paid by the wastewater sales revenues were $75,000 and $85,416, respectively. Lease Payable Antenna Site Lease The District has one antenna site sublease payable with a lease term of forty-eight years. The District is required to make annual fixed payments ranging from $15,100 to $64,303, with a discount rate of 1.39%. The lease has three extension options of five years each. As of June 30, 2025, the value of the lease payable is $671,758. Future lease payable requirements are as follows: For the Year Ended June 30,Principal Interest 2026 20,469$ 9,207$ 2027 22,253 8,911 2028 24,134 8,590 2029 26,114 8,242 2030 28,206 7,866 2031-2035 176,710 32,582 2036-2040 249,214 17,930 2041-2042 124,658 1,834 671,758$ 95,162$ Notes To Financial Statements Year Ended June 30, 2025 5)LONG-TERM DEBT –Continued Subscription-Based Information Technology Arrangements Fracta AI-Based Condition Assessment Software On July 20, 2022, the District entered into a 36-month subscription for the use of Fracta AI-Based Condition Assessment Software.An initial subscription liability was recorded in the amount of $35,494. As of June 30, 2025, the value of the subscription liability is $0.The value of the right to use asset as of June 30, 2025 is $35,494 with accumulated amortization of $35,494 is included in note 4 with right to use assets. Samsara Networks, Inc. On July 5, 2022, the District entered into a 36-month subscription for the use of GPS fleet management system software.An initial subscription liability was recorded in the amount of $70,934. As of June 30, 2025, the value of the subscription liability is $0. The value of the right to use asset as of June 30, 2025 of $70,934 with accumulated amortization of $70,934 is included in note 4 with right to use assets. Tyler Software SAAS On January 1, 2024, the District entered into a 15-year subscription for the use of SaaS Services to access Tyler Software. An initial subscription liability was recorded in the amount of $5,270,119. As of June 30, 2025, the value of the subscription liability is $4,834,692. The District is required to make annual variable payments ranging from $168,779 to $467,260. The subscription has an interest rate of 1.39%. The value of the right to use asset as of June 30, 2025 is $5,270,119 with accumulated amortization of $527,012 is included in note 4 with right to use assets. Planet Bids On December 1, 2023, the District entered into a 30-month subscription for the use of Planet Bids software. An initial subscription liability was recorded in the amount of $61,870. As of June 30, 2025, the value of the subscription liability is $23,778. The District is required to make annual variable payments ranging from $15,331 to $24,109. The subscription has an interest rate of 1.39%. The value of the right to use asset as of June 30, 2025 is $61,870 with accumulated amortization of $32,997 is included in note 4 with right to use assets. Notes To Financial Statements Year Ended June 30, 2025 5)LONG-TERM DEBT –Continued Subscription-Based Information Technology Arrangements –Continued ESRI On June 26, 2023, the District entered into a 36-month subscription for the use of ESRI software. An initial subscription liability was recorded in the amount of $167,779. As of June 30, 2025, the value of the subscription liability is $55,923. The District is required to make annual fixed payments of $56,700. The subscription has an interest rate of 1.39%. The value of the right to use asset as of June 30, 2025 is $167,779 with accumulated amortization of $111,852 is included in note 4 with right to use assets. Future SBITA payable requirements are as follows: 6) NET POSITION Designations of Net Position In addition to the restricted net position, a portion of unrestricted net position has been designated by the Board of Directors for the following purposes as of June 30, 2025: For the Year Ended June 30,Principal Interest 2026 350,056$ 68,310$ 2027 274,113 63,444 2028 288,050 59,634 2029 302,485 55,630 2030 317,432 51,426 2031-2035 1,830,546 186,525 2036-2039 1,551,711 50,274 4,914,393$ 535,243$ Designated Betterment 350,588$ Replacement Reserve 38,015,690 Designated New Supply Fund 6,661 Undesignated 18,147,852 Total $ 56,520,791 Notes To Financial Statements Year Ended June 30, 2025 7)DEFINED BENEFIT PENSION PLAN A)General Information about the Pension Plans Plan Descriptions All qualified permanent and probationary employees are eligible to participate in the District’s Plan, agent multiple-employer defined benefit pension plans administered by the California Public Employees’ Retirement System (CalPERS), which acts as a common investment and administrative agent for its participating member employers. Benefit provisions under the Plans are established by State statute and District resolution. CalPERS issues publicly available reports that include a full description of the pension plans regarding provisions, assumptions and membership information that can be found on the CalPERS website. CalPERS provides service retirement and disability benefits, annual cost of living adjustments and death benefits to plan members, who must be public employees and beneficiaries. Benefits are based on years of credited service, equal to one year of full-time employment. Members with five years of total service are eligible to retire at age 50 (52 if new PERS member)with statutorily reduced benefits. All members are eligible for non-duty disability benefits after 10 years of service. The death benefit is one of the following: the Basic Death Benefit, the 1959 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost-of-living adjustments for the plan are applied as specified by the Public Employees’ Retirement Law. Notes To Financial Statements Year Ended June 30, 2025 7) DEFINED BENEFIT PENSION PLAN –Continued Benefits Provided The Plans’ provisions and benefits in effect at June 30, 2025 are summarized as follows: Prior to On or After Hire Date January 1, 2013 January 1, 2013 Benefit Formula 2.7% at 55 2% at 62 Benefit Vesting Schedule 5 years’ service 5 years’ service Benefit Payments Monthly for life Monthly for life Retirement Age 50 –55+52 –67+ Monthly Benefits, as a % of Eligible Compensation 2.0% to 2.7%1.0% to 2.5% Required Employee Contribution Rates 2025 8.00%7.50% Required Employer Contribution Rates 2025 24.94%24.94% Employees Covered The following employees were covered by the benefit terms for the Plan: Inactive Employees or Beneficiaries Currently Receiving Benefits 227 Inactive Employees Entitled to But Not Yet Receiving Benefits 130 Active Employees 137 Total 494 Contributions Section 20814(c) of the California Public Employees’ Retirement Law requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. The total plan contributions for the Plan are determined through CalPERS’ annual actuarial valuation process. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. Notes To Financial Statements Year Ended June 30, 2025 7)DEFINED BENEFIT PENSION PLAN –Continued The employer is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. Employer contribution rates may change if plan contracts are amended. B)Net Pension Liability The District’s net pension liability for the Plan is measured as the total pension liability, less the pension plan’s fiduciary net position. The net pension liability of the Plan is measured as of June 30, 2024 rolled forward to June 30, 2025 using standard update procedures. A summary of actuarial assumptions and methods used to determine the net pension liability is shown below: Actuarial Assumptions The total pension liabilities in the June 30, 2024 actuarial valuations were determined using the following actuarial assumptions: Actuarial Cost Method Entry-Age Actuarial Cost Method Actuarial Assumptions: Discount Rate 6.90% Inflation 2.30% Salaries Increases Varies by entry age and service Mortality Rate Table Derived using CalPERS membership data for all funds(1) Post Retirement Benefit Increase See Footnote(2) (1)The mortality table used was developed based on CalPERS-specific data. The probabilities of mortality are based on the 2021 CalPERS Experience Study and Review of Actuarial Assumptions. Mortality rates incorporate full generational mortality improvement using 80% of Scale MP-2020 published by the Society of Actuaries. For more details on this table, please refer to the 2021 experience study report from November 2021 that can be found on the CalPERS website. (2)The lesser of contract COLA or 2.30% until Purchasing Power Protection Allowance floor on purchasing power applies, 2.30% thereafter. Notes To Financial Statements Year Ended June 30, 2025 7)DEFINED BENEFIT PENSION PLAN –Continued Discount Rate The discount rate used to measure the total pension liability was 6.90%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability. Long-term Expected Rate of Return The long-term expected rate of return on pension plan investments was determined using a building- block method in which future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations. Using historical returns of all the funds’ asset classes, expected compound (geometric) returns were calculated over the next 20 years using a building block approach. The expected rate of return was then adjusted to account for assumed administrative expenses of 10 Basis points. The expected real rates of return by asset class are as follows: (a)An expected inflation of 2.30% used for this period. (b)Figures are based on the 2021 Asset Liability Management study. Assumed Asset Class(a)Asset Allocation Real Return(b) Global Equity - Cap-weighted 30.00%4.54% Global Equity - Non-Cap-weighted 12.00 3.84 Private Equity 13.00 7.28 Treasury 5.00 0.27 Mortgage-backed Securities 5.00 0.50 Investment Grade Corporates 10.00 1.56 High Yield 5.00 2.27 Emerging Market Debt 5.00 2.48 Private Debt 5.00 3.57 Real Assets 15.00 3.21 Leverage (5.00) (0.59) Notes To Financial Statements Year Ended June 30, 2025 7)DEFINED BENEFIT PENSION PLAN –Continued C)Changes in the Net Pension Liability (Asset) The changes in the Net Pension Liability (Asset) for the Plan for the year ending June 30, 2025: Total Pension Plan Fiduciary Net Pension Liability Net Position Liability (Asset) Beginning Balance 174,580,366$146,026,421$ 28,553,945$ Changes in the Year: Service Cost 3,111,192 - 3,111,192 Interest on the Total Pension Liability 11,829,614 - 11,829,614 Difference Between Expected and Actual Experience (58,875) - (58,875) Net Plan to Plan Resource Movement - - - Contributions - Employer 3,156,662 (3,156,662) Contributions - Employees 1,203,583 (1,203,583) Net Investment Income 13,765,459 (13,765,459) Benefit Payments, Including Refunds of Employee Contributions (9,266,810) (9,266,810) - Administrative Expense - (118,822) 118,822 Net Changes 5,615,121 8,740,072 (3,124,951) Ending Balance 180,195,487$154,766,493$ 25,428,994$ Increase ( Decrease) Notes To Financial Statements Year Ended June 30, 2025 7)DEFINED BENEFIT PENSION PLAN –Continued Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the net pension liability of the District for the Plan, calculated using the discount rate for the Plan, as well as what the District’s net pension liability would be if it were calculated using a discount rate that is 1-percentage point lower or 1-percentage point higher than the current rate: Pension Plan Fiduciary Net Position Detailed information about the pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports. D) Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions For the year ended June 30, 2025, the District recognized pension expense of $6,903,416.At June 30, 2025, the District reported deferred outflows of resources and deferred inflows of resources related to pensions from the following services: 2025 1% Decrease 5.90% Net Pension Liability 47,764,034$ Current Discount Rate 6.90% Net Pension Liability 25,428,994$ 1% Increase 7.90% Net Pension Liability/(Asset)6,761,301$ Deferred Outflows Deferred Inflows of Resources of Resources Pension contributions subsequent to measurement date 3,891,166$ -$ Differences between actual and expected experience 883,663 (37,848) Net difference between projected and actual earnings on pension plan investments 2,405,434 - Total 7,180,263$ (37,848)$ Notes To Financial Statements Year Ended June 30, 2025 7)DEFINED BENEFIT PENSION PLAN –Continued D)Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions -Continued $3,891,166 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the fiscal year ended June 30, 2026. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows: Gains and losses related to changes in total pension liability and fiduciary net position are recognized in pension expense systematically over time. The first amortized amounts are recognized in pension expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to pensions and are to be recognized in future pension expense.The amortization period differs depending on the source of the gain or loss: Net difference between projected and actual earnings on pension plan investments 5-year straight-line amortization All other amounts Straight-line amortization over the expected average remaining service lifetime (EARSL) of all members that are provided with benefits (active, inactive, and retired) as of the beginning of the measurement period Fiscal Deferred Year Ended Outflow/(Inflows) June 30 of Resources 2026 780,150$ 2027 3,827,111 2028 (582,687) 2029 (773,325) 2030 - Thereafter - Notes To Financial Statements Year Ended June 30, 2025 7)DEFINED BENEFIT PENSION PLAN –Continued E)Payable to the Pension Plan At June 30, 2025, the District reported a payable of $179,091 for the outstanding amount of contributions to the pension plan required for the year ended June 30, 2025. These payables are reflected in the accrued payroll liabilities on the Statement of Net Position. F)Subsequent Events There were no subsequent events that would materially affect the results presented in this disclosure. 8)OTHER POST EMPLOYMENT BENEFITS (OPEB) Plan Description The District’s defined benefit postemployment healthcare plan, (DPHP), provides medical benefits to eligible retired District employees and beneficiaries. DPHP is part of the Public Agency portion of the California Employers’ Retiree Benefit Trust Fund (CERBT), an agent multiple-employer plan administered by California Public Employees’ Retirement System (CalPERS), which acts as a common investment and administrative agent for participating public employers within the State of California. CalPERS issues a separate Annual Comprehensive Financial Report. Copies of the CalPERS’ annual financial report may be obtained from the CalPERS Executive Office, 400 P Street, Sacramento, California 95814. Prior to the plan agreements signed in 2011, the eligibility in the plan was broken into three tiers, employees hired before January 1, 1981, employees hired on or after January 1, 1981 but before July 1, 1993 and employees hired on or after July 1, 1993. Board members elected before January 1, 1995 are also eligible for the plan. Eligibility also includes age and years of service requirements which vary by tier. Benefits include up to 100% medical and/or dental premiums for life for the retiree for Tier I or II employees, and up to 100% spouse premium until death of retiree or age 65 whichever is greater and dependent premium up to age 19.Tier III employees received up to 50% medical (no dental coverage) up to age 65 and did not include dependent coverage. Subsequent to the agreements in 2011 and 2012 all employees are eligible for the plan after 20 years of consecutive service and unrepresented employees hired before January 1, 2013 are eligible after 15 years. Survivor benefits are covered beyond Medicare. Notes To Financial Statements Year Ended June 30, 2025 8)OTHER POST EMPLOYMENT BENEFITS (OPEB) -Continued Employees Covered As of June 30, 2024 actuarial valuation, the following current and former employees were covered by the benefit terms under the Plan: Contributions The annual contribution is based on the actuarially determined contribution. For the fiscal year ended June 30, 2025, the District made cash contributions to the trust of $2,537,706 and had an estimated implied subsidy of $235,798, resulting in total payments of $2,773,504. Net OPEB Liability The District’s net OPEB liability was measured as of June 30, 2024 and the total OPEB liability used to calculate the net OPEB liability was determined by actuarial valuations dated June 30, 2024 based on the following actuarial methods and assumptions: Actuarial Assumptions Discount Rate 6.75% Inflation 2.50% Salary Increases 2.75% Investment Rate of Return 6.75% Mortality Rate(1)Derived using CalPERS Membership Data for all funds Pre-Retirement Turnover(2)Derived using CalPERS Membership Data for all funds Healthcare Trend Rate 4.50% PPO Notes: (1)The mortality assumptions are based on the 2021 CalPERS Mortality for Miscellaneous and Schools Employees table created by CalPERS. CalPERS periodically studies mortality for participating agencies and established mortality tables that are modified versions of commonly used tables. This table incorporates mortality projection as deemed appropriate based on CalPERS analysis. (2)The retirement assumptions are based on the 2021 CalPERS 2.0%@62 and 2.7%@55. Rates for Miscellaneous Employees tables created by CalPERS. CalPERS periodically studies the experience for participating agencies and establishes tables that are appropriate for each pool. Active Employees 78 Inactive Employees or Beneficiaries Currently Receiving Benefits 85 Inactive Employees Entitled to But Not Yet Received Benefits - Total 163 Notes To Financial Statements Year Ended June 30, 2025 8)OTHER POST EMPLOYMENT BENEFITS (OPEB) -Continued Net OPEB Liability (Continued) The long-term expected rate of return on OPEB plan investments was determined using a building block method in which best-estimate ranges of expected future real rates of return (expected returns, net of OPEB plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. Best estimates of arithmetic real rates of return for each major asset class included in the OPEB plan’s target asset are summarized in the following table for the June 30, 2024 actuarial valuation: Discount Rate The discount rate used to measure the total OPEB liability was 6.75% for the June 30, 2024 measurement period. The projection of cash flows used to determine the discount rate assumed that District contributions will be made at rates equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected to be available to make all projected OPEB payments for current active and inactive employees and beneficiaries. Therefore, the long-term expected rate of return on OPEB plan investments was applied to all periods of projected benefit payments to determine the total OPEB liability. Percentage Assumed Asset Class of Portfolio Gross Return All Equities 49.00%7.25% All Fixed Income 23.00%4.25% Real Estate Investment Trust 20.00%7.25% All Commodities 3.00%7.25% Treasury Inflation Protected Securities (TIPS)5.00%3.00% Notes To Financial Statements Year Ended June 30, 2025 8)OTHER POST EMPLOYMENT BENEFITS (OPEB) -Continued Changes in the OPEB Liability (Asset) The changes in the net OPEB liability (asset) for the Plan for the year ending June 30, 2025: Sensitivity of the Net OPEB Liability (Asset) to Changes in the Discount Rate The following presents the net OPEB liability (asset) of the District if it were calculated using a discount rate that is one percentage point lower or one percentage point higher than the current rate, for the measurement period ended June 30, 2024: Total OPEB Plan Fiduciary Net OPEB Liability Net Position Liability (Asset) Beginning Balance 42,648,870$ 31,446,524$ 11,202,346$ Changes in the year: Service Cost 1,310,461 - 1,310,461 Interest on TOL/Return on FNP 2,867,289 3,532,940 (665,651) Difference Between Expected and Actual Experience (3,292,876) - (3,292,876) Changes in Benefit Terms (3,464,001) - (3,464,001) Contributions - Employer - 2,775,728 (2,775,728) Benefit Payments (1,637,067) (1,637,067) - Administrative Expenses - (10,423) 10,423 Net Changes (4,216,194) 4,661,178 (8,877,372) Ending Balance 38,432,676$ 36,107,702$ 2,324,974$ Increase ( Decrease) Current 1% Decrease Discount Rate 1% Increase 5.75%6.75%7.75% 2025 Net OPEB Liability (Asset) (2024 Measurement Date)7,082,330$ 2,324,974$ (1,639,180)$ Notes To Financial Statements Year Ended June 30, 2025 8)OTHER POST EMPLOYMENT BENEFITS (OPEB) -Continued Sensitivity of the Net OPEB Liability (Asset) to Changes in the Healthcare Cost Trend Rates The following presents the net OPEB liability of the District if it were calculated using health care cost trend rates that are one percentage point lower or one percentage point higher than the current rate, for measurement period ended June 30, 2024: OPEB Plan Fiduciary Net Position CERBT issues a publicly available financial report that may be obtained from the California Public Employees Retirement System Executive Office, 400 P Street, Sacramento, California 95814. Recognition of Deferred Outflows and Deferred Inflows of Resources Gains and losses related to changes in total OPEB liability and fiduciary net position are recognized in OPEB expense systematically over time. Amounts are first recognized in OPEB expense for the year the gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of resources related to OPEB and are to be recognized in future OPEB expense. The recognition period differs depending on the source of the gain or loss: Net difference between projected and actual earnings on OPEB plan investments 5 years All other amounts Expected average remaining service lifetime (EARSL) Current Healthcare Cost 1% Decrease Trend Rates 1% Increase 2025 Net OPEB Liability (Asset) (2024 Measurement Date)(2,150,733)$ 2,324,974$ 7,771,156$ Notes To Financial Statements Year Ended June 30, 2025 8)OTHER POST EMPLOYMENT BENEFITS (OPEB) -Continued OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB For the fiscal year ended June 30, 2025, the District recognized OPEB expense (income)of ($2,408,150). As of the fiscal year ended June 30, 2025, the District reported deferred outflows and inflows of resources related to OPEB from the following sources: $2,773,504 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net OPEB liability in the fiscal year ended June 30, 2026. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows: Effective September 1, 2024, the District created a Health Reimbursement Arrangement (HRA)plan (a defined contribution plan) and closed the District’s current OPEB plan. Employees hired on or after September 1, 2024 are no longer eligible to enter the District’s OPEB plan. However,they are required to join the HRA plan. Employees hired prior to September 1,2024 had the option to remain in the current OPEB plan or opt in to the HRA plan. Deferred Outflows Deferred Inflows of Resources of Resources OPEB contributions subsequent to measurement date 2,773,504$ -$ Differences between expected and actual experience 5,911,486 (2,606,860) Changes in assumptions 29,480 (641,254) Net difference between projected and actual earnings on OPEB plan investments 565,903 - Total 9,280,373$ (3,248,114)$ Fiscal Deferred Year Ended Outflows/(Inflows) June 30, of Resources 2026 453,097$ 2027 1,639,271 2028 190,027 2029 49,413 2030 842,683 Thereafter 84,264 Notes To Financial Statements Year Ended June 30, 2025 9) OTHER NON-CURRENT LIABILITIES Other non-current liabilities for the year ended June 30, 2025, are as follows: * Compensated absences as of June 30, 2024 were restated as a result of the implementation of Governmental Accounting Standards Board (GASB) Statement No. 101 Compensated Absences. 10) COMMITMENTS AND CONTINGENCIES Construction Commitments The District has commitments related to capital projects under construction with an estimated cost to complete of $19,009,944 at June 30, 2025. Litigation Certain claims, suits, and complaints arising in the ordinary course of operation have been filed or are pending against the District. In the opinion of the staff and counsel, most of those matters are adequately covered by insurance, or if not so covered,are without merit or are of such kind, or involved such amounts, as would not have significant effect on the financial position or results of operations of the District if disposed of unfavorably. There is one case, see below, that could have a significant effect on the District’s financial position. In November 2015, a District ratepayer filed a class-action lawsuit against the District (Coziahr v. Otay Water District, Superior Court of the State of California, County of San Diego), contending that the District’s tiered residential water rates from mid-2014 through 2022 violated Article XIIID of the California Constitution (“Proposition 218”). On March 4, 2021, the court issued a decision in favor of the plaintiffs, holding that Otay’s tiered water rates adopted in 2013 and 2017 were not proportionate to the cost of service attributable to each customer’s parcel, as required by Proposition 218. Beginning Ending Due Within Balance Additions Deletions Balance One Year Compensated absences *3,486,190$ 1,887,312$ (1,568,719)$ 3,804,783$ 380,478$ Customer credits 264,156 4,176 - 268,332 - Reimbursement agreements 356,644 - - 356,644 - Accrued liability 27,000,000 - - 27,000,000 - Total 31,106,990$ 1,891,488$ (1,568,719)$ 31,429,759$ 380,478$ Notes To Financial Statements Year Ended June 30, 2025 10) COMMITMENTS AND CONTINGENCIES -Continued On June 15, 2022, the court issued a Statement of Decision in the case. Applying and adjusting plaintiffs’ calculations, the court ordered refunds to ratepayers through June 2021 in the amount of $18,105,256, plus approximately $208,762 plus interest each month from June 2021 until the District changed its rates to be consistent with Proposition 218. The District appealed the decision to the Court of Appeal, and changed its rates effective January 2023. The Court of Appeal upheld the trial court’s determination that a refund was owed, but the amount was found to be calculated in error and the case was remanded to the trial court for further proceedings. The remand action is currently pending in San Diego Superior Court, with an estimated trial date of February 2026. The District is aggressively litigating the matter, including by challenging the plaintiffs’ calculations, and by arguing for the application of newly-enacted statutes and newly-decided case law. Since the time of the remand, state law has changed to clarify both that rates based on peaking factors like Otay’s rates are valid (AB 1824) and that challengers are not entitled to refunds for Proposition 218 rate challenges, but instead that rate credits may be available in the next rate-setting procedure (SB 1072). In addition, SB 1072 was upheld by the Court of Appeal in a published companion case, Patz v. City of San Diego, in Summer 2025. There, the court ruled that under SB 1072, challengers in Proposition 218 cases are not entitled to refunds. The City of San Diego has petitioned for review of that case to the California Supreme Court. Refundable Terminal Storage Fees The District has entered into an agreement with several developers whereby the developers prepaid the terminal storage fee in order to provide the District with the funds necessary to build additional storage capacity. The agreement further allows the developers to relinquish all or a portion of such water storage capacity. If the District grants to another property owner the relinquished storage capacity, the District shall refund to the applicable developer $746 per equivalent dwelling unit (EDU). There were 17,867 EDUs that were subject to this agreement. At June 30, 2025, 1,750 EDUs had been relinquished and refunded, 15,105 EDUs had been connected, and 1,012 EDUs have neither been relinquished nor connected. Notes To Financial Statements Year Ended June 30, 2025 10)COMMITMENTS AND CONTINGENCIES –Continued Developer Agreements The District has entered into various Developer Agreements with developers towards the expansion of District facilities. The developers agree to make certain improvements and after the completion of the projects,the District agrees to reimburse such improvements with a maximum reimbursement amount for each developer. Contractually, the District does not incur a liability for the work until the work is accepted by the District. As of June 30, 2025, none of the outstanding developer projects had been completed. It is anticipated that the District will be liable for an amount not to exceed $1,725,000 at the point of acceptance. Accordingly, the District has accrued this amount as of year-end. 11)RISK MANAGEMENT General Liability and Property The District is exposed to various risks of loss related to torts, theft, damage and destruction of assets, errors and omissions, and natural disasters. The District is a member in an insurance pool through the Association of California Water Agencies Joint Powers Insurance Authority (ACWA JPIA). ACWA JPIA is a not-for-profit public agency formed under California Government Code Sections 6500 et. Seq. ACWA JPIA is governed by a board composed of members from participating agencies. The District pays an annual premium for commercial insurance covering general liability, excess liability, property, automobile, public employee dishonesty, and various other claims. Separate financial statements of ACWA JPIA may be obtained at ACWA JPIA 2100 Professional Drive, Roseville, CA 95661-3700. General and Auto Liability, Public Officials’ Errors and Omissions and Employment Practices Liability: JPIA pools for the first $5 million and purchases excess coverage up to $55 million. No deductible for losses arising out of liability or imposed by law or assumed by contract. Notes To Financial Statements Year Ended June 30, 2025 11)RISK MANAGEMENT –Continued Excess Crime Coverage: Total of $1 million per loss includes Public Employee Dishonesty, Forgery or Alteration,Computer Fraud, Faithful Performance of Duty and Impersonation Fraud subject to $1,000 deductible effective July 1, 2024. Property Loss: Replacement cost up to scheduled value total of $372 million with program aggregates up to $150 million, subject to $25,000 basic deductible (5% total insured value for earthquake, $100,000 for flood) effective July 1, 2024. Boiler and Machinery: Replacement costs up to $100 million per occurrence, subject to a $25,000 deductible, $50,000 for turbine or power generation equipment) effective July 1, 2024. Comprehensive and Collision: For scheduled vehicles and mobile equipment, subject to $1,000 deductible effective July 1, 2024. Workers’ Compensation Coverage and Employer’s Liability: Statutory limits per occurrence for Workers’ Compensation and $2.0 million for Employer’s Liability Coverage, subject to the terms, conditions and exclusions as provided in the Memorandum of Coverage, effective July 1, 2024. Cyber Coverage: $5 million Annual Program-Wide Aggregate Limit of Liability and $3 million maximum for each Insured/Member for Information Security & Privacy Liability subject to $100,000 deductible. Fiduciary Coverage: Otay Water District Deferred Compensation Plan $2 million aggregate limit of liability, per incident limits of $1.5 million for HIPPA/HITECH fines and $250,000 for all else. Retention: $10,000 each claim and $50,000 per claim due to Class Action and Derivative Claims During the past three fiscal years, none of the above programs of protection experienced settlements or judgments that exceeded pooled or insured covered. There were also no significant reductions in pooled or insured liability coverage in fiscal year 2024-25. 12) LEASES RECEIVABLE The District has entered into 30 cell site leases with lease terms ranging from less than one year to sixty years. The lessees are required to make annual fixed payments ranging from $29,532 to $60,503, with discount rates of 1.39%. As of June 30,2025, the lease receivable is $50,369,933 and deferred inflows of resources is $46,429,877. The District recognized $2,083,057 of lease revenue during the fiscal year. Notes To Financial Statements Year Ended June 30, 2025 13)RESTATEMENT During the year ended June 30, 2025, the District adopted new accounting guidance by implementing the provisions of GASB 101. As a result of this implementation, additional compensated absences resulted from the addition of payroll-related taxes and benefits associated with the accrued leave. The following summarizes the net effects on beginning net position: 14)SEGMENT INFORMATION The District has issued Water and Wastewater Revenue Bonds in the previous fiscal years to finance certain capital improvements. While water and wastewater services are accounted for jointly in these financial statements, the investors in the Water Revenue Bonds rely solely on the revenues of the water services for repayment and the Wastewater Revenue Bonds solely on the revenues of the wastewater services for repayment. Summary of financial information for the water and wastewater services is presented for June 30, 2025 on the following pages: Total Net Position, Beginning, as Previously Reported 404,274,141$ Restatement for Implementation of GASB 101 (233,092) Total Net Position, Beginning, as Restated 404,041,049$ Notes To Financial Statements Year Ended June 30, 2025 14)SEGMENT INFORMATION –Continued Water Wastewater Services Services Total Assets Cash and Investments 95,223,198$ 8,933,769$ 104,156,967$ Accounts Receivable, Net 18,693,448 225,230 18,918,678 Other Current Assets 13,926,691 125,892 14,052,583 Leases Receivable 50,369,933 - 50,369,933 Capital Assets 420,858,927 26,409,581 447,268,508 Total Assets 599,072,197 35,694,472 634,766,669 Deferred Outflows of Resources Deferred Actuarial Pension Costs 6,944,979 235,284 7,180,263 Deferred Actuarial OPEB Costs 8,870,720 409,653 9,280,373 Total Deferred Outflows of Resources 15,815,699 644,937 16,460,636 Liabilities Accounts Payable 17,138,271 379,624 17,517,895 Other Miscellaneous Liabilities 6,931,553 1,470,389 8,401,942 Other Current Liabilities 11,813,113 107,636 11,920,749 Revenue Bonds 81,639,186 2,744,317 84,383,503 Lease Payable 651,289 - 651,289 Subscription-Based IT Payable 4,564,337 - 4,564,337 Net Pension Liability 24,594,827 834,167 25,428,994 Net OPEB Liability 2,182,633 142,341 2,324,974 Other Non-current Liabilities 31,049,281 - 31,049,281 Total Liabilities 180,564,490 5,678,474 186,242,964 Deferred Inflows of Resources Deferred Actuarial OPEB Costs 3,131,294 116,820 3,248,114 Deferred Actuarial Pension Costs 36,410 1,438 37,848 Deferred Inflows from Leases 46,429,877 - 46,429,877 Total Deferred Inflows of Resources 49,597,581 118,258 49,715,839 Net Position Net Investment in Capital Assets 328,197,438 23,585,725 351,783,163 Restricted for Debt Service 3,826,616 - 3,826,616 Restricted for Capital Assets 3,137,932 - 3,137,932 Unrestricted 49,563,839 6,956,952 56,520,791 Total Net Position 384,725,825$ 30,542,677$ 415,268,502$ June 30, 2025 Condensed Statement of Net Position Notes To Financial Statements Year Ended June 30, 2025 14)SEGMENT INFORMATION –Continued Water Wastewater Services Services Total Operating Revenues Water Sales 121,483,491$ -$ 121,483,491$ Wastewater Revenue - 3,500,945 3,500,945 Connection and Other Fees 3,764,046 38,157 3,802,203 Total Operating Revenues 125,247,537 3,539,102 128,786,639 Operating Expenses Cost of Water Sales 89,595,836 - 89,595,836 Wastewater - 2,578,457 2,578,457 Administrative and General 33,449,222 - 33,449,222 Depreciation 17,362,542 1,054,632 18,417,174 Total Operating Expenses 140,407,600 3,633,089 144,040,689 Operating Income (Loss)(15,160,063) (93,987) (15,254,050) Non-Operating Revenues (Expenses) Investment Earnings (Losses)5,811,145 187,792 5,998,937 Taxes and Assessments 6,171,087 - 6,171,087 Availability Charges 665,683 51,508 717,191 Gain (Loss) on Sale of Capital Assets (228,041) - (228,041) Rents and Leases 2,083,057 - 2,083,057 Miscellaneous Revenues 2,097,575 - 2,097,575 Donations (97,105) - (97,105) Interest Expense (3,969,268) (85,025) (4,054,293) Miscellaneous Expenses (382,042) (12,493) (394,535) Total Non-operating Revenues (Expenses)12,152,091 141,782 12,293,873 Income (Loss) Before Capital Contributions and Transfers (3,007,972) 47,795 (2,960,177) Capital Contributions 13,885,347 302,283 14,187,630 Change in Net Position 10,877,375 350,078 11,227,453 Total Net Position, Beginning, as Previously Reported 374,081,542 30,192,599 404,274,141 Restatement (Note 13)(233,092) - (233,092) Total Net Position, Beginning, as Restated 373,848,450 30,192,599 404,041,049 Total Net Position, Ending 384,725,825$ 30,542,677$ 415,268,502$ Condensed Statement of Revenues, Expenses and Changes in Net Pension Year Ended June 30, 2025 Notes To Financial Statements Year Ended June 30, 2025 14)SEGMENT INFORMATION –Continued Cash and Cash Equivalents consist of the following: Water Wastewater Services Services Total Net Cash Provided/(Used) by: Operating Activities (7,919,593)$ 1,700,214$ (6,219,379)$ Non-capital and Related Financing Activities 6,797,316 51,508 6,848,824 Capital and Related Financing Activities (21,584,698) (137,741) (21,722,439) Investing Activities 17,715,533 187,792 17,903,325 Net Increase(Decrease) in Cash and Cash Equivalents (4,991,442) 1,801,773 (3,189,669) Cash and Cash Equivalents, Beginning 73,264,995 7,131,996 80,396,991 Cash and Cash Equivalents, Ending 68,273,553$ 8,933,769$ 77,207,322$ For the Year Ended June 30, 2025 Condensed Statement of Cash Flows Cash and Cash Equivalents 70,242,774$ Restricted Cash and Cash Equivalents 6,964,548 Total Cash and Investments 77,207,322$ This page intentionally left blank Schedule of Changes in the Net OPEB Liability and Related Ratios Last Ten Years (1) June 30, 2025 Measurement Period: June 30 2024 2023 2022 2021 Total OPEB Liability Service Cost 1,310,461$ 1,018,363$ 991,108$ 755,756$ Interest on the Total OPEB Liability 2,867,289 2,324,644 2,189,619 2,077,446 Actual and Expected Experience Difference (3,292,876) 5,942,003 254,888 2,595,855 Changes in Assumptions - 41,042 - (1,557,334) Changes in Benefit Terms (3,464,001) - - - Benefit Payment (1,637,067) (1,214,348) (1,428,491) (1,201,678) Net Change in Total OPEB Liability (4,216,194) 8,111,704 2,007,124 2,670,045 Total OPEB Liability - Beginning 42,648,870 34,537,166 32,530,042 29,859,997 Total OPEB Liability - Ending (a)38,432,676$ 42,648,870$ 34,537,166$ 32,530,042$ Plan Fiduciary Net Position Contributions - Employer 2,775,728$ 1,214,348$ 127,444$ 807,867$ Net Investment Income 3,532,940 1,969,238 (4,739,093) 7,880,863 Benefit Payments (1,637,067) (1,214,348) (1,428,491) (1,201,678) Administrative Expenses (10,423) (8,619) (9,034) (10,811) Other Expenses - - - - Net Change in Plan Fiduciary Net Position 4,661,178 1,960,619 (6,049,174) 7,476,241 Plan Fiduciary Net Position - Beginning 31,446,524 29,485,905 35,535,079 28,058,838 Plan Fiduciary Net Position - Ending (b)36,107,702 31,446,524 29,485,905 35,535,079 Net OPEB Liability/(Asset) - Ending (a)-(b)2,324,974$ 11,202,346$ 5,051,261$ (3,005,037)$ Plan Fiduciary Net Position as a Percentage of the Total OPEB Liability 93.95%73.73%85.37%109.24% Covered-Employee Payroll 14,757,192$ 14,393,757$ 14,054,264$ 14,006,918$ Net OPEB Liability/(Asset) as a Percentage of Covered-Employee Payroll 15.75%77.83%35.94%-21.45% Notes to Schedule (1)Historical information is required only for measurement periods for which GASB 75 is applicable.Future years’information will be displayed up to 10 years as information becomes available.Contributions are determined by an actuarial valuation based on eligible participants’ estimated medical and dental benefits. Schedule of Changes in the Net OPEB Liability and Related Ratios Last Ten Years (1) June 30, 2025 Measurement Period: June 30 2020 2019 2018 2017 Total OPEB Liability Service Cost 735,529$ 757,725$ 735,655$ 687,528$ Interest on the Total OPEB Liability 1,915,358 1,970,613 1,864,967 1,764,343 Actual and Expected Experience Difference 1,151,927 (2,029,118) -- Changes in Assumptions -(345,110)-- Changes in Benefit Terms ---- Benefit Payment (1,120,146) (1,141,344) (1,085,586) (1,039,420) Net Change in Total OPEB Liability 2,682,668 (787,234) 1,515,036 1,412,451 Total OPEB Liability - Beginning 27,177,329 27,964,563 26,449,527 25,037,076 Total OPEB Liability - Ending (a)29,859,997$ 27,177,329$ 27,964,563$ 26,449,527$ Plan Fiduciary Net Position Contributions - Employer 1,011,358$ 2,206,363$ 2,202,004$ 2,284,420$ Net Investment Income 983,790 1,595,092 1,734,626 2,011,985 Benefit Payments (1,120,146) (1,141,344) (1,085,586) (1,039,420) Administrative Expenses (13,514) (12,299) (11,784) (10,167) Other Expenses ---- Net Change in Plan Fiduciary Net Position 861,488 2,647,812 2,839,260 3,246,818 Plan Fiduciary Net Position - Beginning 27,197,350 24,549,538 21,739,035 18,492,217 Plan Fiduciary Net Position - Ending (b)28,058,838 27,197,350 24,578,295 21,739,035$ Net OPEB Liability/(Asset) - Ending (a)-(b)1,801,159$ (20,021)$ 3,386,268$ 4,710,492$ Plan Fiduciary Net Position as a Percentage of the Total OPEB Liability 94.00%100.10%87.80%82.20% Covered-Employee Payroll 13,538,959$ 13,176,602$ 12,677,000$ 12,513,000$ Net OPEB Liability/(Asset) as a Percentage of Covered-Employee Payroll 13.30%-0.20%26.90%37.60% Notes to Schedule (1)Historical information is required only for measurement periods for which GASB 75 is applicable.Future years’information will be displayed up to 10 years as information becomes available.Contributions are determined by an actuarial valuation based on eligible participants’ estimated medical and dental Schedule of Contributions Last Ten Years (1) June 30, 2025 Actuarially Determined Contributions in Contribution Contributions as a Fiscal Contribution Relation to the Deficiency Covered-Percentage of Covered- Year (ADC)ADC (Excess)Payroll Payroll 2018 1,116,418$ (2,202,004)$ (1,085,586)$ 12,677,000$ 17.37% 2019 1,149,911 (2,206,363) (1,056,452) 13,176,602 16.74% 2020 1,011,358 (1,011,358) - 13,538,959 7.47% 2021 807,867 (807,867) - 14,006,918 5.77% 2022 127,444 (127,444) - 14,054,264 0.91% 2023 1,214,348 (1,214,348) - 14,393,757 8.44% 2024 2,775,728 (2,775,728) - 14,757,192 18.81% 2025 2,773,504 (2,773,504) - 15,982,606 17.35% Notes to Schedule: Methods and assumptions used to determine contributions: Actuarial Cost Method Entry Age Actuarial Cost Method Amortization Method/Period Level percent of payroll over a closed rolling 15-year period Asset Valuation Method Fair value Inflation 2.50% Payroll Growth 2.75% Investment Rate of Return 6.75% Healthcare Cost-trend Rates 4.50% HMO/4.50% PPO Retirement Age Mortality The actuarial methods and assumptions used to set the actuarially determined contributions for Fiscal Year 2025 were from the June 30,2024 actuarial valuation.Also note,that some of the data from prior years were updated with the most current available information. Tier 1 employees -2.7%at 55 and Tier 2 employees -2.0%at 62.The probabilities of Retirement are based on the 2021 CalPERS Experience Study. The mortality assumptions are based on the 2021 CalPERS Mortality for Miscellaneous and Schools Employees table created by CalPERS. (1)Historical information is required only for measurement periods for which GASB 75 is applicable.Future years’ information will be displayed up to 10 years as information becomes available.Contributions are determined by an actuarial valuation based on eligible participants’ medical and dental benefits. Schedule of Changes in the Net Pension Liability and Related Ratios Last Ten Years June 30, 2025 Measurement Period: June 30 2024 2023 2022 2021 2020 Total Pension Liability Service Cost 3,111,192$ 2,989,611$ 2,994,291$ 2,662,845$ 2,623,208$ Interest 11,829,614 11,457,149 10,864,205 10,489,284 10,043,778 Changes in Benefit Terms -137,177 --- Changes in Assumptions --4,984,447 -- Difference Between Expected and actual Experience (58,875) 3,092,819 174,717 705,426 260,337 Benefit Payments, including Refunds of Employee Contributions (9,266,810) (8,834,436) (8,151,116) (7,304,947) (7,017,816) Net Change in Total Pension Liability 5,615,121 8,842,320 10,866,544 6,552,608 5,909,507 Total Pension Liability - Beginning 174,580,366 165,738,046 154,871,502 148,318,894 142,409,387 Total Pension Liability - Ending (a)180,195,487$ 174,580,366$ 165,738,046$ 154,871,502$ 148,318,894$ Plan Fiduciary Net Position Net Plan to Plan Resource Movement -$-$-$-$-$ Contributions - Employer 3,156,662 5,458,992 3,928,187 3,945,147 2,437,119 Contributions - Employee 1,203,583 1,112,562 1,099,592 1,095,898 1,055,769 Net Investment Income 13,765,459 8,605,145 (11,584,615) 28,707,870 6,185,108 Benefit Payments, Including Refunds of Employee Contributions (9,266,810) (8,834,436) (8,151,116) (7,304,947) (7,017,816) Administrative Expenses (118,822) (102,793) (96,301) (128,139) (177,337) Other Changes in Fiduciary Net Position ----- Net Change in Plan Fiduciary Net Position 8,740,072 6,239,470 (14,804,253) 26,315,829 2,482,843 Plan Fiduciary Net Position - Beginning 146,026,421 139,786,951 154,591,204 128,275,375 125,792,532 Plan Fiduciary Net Position - Ending (b)154,766,493 146,026,421 139,786,951 154,591,204 128,275,375 Plan Net Pension Liability/(Asset) - Ending (a)-(b)25,428,994$ 28,553,945$ 25,951,095$ 280,298$ 20,043,519$ Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 85.89%83.64%84.34%99.82%86.49% Covered Payroll 14,893,185$ 14,539,529$ 14,148,052$ 13,768,586$ 13,383,715$ Plan Net Pension Liability/(Asset) as a Percentage of Covered Payroll 170.74%196.39%183.43%2.04%149.76% Notes to Schedule: Changes in Benefit Terms:The figures above generally include any liability impact that may have resulted from voluntary benefit changes that occurred on or before the Measurement Date.However,offers of Two Years Additional Service Credit (a.k.a.Golden Handshakes)that occurred after the Valuation Date are not included in the figures above,unless the liability impact is deemed to be material by the plan actuary. Changes in Assumptions:There were no assumption changes in 2023 or 2024.Effective with the June 30, 2021 valuation date (June 30, 2022 measurement date),the accounting discount rate was reduced from 7.15%to 6.90%.In determining the long-term expected rate of return,CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows.In addition, demographic assumptions and the price inflation assumption were changed in accordance with the 2021 CalPERS Experience Study and Review of Actuarial Assumptions.The accounting discount rate was 7.15%for measurement date June 30, 2017 through June 30, 2021,and 7.65% for measurement dates June 30, 2015 through June 30, 2016. Schedule of Changes in the Net Pension Liability and Related Ratios Last Ten Years June 30, 2025 Measurement Period: June 30 2019 2018 2017 2016 2015 Total Pension Liability Service Cost 2,586,911$ 2,528,271$ 2,556,902$ 2,298,617$ 2,250,860$ Interest 9,638,674 9,168,092 8,836,284 8,575,275 8,229,312 Changes in Benefit Terms ----- Changes in Assumptions -(1,312,634)7,308,486 -(1,996,819) Difference Between Expected and actual Experience 1,183,213 461,917 (1,208,593) (613,440) (981,200) Benefit Payments, including Refunds of Employee Contributions (6,658,719) (5,995,949) (5,779,040) (5,448,218) (5,288,251) Net Change in Total Pension Liability 6,750,079 4,849,697 11,714,039 4,812,234 2,213,902 Total Pension Liability - Beginning 135,659,308 130,809,611 119,095,572 114,283,338 112,069,436 Total Pension Liability - Ending (a)142,409,387$ 135,659,308$ 130,809,611$ 119,095,572$ 114,283,338$ Plan Fiduciary Net Position Net Plan to Plan Resource Movement -$(203)$-$-$-$ Contributions - Employer 36,706,983 4,441,517 4,105,810 3,819,770 3,557,098 Contributions - Employee 1,019,255 1,015,008 1,014,329 1,010,337 1,007,023 Net Investment Income 7,516,686 6,949,676 8,149,097 369,214 1,601,760 Benefit Payments, Including Refunds of Employee Contributions (6,658,719) (5,995,949) (5,779,040) (5,448,218) (5,288,251) Administrative Expenses (62,278) (126,575) (109,029) (45,185) (83,511) Other Changes in Fiduciary Net Position 203 (240,367) --- Net Change in Plan Fiduciary Net Position 38,522,130 6,043,107 7,381,167 (294,082) 794,119 Plan Fiduciary Net Position - Beginning 87,270,402 81,227,295 73,846,128 74,140,210 73,346,091 Plan Fiduciary Net Position - Ending (b)125,792,532 87,270,402 81,227,295 73,846,128 74,140,210 Plan Net Pension Liability/(Asset) - Ending (a)-(b)16,616,855$ 48,388,906$ 49,582,316$ 45,249,444$ 40,143,128$ Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 88.33%64.33%62.10%62.01%64.87% Covered Payroll 12,892,655$ 12,969,485$ 12,829,415$ 12,767,963$ 12,451,513$ Plan Net Pension Liability/(Asset) as a Percentage of Covered Payroll 128.89%373.10%386.47%354.40%322.40% Notes to Schedule: Changes in Assumptions:There were no assumption changes in 2023 or 2024.Effective with the June 30, 2021 valuation date (June 30, 2022 measurement date),the accounting discount rate was reduced from 7.15%to 6.90%.In determining the long-term expected rate of return,CalPERS took into account long-term market return expectations as well as the expected pension fund cash flows.In addition, demographic assumptions and the price inflation assumption were changed in accordance with the 2021 CalPERS Experience Study and Review of Actuarial Assumptions.The accounting discount rate was 7.15%for measurement date June 30, 2017 through June 30, 2021, and 7.65% for measurement dates June 30, 2015 through June 30, 2016. Changes in Benefit Terms:The figures abovegenerally include any liability impact that may have resulted from voluntary benefit changes that occurred on or before the Measurement Date.However,offers of Two Years Additional Service Credit (a.k.a.Golden Handshakes) that occurred after the Valuation Date are not included in the figures above,unless the liability impact is deemed to be material by the plan actuary. Schedule of Plan Contributions Last Ten Years June 30, 2025 Actuarially Determined Contributions in Contribution Covered-Contributions as a Fiscal Contribution Relation to the Deficiency Employee Percentage of Covered- Year (ADC)(1)ADC(1)(Excess)Payroll(2)Employee Payroll(2) 2016 3,819,770$ (3,819,770)$ -$12,767,963$ 29.92% 2017 4,105,810 (4,105,810)-12,829,415 32.00% 2018 4,441,517 (4,441,517)-12,969,485 34.25% 2019 4,906,983 (36,706,983) (31,800,000) 12,892,655 284.71% 2020 2,437,119 (2,437,119)-13,383,715 18.21% 2021 2,765,952 (3,965,952)(1,200,000)13,768,586 28.80% 2022 2,971,785 (3,960,785)(989,000)14,148,052 28.00% 2023 3,163,698 (5,477,698)(2,314,000)14,539,529 37.67% 2024 3,095,172 (3,095,172)-14,893,185 20.78% 2025 3,891,166 -3,891,166 16,088,022 0.00% Notes to Schedule: Actuarial Cost Method Entry Age Actuarial Cost Method Amortization Method/Period Varies by date established and source. May be level dollar or level percent of pay and may include direct rate smoothing. Asset Valuation Method Fair value of assets Discount Rate 6.80% (net of investment and administrative expenses) Inflation 2.30% Salary Increases Varies by category, entry age, and duration of service. Payroll Growth 2.80% (1)Employers are assumed to make contributions equal to the actuarially determined contributions.However,some employers may choose to make additional contributions toward their unfunded liability.Employer contributions for such plans exceed the actuarially determined contributions. (2)Includes three year’s payroll growth assumption using 2.80% payroll growth assumption for fiscal year 2024; 2.75% payroll growth assumption for fiscal years 2018-2023; and 3.00% payroll growth assumption for fiscal years 2015-2017. The actuarial methods and assumptions used to set the actuarially determined contributions for Fiscal Year 2024-25 were from the June 30, 2022 public agency valuations. Also note, that some of the data from prior years were updated with the most current available information. Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards Board of Directors Otay Water District Spring Valley, California Independent Auditor’s Report We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of Otay Water District (“the District”), as of and for the year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise the District’s basic financial statements, and have issued our report thereon dated October 29, 2025. Report on Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the District's internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the District’s internal control. Accordingly, we do not express an opinion on the effectiveness of the District’s internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that have not been identified. Attachment C Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the District's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the District’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose. Irvine, California October 29, 2025 To the Board of Directors Otay Water District Spring Valley, California We have audited the financial statements of the Otay Water District (“the District”)as of and for the year ended June 30, 2025 and have issued our report thereon dated October 29, 2025. Professional standards require that we advise you of the following matters relating to our audit. Our Responsibility in Relation to the Financial Statement Audit As communicated in our engagement letter dated March 26, 2025, our responsibility, as described by professional standards, is to form and express an opinion about whether the financial statements that have been prepared by management with your oversight are presented fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America. Our audit of the financial statements does not relieve you or management of your respective responsibilities. Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain reasonable, rather than absolute, assurance about whether the financial statements are free of material misstatement. An audit of financial statements includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control over financial reporting. Accordingly, as part of our audit, we considered the internal control of the District solely for the purpose of determining our audit procedures and not to provide any assurance concerning such internal control. We are also responsible for communicating significant matters related to the audit that are, in our professional judgment, relevant to your responsibilities in overseeing the financial reporting process. However, we are not required to design procedures for the purpose of identifying other matters to communicate to you. Planned Scope and Timing of the Audit We conducted our audit consistent with the planned scope and timing we previously communicated to you. Compliance with All Ethics Requirements Regarding Independence The engagement team, others in our firm, as appropriate and our firm, have complied with all relevant ethical requirements regarding independence under the American Institute of Certified Public Accountants (“AICPA”) independence standards, contained in the Code of Professional Conduct. We identified self-review threats to independence as a result of non-attest services provided. Those non-attest services included the preparation of the financial statements. To mitigate the risk, management has compared the draft financial statements and footnotes to the underlying accounting records to verify accuracy and has reviewed a disclosure checklist to ensure footnotes are complete and accurate. Attachment D Additionally, we utilize a quality control reviewer to perform a second review of the financial statements. We believe these safeguards are sufficient to reduce the independence threats to an acceptable level. Significant Risks Identified We have identified the following significant risks: Other Post Employment Benefits (OPEB) and Health Reimbursement Arrangement Implementation of GASB Statement No. 101: Compensated Absences Qualitative Aspects of the Entity’s Significant Accounting Practices Significant Accounting Policies Management has the responsibility to select and use appropriate accounting policies. A summary of the significant accounting policies adopted by the District is included in Note 1 to the financial statements. As described in Note 1 to the financial statements, during the year, the entity changed its method of accounting for compensated absences by adopting Government Accounting Standards Board (GASB) Statement No. 101. No matters have come to our attention that would require us, under professional standards, to inform you about (1) the methods used to account for significant unusual transactions and (2) the effect of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative guidance or consensus. Significant Accounting Estimates Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s current judgments. Those judgments are normally based on knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ markedly from management’s current judgments. The most sensitive accounting estimates affecting the financial statements are: Management’s estimate of which capital projects represent ordinary maintenance activities necessary to keep an asset operational for its originally intended useful life versus significant improvement, replacement, and life extending projects that should be capitalized as additions to capital assets is based on management’s knowledge of the assets and their useful lives. We evaluated the key factors and assumptions used to develop the amounts added to capital assets in determining that it is reasonable in relation to the financial statements taken as a whole. Management’s estimate of transactions related to net pension liabilities based on actuarial information. We evaluated the key factors and assumptions used to develop the amounts by the actuary and determined that it is reasonable in relation to the financial statements taken as a whole. Management’s estimate of transactions related to net OPEB liabilities based on actuarial information. We evaluated the key factors and assumptions used to develop the amounts by the actuary and determined that it is reasonable in relation to the financial statements taken as a whole. Financial Statement Disclosures Certain financial statement disclosures involve significant judgment and are particularly sensitive because of their significance to financial statement users. The most sensitive disclosures affecting the District’s financial statements were: The disclosure of pensions in note 7 of the financial statements. The disclosure of OPEB in note 8 to the financial statements. The financial statement disclosures are neutral, consistent, and clear. Significant Unusual Transactions For purposes of this communication, professional standards require us to communicate to you significant unusual transactions identified during our audit.There were no significant unusual transactions identified as a result of our audit procedures. Identified or Suspected Fraud We have not identified or have obtained information that indicates that fraud may have occurred. Significant Difficulties Encountered during the Audit We encountered no significant difficulties in dealing with management relating to the performance of the audit. Uncorrected and Corrected Misstatements For purposes of this communication, professional standards also require us to accumulate all known and likely misstatements identified during the audit, other than those that we believe are trivial, and communicate them to the appropriate level of management. Further, professional standards require us to also communicate the effect of uncorrected misstatements related to prior periods on the relevant classes of transactions, account balances or disclosures, and the financial statements as a whole and each applicable opinion unit.There were no uncorrected misstatements that we identified as a result of our audit procedures. In addition, professional standards require us to communicate to you all material, corrected misstatements that were brought to the attention of management as a result of our audit procedures. There were no material misstatements that we identified as a result of our audit procedures. Disagreements with Management For purposes of this letter, professional standards define a disagreement with management as a matter, whether or not resolved to our satisfaction, concerning a financial accounting, reporting, or auditing matter, which could be significant to the District’s financial statements or the auditor’s report. No such disagreements arose during the course of the audit. Circumstances that Affect the Form and Content of the Auditor’s Report For purposes of this letter, professional standards require that we communicate any circumstances that affect the form and content of our auditor’s report. There were none. Representations Requested from Management We have requested certain written representations from management dated October 24, 2025. Management’s Consultations with Other Accountants In some cases, management may decide to consult with other accountants about auditing and accounting matters. Management informed us that, and to our knowledge, there were no consultations with other accountants regarding auditing and accounting matters. Other Significant Matters, Findings, or Issues In the normal course of our professional association with the District, we generally discuss a variety of matters, including the application of accounting principles and auditing standards, significant events or transactions that occurred during the year,operating and regulatory conditions affecting the entity, and operational plans and strategies that may affect the risks of material misstatement. None of the matters discussed resulted in a condition to our retention as the District’s auditors. Restriction on Use This report is intended solely for the information and use of the Board of Directors and management of the District and is not intended to be and should not be used by anyone other than these specified parties. Irvine, California October 29, 2025 Otay Water District Spring Valley, California INDEPENDENT ACCOUNTANT’S REPORT We have performed the procedures enumerated below, in reviewing the Otay Water District’s (“the District”) compliance with the requirements of the Investment Policy as such requirements apply to the Investments of the District for the period July 1, 2024, through June 30, 2025. The District is responsible for compliance with the requirements as noted in the referenced Investment Policies. The District has agreed to acknowledge that the procedures performed are appropriate to meet the intended purpose of determining compliance by the District with respect to the Investment Policy for the period July 1, 2024, through June 30, 2025.This report may not be suitable for any other purpose. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The procedures performed, and the results of those procedures are as follows: 1.Obtain a copy of the District’s investment policy and determine that it is in effect for the fiscal year ended June 30, 2025. Results:No exceptions were noted as a result of applying the above procedure. 2.Select 4 investments held at year end and determine if they are allowable investments under the District’s Investment Policy. Results:No exceptions were noted as a result of applying the above procedure. 3.For the four investments selected in #2 above, determine if they are held by a third-party custodian designated by the District. Results:No exceptions were noted as a result of applying the above procedure. 4.Confirm the par or original investment amount and market value for the four investments selected above with the custodian or issuer of the investments. Results:No exceptions were noted as a result of applying the above procedure. Attachment E Otay Water District Spring Valley, California Page 2 5.Select two investment earnings transactions that took place during the year and recompute the earnings to determine if the proper amount was received. Results:No exceptions were noted as a result of applying the above procedure. 6.Trace amounts received for transactions selected at #5 above into the District’s bank accounts. Results:No exceptions were noted as a result of applying the above procedure. 7.Select five investment transactions (buy, sell, trade or maturity) occurring during the year under review and determine that the transactions are permissible under the District’s investment policy. Results:No exceptions were noted as a result of applying the above procedure. 8.Review the supporting documents for the five investments selected at #7 above to determine if the transactions were appropriately recorded into the District’s general ledger. Results:No exceptions were noted as a result of applying the above procedure. We were engaged by Otay Water District to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to and did not conduct an examination or review engagement, the objective of which would be the expression of an opinion or conclusion, respectively, on the District’s accounting records. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures other matters might have come to our attention that would have been reported to you. We are required to be independent of the District and to meet our other ethical responsibilities in accordance with the relevant ethical requirement related to our agreed-upon procedures engagement. This report is intended solely for the information and use of management of Otay Water District and is not intended to be and should not be used by anyone other than those specified parties. Irvine, California October 29, 2025 STAFF REPORT TYPE MEETING: Regular Board MEETING DATE: November 5, 2025 SUBMITTED BY: Andrea Carey, Customer Service Manager PROJECT: DIV. NO. All APPROVED BY: Joseph R. Beachem, Chief Financial Officer Jose Martinez, General Manager SUBJECT: Adopt Ordinance No. 602 to Approve the Addition of a Fire Flow Fee and the Proposed Changes to Various Fees and Charges by Amending Appendix A and Section 38, Service for Fire Protection Systems, of the District’s Code of Ordinances to be Effective January 1, 2026 GENERAL MANAGER’S RECOMMENDATION: That the Board adopt Ordinance No. 602 to add a fire flow fee and approve the proposed changes to various fees and charges by amending Appendix A and Section 38, Service for Fire Protection Systems, of the District’s Code of Ordinances to be effective January 1, 2026. COMMITTEE ACTION: See Attachment A. PURPOSE: To present to the Board, for consideration, the addition of a fire flow fee and proposed changes to various fees and charges listed in Appendix A, and to request that the Board approve these changes by adopting Ordinance No. 602, amending Section 38, Service for Fire Protection Systems, and Appendix A of the District’s Code of Ordinances. ANALYSIS: Periodically, the District analyzes fees to ensure all costs are recovered from the individual(s) benefiting from the service performed. In addition, staff reviews common deposits required by AGENDA ITEM 4 customers to verify if they are appropriate for the current period. The previous review was completed in 2023, therefore, sufficient time has passed to warrant another evaluation. Staff has prepared a cost analysis of various District fees and charges as outlined in Appendix A, and updates are recommended. The following sections will further explain these recommendations. Proposed Fee and Charge Changes For each fee, the amount of staff time spent on the activity was determined. Pertinent staff members were consulted to establish the average time spent completing each task in the field as well as any time spent in the office that was directly related to completing each task. Additionally, payroll personnel were asked to provide fully loaded labor rates. Using these labor rates and the average time spent completing a specific task, staff then determined the overall cost required to perform each service. To ensure financial equity to all rate payers, staff is recommending changes to the following fees and charges effective January 1, 2026, as shown in the table below. Code Numbers Item Current Fees Proposed Fees 23.04 Backflow Certification Second Notification $10.00 Remove Third Notification $25.00 $60.00 Third Notification ( hand delivered) $60.00 $110.00 Reconnection $60.00 Remove Reconnection (if technician present) $180.00 $230.00 Initial Filing Fee (New applicants for addition to the list of approve backflow prevention device testers) $25.00 $40.00 Renewal Filing Fee (to remain on the list of approved backflow prevention device testers) $10.00 Remove 31.03 A.4. Temporary Meter Install & Removal .75"-4" (on hydrant) $240.00 $280.00 4"-6" $960.00 $1,200.00 31.03 A.5. Temporary Meter Move Fee - includes backflow certification .75"-4" (on hydrant) $180.00 $210.00 4"-6" $960.00 $1,200.00 34.02 C Meter Lock Charge $60.00 $70.00 38.06 A Fire Flow Fee New $600.00 72.04 A.1. Locking or Removing Damaged or Tampered Meters Pull and Reset Meter .75"-2" $250.00 $310.00 Broken Lock/Locking Device .75"-1" $80.00 $95.00 Policy 54 Lien Processing Fee $55.00 $60.00 Policy 54 Delinquent Tax Roll Fee $45.00 $50.00 The fees and charges above are assessed to the customer’s water account after the work is performed. Staff has consulted with the District’s General Counsel who confirmed these fees are not subject to Proposition 218 noticing requirements. Most of the proposed fee changes are directly related to the increase in labor costs that have occurred since these fees were last updated. Changes to District practices, which are explained further in this document, also contributed to some of the proposed changes to fees. Additional information regarding the fees and charges is discussed below. Backflow Fees Staff are proposing the removal of the second notification fee. Backflow devices must be tested annually, and test reports must be submitted by the due date provided to the customer. Customers are notified of the due date 30 days in advance via mailed notice. If the test result is not submitted by the due date, a second notice is mailed, granting an additional 14 days to complete the test. This notice is mailed through the District’s third-party bill print vendor, Infosend. The cost associated with printing and mailing this notice is de minimis, therefore, staff proposes eliminating the second notification fee. If, after the 14-day extension, the District has still not received a passing test report, a third notice is mailed notifying the customer of impending disconnection. Staff is proposing an increase to the fee assessed for the mailing of this third notice to reflect higher labor costs and the additional time required to manage these accounts. In addition to the mailed notice, staff follow up with an email and phone call. The average time spent managing these delinquent accounts was used to calculate the proposed revised fee. As a final step prior to disconnection, staff hand-deliver a notice to the site to ensure the on-site manager is aware of the impending disconnection and can take the necessary steps to bring the backflow device into compliance. Although this can be time-consuming for District staff, this process has proven highly effective in minimizing disconnections. The proposed increase for this action reflects updated calculations of staff time and labor costs. If a customer fails to respond after these notifications, meter service is disconnected. Based on current District practices, staff recommend removing the existing reconnection fee of $60 because it is not applicable in reconnection of backflow as this process is not handled in the same manner as non-payment. Instead, staff recommends only listing one reconnection fee that is applicable for all backflow reconnections and updating the fee from $180 to $230. When a service is disconnected for backflow non-compliance, a Meter Services representative will lock the service and must return to the property to meet the tester and observe a passing test before reconnection. Given the total time spent on this process and the staff involved, the updated fee ensures full cost recovery of this effort. The last fee updates in this section are related to the approved backflow testers list. The District requires customers to use a District-approved backflow tester to test their backflow devices. The District recently transitioned to an online backflow reporting portal, SwiftComply. With this transition, the District no longer manually tracks backflow tester certifications or gauge calibrations; therefore, an official renewal requirement for testers is no longer necessary. Staff propose eliminating this fee. New testers who wish to perform testing within the District will still be required to apply, and the initial filing fee has been updated to reflect current labor costs. Temporary Meter Fees Temporary meters are meters used for construction purposes. The majority of these are 2½” meters attached to District fire hydrants (see photo below). Each temporary meter requires a backflow device to be tested and installed at the time the meter is set. District staff installs and removes all temporary meters and backflow devices for these 2½” meters. Staff is proposing an increase to the installation fee from $240 to $280 and to the move fee for the hydrant meters from $180 to $210, directly related to the increase in labor costs. On occasion, developers require a larger flow of water and must use a regular 4” or 6” meter (see photo on page 5). The installation of these larger meters is much more complex and requires two staff members but does not include backflow testing, as the customer is responsible for installing and testing the backflow device for these larger meters. The proposed fee increase from $960 to $1200 for these larger temporary meters is directly related to labor cost increases. Standard 2½” temporary meter/backflow device attached to hydrant for construction purposes. Larger 6” temporary meter installed for construction purposes. Lock Fees The meter lock charge is billed to customers whose service has been disconnected for non-payment. The District locks approximately 150- 200 meters per month. To determine the appropriate fee for disconnection and reconnection due to non-payment, staff analyzed the costs associated with locking and unlocking an account. Prior to locking a meter, Customer Service staff review each account on the day’s lock list. The final list is sent to the meter reading team. A meter reader then visits each property to turn off service and place a lock on the meter, along with a tag notifying the customer that the service has been interrupted and instructing them to call the District. The lock process takes approximately 15 minutes per account. To unlock the meter, the customer must pay the past-due amount. A Customer Service Representative verifies payments made throughout the day to locked accounts and creates service orders to unlock the meters for accounts that were paid. The meter reading team then returns to the property to unlock the meter. The unlock process takes approximately 20 minutes per account. Based on the average time of 35 minutes per account and the associated labor costs, staff is proposing an increase from $60 to $70. Staff completed a survey of neighboring agencies’ lock fees and the results are shown in the table on the following page. Water Agency Lock Fee Padre Dam Municipal Water District $60 Helix Water District $64 Sweetwater Authority $85 Although not required by law, the District will be notifying all customers in December, via a message on their water bill, of the lock fee increase. Pull Meter and Broken Lock Fees If a customer has been disconnected and tampers with the lock on their meter, staff will relock the meter and charge a broken lock fee. This fee recovers the cost of the broken lock and staff time associated with investigating the incident and relocking the meter. The proposed increase is only associated with increased labor costs as the cost of the lock remains the same. If a customer breaks the lock more than once, staff will pull the meter and install a locking device at the service line. The customer must pay the pull and reset meter fee and all past due charges to have the meter reinstalled. When a meter is pulled, a letter is mailed to the property and the property owner (if different from the account holder) explaining the meter has been pulled, the amount that must be paid for it to be reinstalled, and that any further tampering of the service could result in additional fines and possible prosecution. The increased cost to pull and reset the meter is due to increased labor costs. Lien Processing and Delinquent Tax Roll Fees California Water Code 72102 allows water districts to file liens with the County for unpaid water and sewer charges. In 2024, the District filed 17 liens. Staff is required to send an intent to lien letter 30 days prior to filing the lien with the County. The lien processing fee offsets staff time associated with this process. In addition to filing liens on the delinquent owner, staff sends delinquent owner account balances to the County of San Diego’s tax roll annually. These balances are then collected through the property’s tax bill and reimbursed to Otay. In 2025, the District sent $49,529 from 104 delinquent accounts to the County for collection. The delinquent tax roll fee covers the costs associated with identifying, noticing, and submitting these accounts to the County. The proposed increases to both of these fees are directly related to labor cost increases. Fire Flow Fee Currently, fire flow analysis is provided upon request at no cost to the requester. The District’s calibrated hydraulic model is used to provide fire flow pressure data; however, the work required to provide specific data is not currently recovered from the individual requester, even though the requester is the beneficiary of the information. The District model is used for internal purposes such as facility outages, planning for growth, and emergency scenarios. The cost of maintaining the model is excluded from the fire flow fee. The proposed fee of $600 is based on the average cost to provide the information. This fee is non-refundable. Fire flow analysis requiring the addition of new infrastructure to the model will be charged at actual costs incurred. No fee will be charged for fire flow requests submitted by another public agency. Neighboring agencies do charge a fee for this service summarized in the table below. Water Agency Fire Flow Fee Padre Dam Municipal Water District $150 Helix Water District $297 Sweetwater Authority $600 FISCAL IMPACT: Joe Beachem, Chief Financial Officer Based on the average number of occurrences for each fee, staff estimates an increase of approximately $98,000 in annual revenue, which includes an estimated $33,000 of cost recovery from the fire flow fee. The proposed fee and charge changes reflect the current labor rates and time involved for each task. Updating these fees help to ensure the financial equity of all rate payers as the fees are only charged to those customers that require these services. STRATEGIC GOAL: This revenue source will help the District meet its fiscal responsibility to its ratepayers. LEGAL IMPACT: None. Attachments: A) Committee Action Form B) Ordinance No. 602 Exhibit 1 - Section 38 Strike-through Exhibit 2 – Section 38 Proposed Exhibit 3 - Appendix A Strike-through Exhibit 4 - Appendix A Proposed ATTACHMENT A SUBJECT/PROJECT: Adopt Ordinance No. 602 to Approve the Addition of a Fire Flow Fee and the Proposed Changes to Various Fees and Charges by Amending Appendix A and Section 38, Service for Fire Protection Systems, of the District’s Code of Ordinances to be Effective January 1, 2026 COMMITTEE ACTION: 1 ORDINANCE NO. 602 AN ORDINANCE OF THE BOARD OF DIRECTORS OF THE OTAY WATER DISTRICT AMENDING SECTION 38, SERVICE FOR FIRE PROTECTION SYSTEMS; AND APPENDIX A OF THE DISTRICT’S CODE OF ORDINANCES BE IT ORDAINED by the Board of Directors of Otay Water District that the District’s Code of Ordinances Section 38, Service for Fire Protection Systems; and Appendix A be amended as per Exhibits 1 and 3 (attached). NOW, THEREFORE, BE IT RESOLVED that the new proposed Section 38, Service for Fire Protection Systems (Exhibit 2) and Appendix A (Exhibit 4) of the Code of Ordinances shall become effective on January 1, 2026. PASSED, APPROVED AND ADOPTED by the Board of Directors of the Otay Water District at a regular meeting duly held this 5th day of November 2025, by the following roll call vote: AYES: NOES: ABSENT: ABSTAIN: ________________________________ President ATTEST: ________________________ District Secretary Attachment B 38-1 SECTION 38 SERVICE FOR FIRE PROTECTION SYSTEMS 38.01 SERVICE FOR COMMERCIAL OR INDUSTRIAL PURPOSES The District will provide water service for fire pro- tection systems for commercial or industrial developments within the District. Such service shall be available only in accordance with the rules and regulations provided in this Code. 38.02 RULES AND REGULATIONS FOR FIRE HYDRANT AND/OR FIRE SPRINKLER SERVICE FOR COMMERCIAL OR INDUSTRIAL PURPOSES, OR MULTI-FAMILY RESIDENCES, ON PRIVATE PROPERTY A.All fire hydrant and/or fire sprinkler service mains installed for commercial or industrial purposes, or multi-family residences, on privately-owned land shall be owned and maintained by the land owner; except for fire hydrants installed for developments where the District has accepted an easement for such service mains. B.Where service is provided for fire hydrant or fire sprinkler service on privately-owned land under Paragraph A above, the service shall be provided by the District at the property line of the land to be served. The property owner or developer shall be responsible to construct and maintain the remainder of the facilities to pro- vide fire protection to the property. Each such facilities installation shall include a reduced pressure principle detector backflow prevention assembly (RPDA) device installed in accordance with District specifications, and tested annually in accordance with Section 23.04.G. of this code. The RPDA device shall be installed on the fire main located on the customer side of the property line. C.Water furnished for fire hydrant or fire sprin- kler service shall be used only for fire protec- tion purposes. Water service for domestic, business, commercial or irrigation purposes, or multi-family residences, shall be furnished only after a meter or meters have been installed on Exhibit 1 38-2 laterals connected to the District main in the street pursuant to requirements of this Code. D.Upon application for installation of one or more fire service connections to an existing District water main, the customer shall pay such charges as shall be determined on the basis of actual costs incurred by the District in performing the work. At the time of application for the installation, the District will estimate the total costs to be incurred in performing the work. The customer shall deposit the estimated amount with the District prior to commencement of the work. The work shall be performed by the District under a District Water/Sewer Order. If actual costs incurred by the District are less than the amount deposited, the District shall refund the balance of the deposit to the customer. If the costs incurred exceed the amount deposited, the customer shall reimburse the District for the additional costs. Where the fire service connection is to be made to a water main to be constructed in a street by the owner or developer, the costs for such connection shall be covered under the standard developer's agreement with the District for installation of the water facilities for the development project. E.Water for fire protection services shall be pro- vided in accordance with District fees and charges set forth in Section 25.03 D.16.(c) of this Code. F.The District shall have no responsibility for the proper function of the fire service system or for the availability of water from its mains for fire protection in the event of emergency. While the District undertakes at all times to have adequate supplies available in its system for ordinary uses, it is not a guarantor of continual service in quantities adequate for all purposes however, and each customer shall specifically agree that as a condition of the fire service connection contracted for that the District shall incur no liability or be subject to any damages resulting from a failure or 38-3 malfunctioning of the fire sprinkler lateral or fire sprinkler system or from a lack of water in adequate quantity or pressure to make it fully effective. 38.03 SERVICES FOR INDIVIDUALLY METERED RESIDENTIAL FIRE PROTECTION When a single-family residential water meter is required to provide standby capacity for a fire sprinkler system, the capacity charge may be determined according to the size of the meter necessary to meet the water use requirements for the property. Additional capacity fees for upsizing the single-family residential meter to meet fire flow requirements will be waived. Standby capacity to provide water for a fire sprinkler system is required when (1) the fire sprinkler system is required by law, including any requirement imposed as a condition of development, permit, or occupancy, and (2) the fire chief, fire marshal, or building official of the city, county, or special district responsible for fire protection service to the property has a requirement for additional meter size due to fire protection. The determination, under this section, shall be made at the time the meter is first obtained, or at the time a meter is replaced with one of greater size due to the later installation of a fire protection system. When a separate meter is required, water for fire protection services shall be provided in accordance with District fees and charges set forth in Section 25.03 D.16.(c) of this Code. 38.04 FIRE SPRINKLER SERVICE FOR COMBINED MULTI & SINGLE FAMILY SITES A.Master metered residential sites that contain both multi-family and single-family units, as designated by the fire department with jurisdiction, shall design and install the multi-family portion of the project in accordance with Section 38.02 (A through F). Portions of the site designated as single-family 38-4 shall design and install fire sprinklers as required by the fire agency with jurisdiction. The District requires all single-family residential homes to abide by the rules set forth in Section 38.05. 38.05 RULES AND REGULATIONS FOR SINGLE-FAMILY RESIDENTIAL PROPERTIES WITH FIRE PROTECTION SYSTEMS A.The District requires single-family residential homes with fire sprinklers to include an above- grade double check valve backflow prevention assembly unless all the following criteria are met: 1.The user premises has only one service connection to the PWS; 2.A single service line onto the user premises exists that subsequently splits on the property for domestic flow and fire protection system flow, such that the fire protection system may be isolated from the rest of the user premises; 3.A single, water industry standard, water meter is provided to measure combined domestic flow and fire protection system flow; 4.The fire protection system is constructed of piping materials certified as meeting NSF/ANSI Standard 61; and 5.The fire protection system’s piping is looped within the structure and is connected to one or more routinely used fixtures (such as a water closet) to prevent stagnant water. B.The District highly encourages the use of a passive purge system, as described in section 38.05, for all new single-family residential sites. 38.06 FIRE FLOW TESTS A.The District’s calibrated hydraulic model is used to provide fire flow pressure data when Formatted: Indent: Hanging: 0.5" 38-5 requested by customers. Each request for fire flow letter shall be charged a Fire Flow Fee, as set forth in Appendix A, 38.06 A. This fee is non-refundable. Fire flow analysis requiring new infrastructure to be added to the model will be charged at actual costs incurred. No fee will be charged for a fire flow requested by another public agency. 38-1 SECTION 38 SERVICE FOR FIRE PROTECTION SYSTEMS 38.01 SERVICE FOR COMMERCIAL OR INDUSTRIAL PURPOSES The District will provide water service for fire pro- tection systems for commercial or industrial developments within the District. Such service shall be available only in accordance with the rules and regulations provided in this Code. 38.02 RULES AND REGULATIONS FOR FIRE HYDRANT AND/OR FIRE SPRINKLER SERVICE FOR COMMERCIAL OR INDUSTRIAL PURPOSES, OR MULTI-FAMILY RESIDENCES, ON PRIVATE PROPERTY A.All fire hydrant and/or fire sprinkler service mains installed for commercial or industrial purposes, or multi-family residences, on privately-owned land shall be owned and maintained by the land owner; except for fire hydrants installed for developments where the District has accepted an easement for such service mains. B.Where service is provided for fire hydrant or fire sprinkler service on privately-owned land under Paragraph A above, the service shall be provided by the District at the property line of the land to be served. The property owner or developer shall be responsible to construct and maintain the remainder of the facilities to pro- vide fire protection to the property. Each such facilities installation shall include a reduced pressure principle detector backflow prevention assembly (RPDA) device installed in accordance with District specifications, and tested annually in accordance with Section 23.04.G. of this code. The RPDA device shall be installed on the fire main located on the customer side of the property line. C.Water furnished for fire hydrant or fire sprin- kler service shall be used only for fire protec- tion purposes. Water service for domestic, business, commercial or irrigation purposes, or multi-family residences, shall be furnished only after a meter or meters have been installed on Exhibit 2 38-2 laterals connected to the District main in the street pursuant to requirements of this Code. D. Upon application for installation of one or more fire service connections to an existing District water main, the customer shall pay such charges as shall be determined on the basis of actual costs incurred by the District in performing the work. At the time of application for the installation, the District will estimate the total costs to be incurred in performing the work. The customer shall deposit the estimated amount with the District prior to commencement of the work. The work shall be performed by the District under a District Water/Sewer Order. If actual costs incurred by the District are less than the amount deposited, the District shall refund the balance of the deposit to the customer. If the costs incurred exceed the amount deposited, the customer shall reimburse the District for the additional costs. Where the fire service connection is to be made to a water main to be constructed in a street by the owner or developer, the costs for such connection shall be covered under the standard developer's agreement with the District for installation of the water facilities for the development project. E. Water for fire protection services shall be pro- vided in accordance with District fees and charges set forth in Section 25.03 D.16.(c) of this Code. F. The District shall have no responsibility for the proper function of the fire service system or for the availability of water from its mains for fire protection in the event of emergency. While the District undertakes at all times to have adequate supplies available in its system for ordinary uses, it is not a guarantor of continual service in quantities adequate for all purposes however, and each customer shall specifically agree that as a condition of the fire service connection contracted for that the District shall incur no liability or be subject to any damages resulting from a failure or 38-3 malfunctioning of the fire sprinkler lateral or fire sprinkler system or from a lack of water in adequate quantity or pressure to make it fully effective. 38.03 SERVICES FOR INDIVIDUALLY METERED RESIDENTIAL FIRE PROTECTION When a single-family residential water meter is required to provide standby capacity for a fire sprinkler system, the capacity charge may be determined according to the size of the meter necessary to meet the water use requirements for the property. Additional capacity fees for upsizing the single-family residential meter to meet fire flow requirements will be waived. Standby capacity to provide water for a fire sprinkler system is required when (1) the fire sprinkler system is required by law, including any requirement imposed as a condition of development, permit, or occupancy, and (2) the fire chief, fire marshal, or building official of the city, county, or special district responsible for fire protection service to the property has a requirement for additional meter size due to fire protection. The determination, under this section, shall be made at the time the meter is first obtained, or at the time a meter is replaced with one of greater size due to the later installation of a fire protection system. When a separate meter is required, water for fire protection services shall be provided in accordance with District fees and charges set forth in Section 25.03 D.16.(c) of this Code. 38.04 FIRE SPRINKLER SERVICE FOR COMBINED MULTI & SINGLE FAMILY SITES A. Master metered residential sites that contain both multi-family and single-family units, as designated by the fire department with jurisdiction, shall design and install the multi-family portion of the project in accordance with Section 38.02 (A through F). Portions of the site designated as single-family 38-4 shall design and install fire sprinklers as required by the fire agency with jurisdiction. The District requires all single-family residential homes to abide by the rules set forth in Section 38.05. 38.05 RULES AND REGULATIONS FOR SINGLE-FAMILY RESIDENTIAL PROPERTIES WITH FIRE PROTECTION SYSTEMS A. The District requires single-family residential homes with fire sprinklers to include an above- grade double check valve backflow prevention assembly unless all the following criteria are met: 1. The user premises has only one service connection to the PWS; 2. A single service line onto the user premises exists that subsequently splits on the property for domestic flow and fire protection system flow, such that the fire protection system may be isolated from the rest of the user premises; 3. A single, water industry standard, water meter is provided to measure combined domestic flow and fire protection system flow; 4. The fire protection system is constructed of piping materials certified as meeting NSF/ANSI Standard 61; and 5. The fire protection system’s piping is looped within the structure and is connected to one or more routinely used fixtures (such as a water closet) to prevent stagnant water. B. The District highly encourages the use of a passive purge system, as described in section 38.05, for all new single-family residential sites. 38.06 FIRE FLOW TESTS A. The District’s calibrated hydraulic model is used to provide fire flow pressure data when 38-5 requested by customers. Each request for fire flow letter shall be charged a Fire Flow Fee, as set forth in Appendix A, 38.06 A. This fee is non-refundable. Fire flow analysis requiring new infrastructure to be added to the model will be charged at actual costs incurred. No fee will be charged for a fire flow requested by another public agency. Section #Code #Fee Description Meter Size 9 9.04 A.1.District Annexation Processing Fee $1,068.96 9.04 B. Annexation Fees for Water Annexations into Otay Water District Boundaries Districtwide Annexation Fee 3/4"$2,797.94 1"$6,994.85 1-1/2"$13,989.70 2"$22,383.52 3"$44,767.04 4"$69,948.50 6"$139,897.00 8"$223,835.20 10"$321,763.10 9.04 C.4. Annexation Fees for Annexations to Sewer Improvement Districts per EDU $1,530.59 10 10.01 Waiver Request $50.00 23 23.04 Backflow Certification - Second Notification $10.00 - Third Notification $25.00 - Third Notification (hand delivered)$60.00 - Reconnection $60.00 - Reconnection (if test performed with technician present)$180.00 $25.00 - Renewal Filing Fee (to remain on list of approved backflow prevention device testers)Annually $10.00 25 25.03 A. Set-up Fees for Accounts $15.00 25 25.03 B. Monthly MWD & CWA Fixed System Charges (1)3/4"$23.89 1"$39.82 1-1/2"$79.60 2"$127.34 3"$278.58 4"$501.45 6"$1,114.34 8"$1,910.26 10"$3,024.59 (1)Water billed beginning January 1, 2026, which may include water used December 2025. Charges - Initial Filing Fee (New applicants for addition to the list of approved backflow prevention device testers) Appendix A Otay Water District Exhibit 3 Section #Code #Fee Description Meter Size Charges 25 25.03 C.1. Domestic Residential Monthly Fixed System Charges (1)3/4" $22.88 1" $28.45 1-1/2" $42.70 2" $59.55 25 25.03 C.2. Multi-Residential Monthly Fixed System Charges (1)3/4" $21.11 1" $25.50 1-1/2" $36.79 2" $50.11 3" $105.83 4" $178.32 6" $349.92 8" $540.25 10" $828.43 25 25.03 C.3. Business and Commercial Monthly Fixed System Charges (1)3/4" $23.08 1" $28.77 1-1/2" $43.33 2" $60.54 3" $128.65 4" $219.41 6" $441.22 8" $696.80 10" $1,076.28 25 25.03 C.4.3/4" $20.42 1" $24.35 1-1/2" $34.52 2" $46.46 3" $97.82 4" $163.93 6" $317.90 8" $485.42 10"$741.58 25 25.03 C.5.3/4" $21.48 1" $26.13 1-1/2" $38.05 2" $52.15 3" $110.25 4" $186.28 6" $367.61 8" $570.63 10"$876.51 Publicly Owned Monthly Fixed System Charges (1) Non-Public Irrigation and Commercial Agriculture Monthly Fixed System Charges (1) (1) Water billed beginning January 1, 2026, which may include water used December 2025. Section #Code #Fee Description Meter Size Charges 25 25.03 C.6.Public Irrigation Monthly Fixed System Charges (1)3/4" $20.42 1" $24.35 1-1/2" $34.52 2" $46.46 3" $97.82 4" $163.93 25 25.03 C.7.3/4" $20.99 1" $25.29 1-1/2" $36.39 2" $49.48 3" $104.46 4" $175.87 6" $344.47 8" $530.95 10"$813.67 25 25.03 C.8.3/4" $42.75 1" $57.89 1-1/2" $96.30 2" $141.96 3" $311.13 4" $543.00 6" $1,130.33 8" $1,745.28 10" $2,859.05 25 25.03 D.1.(b) Domestic Residential Water Rates (1)Unit Charge 0-9 $6.66 10-12 $7.23 13 or more $8.03 25 25.03 D.2.(b) Multi-Residential Water Rates - Per Dwelling Unit (1)0-9 $6.61 10-12 $7.15 13 or more $7.41 25 25.03 D.3.(b) Business and Commercial Water Rates (1)All Units $7.00 25 25.03 D.4.(c) Non-Public Irrigation and Commercial Agriculture Using Potable Water Rates (1)All Units $8.06 25 25.03 D.5.(b) Publicly-Owned Water Rates (1)All Units $7.70 25 25.03 D.6.(b) Public Irrigation Water Rates (1)All Units $8.79 25 25.03 D.7.(b) Construction Water Rates (1)All Units $8.00 Construction Monthly Fixed System Charges (1) Recycled Monthly Fixed System Charges (1) (1) Water billed beginning January 1, 2026, which may include water used December 2025. Section #Code #Fee Description Meter Size Charges 25 25.03 D.8.(c)Recycled Non-Public Irrigation Water Rates (1)All Units $6.36 25 25.03 D.9.(c)Recycled Commercial Water Rates (1)All Units $5.84 25 25.03 D.10.(c)Recycled Public Irrigation Water Rates (1)All Units $6.48 25 25.03 D.11.(b) Potable Interim Business and Commercial Water Rates (1)All Units $14.00 25 25.03 D.12.(b) Potable Interim Non-Public Irrigation and Commercial Agriculture Water Rates (1)All Units $16.12 25 25.03 D.13.(b) Tank Trucks Water Rates (1)All Units $8.00 25 25.03 D.14.(c) Application Fee for Water Service Outside District Boundaries $500.00 25 25.03 D.14.(d) Water Rate for Service Outside District Boundaries (1)All Units $15.40 25 25.03 D.15.(b) Application Fee for Water Service Outside an Improvement District $275.00 25 25.03 D.15.(c) Water Rate for Service Outside Improvement District (1)All Units $15.40 25 25.03 D.16.(c) Fire Service Monthly Charge 3/4"$3.30 1"$3.38 1-1/2"$3.72 2"$4.27 3"$6.32 4"$9.81 6"$22.40 8"$44.10 10"$76.73 25 25.03 E.1.Energy Charges for Pumping Potable Water (1) Per 100 ft of lift over 450 ft per unit $0.092 25 25.03 E.2. Energy Charges for Pumping Recycled Water (1) Per 100 ft of lift over 450 ft per unit $0.099 (1) Water billed beginning January 1, 2026, which may include water used December 2025. Section #Code #Fee Description Meter Size Charges 25 25.04 A.Deposits for Non-Property Owners 3/4"$150.00 1"$250.00 1-1/2"$300.00 2"$450.00 3"$1,000.00 4"$1,350.00 6"$3,300.00 8"$7,000.00 10"$10,000.00 28 28.01 B.1.Capacity Fees and Zone Charge Districtwide Capacity Fee - All IDs excluding Triad 3/4" $14,745.27 1" $36,863.18 1-1/2" $73,726.35 2" $117,962.16 3" $235,924.32 4" $368,631.75 6" $737,263.50 8" $1,179,621.60 10" $1,695,706.05 - TRIAD 3/4" $11,058.95 1" $27,647.38 1 -1/2" $55,294.75 2" $88,471.60 3" $176,943.20 4" $276,473.75 6" $552,947.50 8" $884,716.00 10" $1,271,779.25 28 28.02 Installation and Water Meter Charges Meter Size Meter Cost Installation Total Meter Box/Vault (if Needed) - Potable (Non-Irrigation)3/4" x 7.5"$314.14 $149.08 $463.22 $126.56 3/4" x 9"$334.47 $149.08 $483.55 $126.56 1"$405.38 $149.08 $554.46 $126.56 1.5"$658.90 $149.08 $807.98 $286.91 2"$944.14 $149.08 $1,093.22 $286.91 3"$2,942.30 $897.57 $3,839.87 $5,117.99 4"$5,110.31 $897.57 $6,007.88 $5,117.99 6"$8,826.89 $1,417.78 $10,244.67 $5,117.99 8"$11,028.55 $2,174.03 $13,202.58 $7,342.12 10"$15,861.11 $2,174.03 $18,035.14 $7,342.12 Section #Code #Fee Description Meter Size Charges 28 28.02 Meter Cost Installation Total Meter Box/Vault (if Needed) - Potable/Recycled Irrigation 3/4" x 7.5"$314.14 $149.08 $463.22 $322.54 3/4" x 9"$334.47 $149.08 $483.55 $322.54 1"$405.38 $149.08 $554.46 $322.54 1.5"$658.90 $149.08 $807.98 $322.54 2"$944.14 $149.08 $1,093.22 $322.54 3"$2,036.37 $897.57 $2,933.94 $5,117.99 4"$3,964.50 $897.57 $4,862.07 $5,117.99 6"$7,137.39 $1,417.78 $8,555.17 $5,117.99 8"$9,508.28 $2,174.03 $11,682.31 $7,342.12 10"$13,492.97 $2,174.03 $15,667.00 $7,342.12 - Combined Fire and Domestic 4"$12,157.88 $897.57 $13,055.45 $5,117.99 6"$16,181.08 $1,417.78 $17,598.86 $5,117.99 8"$23,526.12 $2,174.03 $25,700.15 $7,342.12 10"$32,105.39 $2,174.03 $34,279.42 $7,342.12 31 31.03 A.1.Requirement of Deposit for Temporary Meters 3/4"$156.85 1"$184.78 1-1/2"$379.62 2"$2,865.00 4"$1,986.00 6"$2,465.00 - Construction Trailer Temporary Meter 2"$2,685.00 - Tank Truck Temporary Meter (Ordinance No. 372)2"$1,000.00 31 31.03 A.4.Temporary Meter Install & Removal 3/4" - 4" (on hydrant)$240.00 4" - 6"$960.00 8" - 10"Actual Cost 31 31.03 A.5. Temporary Meter Move Fee (includes backflow certification)3/4" - 4"(on hydrant)$180.00 4" - 6" $960.00 8" - 10"Actual Cost 33 33.07 A.Customer Request for Meter Test (Deposit)5/8", 3/4" & 1"$120.00 1-1/2" & 2 "$200.00 3" & Larger $400.00 34 34.01 D.2. Returned Check Charges $25.00 34 34.02 C Meter Lock Charge $60.00 38 38.06 A Fire Flow Fee $600.00 Installation and Water Meter Charges (continued) Section #Code #Fee Description Meter Size Charges 53 53.03 A.1.Sewer Capacity Fee within an ID $7,788.97 53 53.03 A.2.Sewer Capacity Fee per EDU outside an ID $10,774.03 53 53.03 B.1.Sewer Connection Fee - Russell Square $7,500.00 53 53.03 B.2.Monthly Sewer Service Charge - Russell Square $200.00 53 53.10 & 11 Set-up Fees for Accounts $15.00 Effective 1/1/26 Effective 1/1/27 Effective 1/1/28 Effective 1/1/29 Effective 1/1/30 53 53.10 Residential Sewer Rates (2) Rate multiplied by 3-year winter average units $3.92 $4.12 $4.53 $4.97 $5.46 53 53.10 Residential Monthly Fixed Sewer System Charges (2).75"$21.60 $22.72 $24.95 $27.40 $30.08 1"$33.32 $35.05 $38.49 $42.26 $46.40 53 53.10 A.4.Residential Sewer Without Consumption History .75"$51.04 $53.66 $58.97 $64.72 $71.08 53 53.10 B.2.Multi-Residential Sewer Rates (2) Rate multiplied by 3-year winter average units $3.92 $4.12 $4.53 $4.97 $5.46 53 53.10 B.2. Multi-Residential Monthly Fixed Sewer System Charges (2).75"$21.60 $22.72 $24.95 $27.40 $30.08 1"$33.32 $35.05 $38.49 $42.26 $46.40 1.5"$62.60 $65.86 $72.31 $79.40 $87.18 2"$97.74 $102.82 $112.90 $123.96 $136.11 3"$209.02 $219.89 $241.44 $265.10 $291.08 4"$373.02 $392.42 $430.87 $473.10 $519.46 6"$823.99 $866.84 $951.79 $1,045.06 $1,147.48 8" $1,409.68 $1,482.98 $1,628.32 $1,787.89 $1,963.10 10"$2,229.65 $2,345.59 $2,575.46 $2,827.85 $3,104.98(2) Sewer billed beginning January 1, 2026. Section #Code #Fee Description Meter Size Charges Effective 1/1/26 Effective 1/1/27 Effective 1/1/28 Effective 1/1/29 Effective 1/1/30 53 53.11 Commercial and Industrial Sewer Rates Rate multiplied by Low Strength $3.35 $3.52 $3.87 $4.25 $4.67 annual avg.Medium Strength $4.73 $4.98 $5.46 $6.00 $6.59 units High Strength $7.46 $7.85 $8.62 $9.46 $10.39 53 53.11 Commercial and Industrial Monthly Fixed Sewer System Charges (2).75"$21.60 $22.72 $24.95 $27.40 $30.08 1"$33.32 $35.05 $38.49 $42.26 $46.40 1.5"$62.60 $65.86 $72.31 $79.40 $87.18 2"$97.74 $102.82 $112.90 $123.96 $136.11 3"$209.02 $219.89 $241.44 $265.10 $291.08 4"$373.02 $392.42 $430.87 $473.10 $519.46 6"$823.99 $866.84 $951.79 $1,045.06 $1,147.48 8" $1,409.68 $1,482.98 $1,628.32 $1,787.89 $1,963.10 10"$2,229.65 $2,345.59 $2,575.46 $2,827.85 $3,104.98 60 60.03 Issuance of Availability Letters for Water and/or Sewer Service $75.00 72 72.04 A.1. Locking or Removing Damaged or Tampered Meters - To Pull and Reset Meter 3/4" - 2"$250.00 - Broken Curbstop or Tabs 3/4" - 1"Actual Cost - If Customer uses Jumper 3/4" - 1"Actual Cost - Broken Lock/Locking Device 3/4" - 1"$80.00 - Broken Curbstop or Tabs 1.5" - 2"Actual Cost - To Pull and Reset Meter 3"Actual Cost - To Pull and Reset Meter 4"Actual Cost - To Pull and Reset Meter 6"Actual Cost - To Pull and Reset Meter 8"Actual Cost - To Pull and Reset Meter 10"Actual Cost 72 72.05 D. Type I Fine - First Violation $100.00 - Second Violations $200.00 - Third or each additional violation of that same ordinance or requirement within a twelve-month period $500.00 (2) Sewer billed beginning January 1, 2026. Section #Code #Fee Description Meter Size Charges 72 72.05 D. Type II Fine $5,000.00 Type III Fine $500.00 Type IV Fine $500.00 State Water Code #71630 & Annual Board Resolution #4142 Water Availability/Standby Annual Special Assessment Charge $10.00 $30.00 $3.00 $3.00 State Water Code #71630 & Annual Board Resolution #4142 Sewer Availability/Standby Annual Special Assessment Charge $10.00 $30.00 Annual Board Resolution General Obligation Bond Annual Tax Assessment $0.005 Policies 5B Copies of Identifiable Public Records $0.20/page 54 Late Payment Charge 54 Lien Processing Fee $55.00 54 Delinquent Tax Roll Fee $45.00 54 Delinquency Mailed Notice $5.00 54 Delinquency Tag $25.00 Per acre for outside I.D. & greater than one mile from District facilities. Less than one acre I.D. 18 Less than one-acre all I.D.s & Outside an I.D. Fine up to amount specified per each day the violation is identified or continues. Will not exceed per each day the violation is identified or continues. 5% of Delinquent Balance Less than one-acre Outside I.D. and greater than one mile from District facilities. Per acre in I.D. 22 Fine up to amount specified per each day the violation is identified or continues. The cost for all other copy sizes is the direct cost of duplication. Per acre I.D. 18 8 1/2" x 11" Per $1000 of assessed value for I.D. 27 Section #Code #Fee Description Meter Size 9 9.04 A.1.District Annexation Processing Fee $1,068.96 9.04 B. Annexation Fees for Water Annexations into Otay Water District Boundaries Districtwide Annexation Fee 3/4"$2,797.94 1"$6,994.85 1-1/2"$13,989.70 2"$22,383.52 3"$44,767.04 4"$69,948.50 6"$139,897.00 8"$223,835.20 10"$321,763.10 9.04 C.4. Annexation Fees for Annexations to Sewer Improvement Districts per EDU $1,530.59 10 10.01 Waiver Request $50.00 23 23.04 Backflow Certification - Third Notification $60.00 - Third Notification (hand delivered)$110.00 - Reconnection $230.00 $40.00 25 25.03 A. Set-up Fees for Accounts $15.00 25 25.03 B. Monthly MWD & CWA Fixed System Charges (1)3/4"$23.89 1"$39.82 1-1/2"$79.60 2"$127.34 3"$278.58 4"$501.45 6"$1,114.34 8"$1,910.26 10"$3,024.59 (1)Water billed beginning January 1, 2026, which may include water used December 2025. Charges - Initial Filing Fee (New applicants for addition to the list of approved backflow prevention device testers) Appendix A Otay Water District Exhibit 4 Section #Code #Fee Description Meter Size Charges 25 25.03 C.1. Domestic Residential Monthly Fixed System Charges (1)3/4" $22.88 1" $28.45 1-1/2" $42.70 2" $59.55 25 25.03 C.2. Multi-Residential Monthly Fixed System Charges (1)3/4" $21.11 1" $25.50 1-1/2" $36.79 2" $50.11 3" $105.83 4" $178.32 6" $349.92 8" $540.25 10" $828.43 25 25.03 C.3. Business and Commercial Monthly Fixed System Charges (1)3/4" $23.08 1" $28.77 1-1/2" $43.33 2" $60.54 3" $128.65 4" $219.41 6" $441.22 8" $696.80 10" $1,076.28 25 25.03 C.4.3/4" $20.42 1" $24.35 1-1/2" $34.52 2" $46.46 3" $97.82 4" $163.93 6" $317.90 8" $485.42 10"$741.58 25 25.03 C.5.3/4" $21.48 1" $26.13 1-1/2" $38.05 2" $52.15 3" $110.25 4" $186.28 6" $367.61 8" $570.63 10"$876.51 (1) Water billed beginning January 1, 2026, which may include water used December 2025. Publicly Owned Monthly Fixed System Charges (1) Non-Public Irrigation and Commercial Agriculture Monthly Fixed System Charges (1) Section #Code #Fee Description Meter Size Charges 25 25.03 C.6.Public Irrigation Monthly Fixed System Charges (1)3/4" $20.42 1" $24.35 1-1/2" $34.52 2" $46.46 3" $97.82 4" $163.93 25 25.03 C.7.3/4" $20.99 1" $25.29 1-1/2" $36.39 2" $49.48 3" $104.46 4" $175.87 6" $344.47 8" $530.95 10"$813.67 25 25.03 C.8.3/4" $42.75 1" $57.89 1-1/2" $96.30 2" $141.96 3" $311.13 4" $543.00 6" $1,130.33 8" $1,745.28 10" $2,859.05 25 25.03 D.1.(b) Domestic Residential Water Rates (1)Unit Charge 0-9 $6.66 10-12 $7.23 13 or more $8.03 25 25.03 D.2.(b) Multi-Residential Water Rates - Per Dwelling Unit (1)0-9 $6.61 10-12 $7.15 13 or more $7.41 25 25.03 D.3.(b) Business and Commercial Water Rates (1)All Units $7.00 25 25.03 D.4.(c) Non-Public Irrigation and Commercial Agriculture Using Potable Water Rates (1)All Units $8.06 25 25.03 D.5.(b) Publicly-Owned Water Rates (1)All Units $7.70 25 25.03 D.6.(b) Public Irrigation Water Rates (1)All Units $8.79 25 25.03 D.7.(b) Construction Water Rates (1)All Units $8.00 (1) Water billed beginning January 1, 2026, which may include water used December 2025. Construction Monthly Fixed System Charges (1) Recycled Monthly Fixed System Charges (1) Section #Code #Fee Description Meter Size Charges 25 25.03 D.8.(c)Recycled Non-Public Irrigation Water Rates (1)All Units $6.36 25 25.03 D.9.(c)Recycled Commercial Water Rates (1)All Units $5.84 25 25.03 D.10.(c)Recycled Public Irrigation Water Rates (1)All Units $6.48 25 25.03 D.11.(b) Potable Interim Business and Commercial Water Rates (1)All Units $14.00 25 25.03 D.12.(b) Potable Interim Non-Public Irrigation and Commercial Agriculture Water Rates (1)All Units $16.12 25 25.03 D.13.(b) Tank Trucks Water Rates (1)All Units $8.00 25 25.03 D.14.(c) Application Fee for Water Service Outside District Boundaries $500.00 25 25.03 D.14.(d) Water Rate for Service Outside District Boundaries (1)All Units $15.40 25 25.03 D.15.(b) Application Fee for Water Service Outside an Improvement District $275.00 25 25.03 D.15.(c) Water Rate for Service Outside Improvement District (1)All Units $15.40 25 25.03 D.16.(c) Fire Service Monthly Charge 3/4"$3.30 1"$3.38 1-1/2"$3.72 2"$4.27 3"$6.32 4"$9.81 6"$22.40 8"$44.10 10"$76.73 25 25.03 E.1.Energy Charges for Pumping Potable Water (1) Per 100 ft of lift over 450 ft per unit $0.092 25 25.03 E.2. Energy Charges for Pumping Recycled Water (1) Per 100 ft of lift over 450 ft per unit $0.099 (1) Water billed beginning January 1, 2026, which may include water used December 2025. Section #Code #Fee Description Meter Size Charges 25 25.04 A.Deposits for Non-Property Owners 3/4"$150.00 1"$250.00 1-1/2"$300.00 2"$450.00 3"$1,000.00 4"$1,350.00 6"$3,300.00 8"$7,000.00 10"$10,000.00 28 28.01 B.1.Capacity Fees and Zone Charge Districtwide Capacity Fee - All IDs excluding Triad 3/4" $14,745.27 1" $36,863.18 1-1/2" $73,726.35 2" $117,962.16 3" $235,924.32 4" $368,631.75 6" $737,263.50 8" $1,179,621.60 10" $1,695,706.05 - TRIAD 3/4" $11,058.95 1" $27,647.38 1 -1/2" $55,294.75 2" $88,471.60 3" $176,943.20 4" $276,473.75 6" $552,947.50 8" $884,716.00 10" $1,271,779.25 28 28.02 Installation and Water Meter Charges Meter Size Meter Cost Installation Total Meter Box/Vault (if Needed) - Potable (Non-Irrigation)3/4" x 7.5"$314.14 $149.08 $463.22 $126.56 3/4" x 9"$334.47 $149.08 $483.55 $126.56 1"$405.38 $149.08 $554.46 $126.56 1.5"$658.90 $149.08 $807.98 $286.91 2"$944.14 $149.08 $1,093.22 $286.91 3"$2,942.30 $897.57 $3,839.87 $5,117.99 4"$5,110.31 $897.57 $6,007.88 $5,117.99 6"$8,826.89 $1,417.78 $10,244.67 $5,117.99 8"$11,028.55 $2,174.03 $13,202.58 $7,342.12 10"$15,861.11 $2,174.03 $18,035.14 $7,342.12 Section #Code #Fee Description Meter Size Charges 28 28.02 Meter Cost Installation Total Meter Box/Vault (if Needed) - Potable/Recycled Irrigation 3/4" x 7.5"$314.14 $149.08 $463.22 $322.54 3/4" x 9"$334.47 $149.08 $483.55 $322.54 1"$405.38 $149.08 $554.46 $322.54 1.5"$658.90 $149.08 $807.98 $322.54 2"$944.14 $149.08 $1,093.22 $322.54 3"$2,036.37 $897.57 $2,933.94 $5,117.99 4"$3,964.50 $897.57 $4,862.07 $5,117.99 6"$7,137.39 $1,417.78 $8,555.17 $5,117.99 8"$9,508.28 $2,174.03 $11,682.31 $7,342.12 10"$13,492.97 $2,174.03 $15,667.00 $7,342.12 - Combined Fire and Domestic 4"$12,157.88 $897.57 $13,055.45 $5,117.99 6"$16,181.08 $1,417.78 $17,598.86 $5,117.99 8"$23,526.12 $2,174.03 $25,700.15 $7,342.12 10"$32,105.39 $2,174.03 $34,279.42 $7,342.12 31 31.03 A.1.Requirement of Deposit for Temporary Meters 3/4"$156.85 1"$184.78 1-1/2"$379.62 2"$2,865.00 4"$1,986.00 6"$2,465.00 - Construction Trailer Temporary Meter 2"$2,685.00 - Tank Truck Temporary Meter (Ordinance No. 372)2"$1,000.00 31 31.03 A.4.Temporary Meter Install & Removal 3/4" - 4" (on hydrant)$280.00 4" - 6"$1,200.00 8" - 10"Actual Cost 31 31.03 A.5. Temporary Meter Move Fee (includes backflow certification)3/4" - 4"(on hydrant)$210.00 4" - 6" $1,200.00 8" - 10"Actual Cost 33 33.07 A.Customer Request for Meter Test (Deposit)5/8", 3/4" & 1"$120.00 1-1/2" & 2 "$200.00 3" & Larger $400.00 34 34.01 D.2. Returned Check Charges $25.00 34 34.02 C Meter Lock Charge $70.00 38 38.06 A Fire Flow Fee $600.00 Installation and Water Meter Charges (continued) Section #Code #Fee Description Meter Size Charges 53 53.03 A.1.Sewer Capacity Fee within an ID $7,985.23 53 53.03 A.2.Sewer Capacity Fee per EDU outside an ID $11,045.51 53 53.03 B.1.Sewer Connection Fee - Russell Square $7,500.00 53 53.03 B.2.Monthly Sewer Service Charge - Russell Square $200.00 53 53.10 & 11 Set-up Fees for Accounts $15.00 Effective 1/1/26 Effective 1/1/27 Effective 1/1/28 Effective 1/1/29 Effective 1/1/30 53 53.10 Residential Sewer Rates (2) Rate multiplied by 3-year winter average units $3.92 $4.12 $4.53 $4.97 $5.46 53 53.10 Residential Monthly Fixed Sewer System Charges (2).75"$21.60 $22.72 $24.95 $27.40 $30.08 1"$33.32 $35.05 $38.49 $42.26 $46.40 53 53.10 A.4.Residential Sewer Without Consumption History .75"$51.04 $53.66 $58.97 $64.72 $71.08 53 53.10 B.2.Multi-Residential Sewer Rates (2) Rate multiplied by 3-year winter average units $3.92 $4.12 $4.53 $4.97 $5.46 53 53.10 B.2. Multi-Residential Monthly Fixed Sewer System Charges (2).75"$21.60 $22.72 $24.95 $27.40 $30.08 1"$33.32 $35.05 $38.49 $42.26 $46.40 1.5"$62.60 $65.86 $72.31 $79.40 $87.18 2"$97.74 $102.82 $112.90 $123.96 $136.11 3"$209.02 $219.89 $241.44 $265.10 $291.08 4"$373.02 $392.42 $430.87 $473.10 $519.46 6"$823.99 $866.84 $951.79 $1,045.06 $1,147.48 8" $1,409.68 $1,482.98 $1,628.32 $1,787.89 $1,963.10 10"$2,229.65 $2,345.59 $2,575.46 $2,827.85 $3,104.98 (2) Sewer billed beginning January 1, 2026. Section #Code #Fee Description Meter Size Charges Effective 1/1/26 Effective 1/1/27 Effective 1/1/28 Effective 1/1/29 Effective 1/1/30 53 53.11 Commercial and Industrial Sewer Rates Rate multiplied by Low Strength $3.35 $3.52 $3.87 $4.25 $4.67 annual avg.Medium Strength $4.73 $4.98 $5.46 $6.00 $6.59 units High Strength $7.46 $7.85 $8.62 $9.46 $10.39 53 53.11 Commercial and Industrial Monthly Fixed Sewer System Charges (2).75"$21.60 $22.72 $24.95 $27.40 $30.08 1"$33.32 $35.05 $38.49 $42.26 $46.40 1.5"$62.60 $65.86 $72.31 $79.40 $87.18 2"$97.74 $102.82 $112.90 $123.96 $136.11 3"$209.02 $219.89 $241.44 $265.10 $291.08 4"$373.02 $392.42 $430.87 $473.10 $519.46 6"$823.99 $866.84 $951.79 $1,045.06 $1,147.48 8" $1,409.68 $1,482.98 $1,628.32 $1,787.89 $1,963.10 10"$2,229.65 $2,345.59 $2,575.46 $2,827.85 $3,104.98 60 60.03 Issuance of Availability Letters for Water and/or Sewer Service $75.00 72 72.04 A.1. Locking or Removing Damaged or Tampered Meters - To Pull and Reset Meter 3/4" - 2"$310.00 - Broken Curbstop or Tabs 3/4" - 1"Actual Cost - If Customer uses Jumper 3/4" - 1"Actual Cost - Broken Lock/Locking Device 3/4" - 1"$95.00 - Broken Curbstop or Tabs 1.5" - 2"Actual Cost - To Pull and Reset Meter 3"Actual Cost - To Pull and Reset Meter 4"Actual Cost - To Pull and Reset Meter 6"Actual Cost - To Pull and Reset Meter 8"Actual Cost - To Pull and Reset Meter 10"Actual Cost 72 72.05 D. Type I Fine - First Violation $100.00 - Second Violations $200.00 - Third or each additional violation of that same ordinance or requirement within a twelve-month period $500.00 (2) Sewer billed beginning January 1, 2026. Section #Code #Fee Description Meter Size Charges 72 72.05 D. Type II Fine $5,000.00 Type III Fine $500.00 Type IV Fine $500.00 State Water Code #71630 & Annual Board Resolution #4142 Water Availability/Standby Annual Special Assessment Charge $10.00 $30.00 $3.00 $3.00 State Water Code #71630 & Annual Board Resolution #4142 Sewer Availability/Standby Annual Special Assessment Charge $10.00 $30.00 Annual Board Resolution General Obligation Bond Annual Tax Assessment $0.005 Policies 5B Copies of Identifiable Public Records $0.20/page 54 Late Payment Charge 54 Lien Processing Fee $60.00 54 Delinquent Tax Roll Fee $50.00 54 Delinquency Mailed Notice $5.00 54 Delinquency Tag $25.00 5% of Delinquent Balance Less than one-acre Outside I.D. and greater than one mile from District facilities. Per acre in I.D. 22 Fine up to amount specified per each day the violation is identified or continues. The cost for all other copy sizes is the direct cost of duplication. Per acre I.D. 18 8 1/2" x 11" Per $1000 of assessed value for I.D. 27 Per acre for outside I.D. & greater than one mile from District facilities. Less than one acre I.D. 18 Less than one-acre all I.D.s & Outside an I.D. Fine up to amount specified per each day the violation is identified or continues. Will not exceed per each day the violation is identified or continues. STAFF REPORT TYPE MEETING: Regular Board MEETING DATE: November 5, 2025 SUBMITTED BY: Andrea Carey, Customer Service Manager PROJECT: P2662 DIV. NO.All APPROVED BY: Joseph R. Beachem, Chief Financial Officer Jose Martinez, General Manager SUBJECT: Update on the Customer Communication Plan for the Upcoming District-Wide Meter Changeout Project GENERAL MANAGER’S RECOMMENDATION: This is an informational item only. COMMITTEE ACTION: N/A PURPOSE: To provide the Board with an update on the customer communication plan for the upcoming District-wide Meter Changeout Project. BACKGROUND: On January 8, 2025, the Board approved for the General Manager to enter into an agreement with Badger Meter, Inc. for the purchase and installation of water meters and cellular transponders as part of a District-wide meter changeout program scheduled to span the next six years. This project includes the changeout of ¾-inch to 2-inch water meters and installation of cellular Automated Metering Infrastructure (AMI). Following a comprehensive contracting process, a kickoff meeting was held the week of September 1 between the District, Badger Meter, Inc., their installation consultant, Professional Meters, Inc. (PMI), and the District’s project management consultant, ESource Companies LLC. ANALYSIS: The Meter Changeout Project is expected to span six years. The current focus is on system design, establishing testing requirements, AGENDA ITEM 5 and customer communication and outreach planning. In January 2026 approximately 500 meters will be installed to test workflow, field quality control, and system readiness before proceeding to full deployment. District-Wide Communication and Outreach The Meter Changeout Project will affect every District customer’s meter over the course of six years. To ensure District customers are informed about the project, a variety of communication methods will be used as described below. District Newsletter, Social Media, and Project Webpage The District will use its newsletter and social media platforms to provide periodic updates about the project and direct customers to the project’s webpage. The project webpage will include an overview of the following: • Scope and timeline • FAQ • Project video The District will be working with Badger Meter, Inc. to develop a customized video that addresses common questions about the installation and overall project. All of these items will be available to District customers in both English and Spanish. Customer-Specific Communication the Month Prior to Installation Project Postcard and Email As the meter changeout for a specific customer approaches, the District will use a variety of communication methods to notify the customer. Approximately one month before the customer’s scheduled meter changeout, a postcard will be mailed to inform the customer of the upcoming work. At this time, it is not yet known whether the postcard will have sufficient space to include both English and Spanish text. If a full Spanish translation is not possible, a brief message in Spanish with a web link will be included to direct customers to a Spanish translated postcard. The postcard will also include a QR code linking the customer to the District’s project webpage for additional information. In addition, the District will send an email in both English and Spanish with the same message and a link to the project video. Email and Phone Call Two weeks later, approximately two weeks before the changeout, an automated phone message and an accompanying email, in both English and Spanish, will be sent to all affected customers to remind them of the upcoming changeout. All District messaging will emphasize the following key points: • The District is partnering with Professional Meters, Inc. to complete this work, and all personnel and vehicles will be clearly identified. Professional Meters, Inc. personnel will have identification showing they are working with both Badger Meters, Inc. and Otay Water District. • The homeowner does not need to be home for the work to be completed. • The changeout process will only take approximately 30 minutes. Day of Installation Communication Door Knock and Door Hanger Prior to the technician replacing the meter, they will attempt to make contact with someone at the residence by knocking on their door. If someone is home, the technician will explain that they are on site to change their water meter and that water service will be unavailable for approximately 30 minutes. If the customer cannot be without water at that time, the technician will attempt to reschedule later that day or the following day. If that is not possible, the customer will be asked to contact the office for assistance rescheduling. If there is no answer at the door, the technician will confirm water is not currently being used and then will proceed with the meter changeout. After successful meter replacement, the installation contractor will leave a door hanger at the property notifying the customer that the work has been completed. The door hanger will include a Spanish version on the reverse side. The door hanger will also provide tips for customers in case their water appears cloudy or runs inconsistently. If the installer is unable to change the meter at the time of arrival, and not able to make contact with the customer, the same door hanger will be left with a box checked indicating that the meter replacement could not be completed and instructing the customer to please call the District’s office for additional information. Internal Communication In addition to communicating with District customers, it is also important to inform and update District staff about the project. A project overview will be presented to all staff at the next Employee Information Meeting. In addition, Customer Service staff will be given daily updates during meter deployment in order to be aware of the areas where the contractor is working. Meter Services staff will have access to PMI’s work order management. The work order management system is used by PMI’s technicians to record all data related to the meter changeout. When visiting a location for changeout, PMI technicians will: •Validate the meter being changed matches the identified meter at the specific location, •record the final meter read before changeout and enter all new meter data. •take photographs of: the site prior to installation, the old meter prior to removal, the new meter installed, and the final condition of the meter box after the installation process is complete. This Data will be uploaded to this system where District staff will see this information and be provided real-time information on total meters installed, those in-progress, and those that need additional intervention by District staff before the installation can be completed. The project team who is made up of staff from Customer Service, Meter Services, IT, Finance, and Communications will have biweekly progress meetings to stay informed about all aspects of the project. The Board of Directors will be regularly updated through the General Manager’s Report and during the Directors’ Quarterly Meetings with the General Manager. FISCAL IMPACT: Joe Beachem, Chief Financial Officer This is an informational item only. STRATEGIC GOAL: Invest in technology infrastructure to enhance customer engagement and satisfaction by implementing advanced metering solutions that streamline service delivery and provide customers with timely, accessible information about their water use. LEGAL IMPACT: This is an informational item only. Attachments: A)Committee Action B)PowerPoint Presentation ATTACHMENT A SUBJECT/PROJECT: Update on the Customer Communication Plan for the Upcoming District-Wide Meter Changeout Project COMMITTEE ACTION: NOTE: The “Committee Action” is written in anticipation of the Committee moving the item forward for board approval. This report will be sent to the Board as a committee approved item, or modified to reflect any discussion or changes as directed from the committee prior to presentation to the full board. Water Meter Changeout Project and Customer Communication Update Attachment B Meter Changeout •Meters are reaching the end of their 20-year lifecycle •District contracted with Esource, Inc. to assist with the procurement process •Request for Proposal issued mid-June 2024, to include meters, installation, AMI, and MDMS. Responses due July 31, 2024 •Six proposals received •Staff from Finance, Engineering, Water Operations, and IT involved in evaluation Meter Changeout •Otay Board of Directors approved the General Management to enter into an agreement with Badger Meter, Inc. for a District-wide meter changeout program •Contract was finalized in August 2025 •Kickoff meeting took place in early September between the District, Badger Meters, Inc., their installer Professional Meter, Inc. (PMI) and the District’s program management consultant, ESource Companies LLC. Project Timeline September 2025 - June 2026 July 2026 - June 2031 Planning & System Design Initial Meter Deployment (500 meters) System Integration & Testing Full Scale Deployment Meter Changeout •Meters are reaching the end of their 20-year lifecycle •District contracted with Esource, Inc. to assist with the procurement process •Request for Proposal issued mid-June 2024, to include meters, installation, AMI, and MDMS. Responses due July 31, 2024 •Six proposals received •Staff from Finance, Engineering, Water Operations, and IT involved in evaluation Initial Meter Deployment •Installation of approx. 500 meters in January 2026 •Two full meter routes (604 & 1703) and additional meters scattered throughout the District •The initial meter deployment will allow staff to test installation workflow, field quality control, system readiness and system integrations. Communication & Outreach Communication & Outreach City of Hanford, CA Customer Outreach Customer Outreach Internal Communication Overview to all staff at Employee Information Meeting. Customer Service staff updated daily once deployment begins. Meter Services staff will have access to PMI’s work order management system. Project Team will have biweekly project status meetings. Board of Directors will have updates via the General Manager’s Report and Director’s Quarterly Meetings. Questions?