Tag Archive for: Olivenhain Municipal Water District Board of Directors

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OMWD’s “AAA” Bond Rating Reaffirmed as Board Reduces Budget by 2.67 Percent

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Encinitas, Calif. — At its meeting this evening, Olivenhain Municipal Water District’s Board of Directors approved budget cuts following confirmation of OMWD’s exceptionally strong financial profile. The board was notified that Fitch Ratings, a global rating agency that offers independent credit opinions, has reaffirmed OMWD’s “AAA” bond rating with a stable outlook, the highest possible rating assigned by Fitch. The board also approved a revised budget for Fiscal Years 2021 and 2022 that saves over $1 million versus the originally approved budget.

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Olivenhain Municipal Water District Logo landscape design workshops

OMWD to Use $2 Million Water Wholesaler Refund to Reduce Future Costs to Customers

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Encinitas, Calif. — Olivenhain Municipal Water District’s Board of Directors unanimously voted at its April 14 meeting to utilize a $2 million refund to reduce future rate increases to OMWD ratepayers. The refund resulted from San Diego County Water Authority’s decade-long litigation with Metropolitan Water District of Southern California seeking legal rates and repayment of overcharges.

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Olivenhain Municipal Water District Logo landscape design workshops

OMWD Maintains its Winning Streak with its First‐Ever Two‐Year Budget

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Encinitas, Calif. — Olivenhain Municipal Water District’s Board of Directors accepted at its March 17 meeting the Government Finance Officers Association’s Distinguished Budget Presentation Award. The award was presented in recognition of OMWD’s budget for Fiscal Years 2021 and 2022. This is the nineteenth consecutive year OMWD has received this recognition.

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