LONG BEACH WATER ADOPTS FISCAL YEAR 2023 BUDGET
LONG BEACH, CALIF. (JUNE 27, 2022) — The Board of Water Commissioners last week unanimously adopted the Fiscal Year 2023 budget, focusing on enhancing access to affordable, reliable drinking water, continuing conservation efforts and investing in water and sewer infrastructure — all with no rate increase for customers.
The $156 million water budget and $23 million sewer budget for Fiscal Year 2023, covering October 2022 through September 2023, support Long Beach Water’s commitment to provide exceptional quality drinking water, reliable sewer service and excellent customer service.
“Under the most difficult circumstances, the Long Beach Board of Water Commissioners and Long Beach Water staff have produced a budget that has successfully confronted global cost increases and infrastructure needs, while facing the vagaries of a continuing drought,” Board President Bob Shannon said. “That all of this has been accomplished without burdening our customers with a rate increase makes us especially proud.”
Between the two budgets, Long Beach Water is set to invest more than $46 million in system investments, including $16 million dedicated to groundwater well rehabilitation and construction.
As California continues to face unprecedented drought, Long Beach Water is investing in a sustainable drinking water supply by enhancing access to groundwater, our most reliable and affordable source. The Capital Improvement Plan includes rehabilitation of up to 20 existing groundwater wells and construction of 12 new wells in the coming years.
The budget also includes rehabilitation of water storage tanks, improvements to the Groundwater Treatment Plant and maintenance of sewer and water pipelines, valves and meters throughout Long Beach. Long Beach Water also continues to invest in conservation, offering assistance and incentives for residents and businesses.
The 2023 budget accounts for global price increases in raw materials, chemicals and construction due to supply chain challenges, pandemic closures and inflation. No projects in the Capital Improvement Plan have been deferred due to cost increases. Long Beach Water’s budget team continues to monitor market trends and will bring updates and any adjustments to the Board as needed.
Reserves are used to cover some added costs and continue to keep rates low for customers. Future budget projections include plans to build back reserves for future use.
For more information on the budget, visit Lbwater.org/budget.
ABOUT LONG BEACH WATER
As a recognized leader in water conservation and innovation, the Long Beach Water contributes to creating a sustainable community, develops collaborative partnerships, and fosters a quality workforce. To learn more visit lbwater.org. Follow us on social media on Facebook and Instagram @lbwater and on Twitter @LongBeachWater.