(IID Board to have two options Monday)….One is to adopt a resolution approving a 2014 Budget.
The other is to adopt a resolution to temporarily extend funding for essential services, provide for operational expenditures and allow existing projects to proceed without interruption until a new budget is approved. During the special meeting, the Imperial Irrigation District Directors will be presented with a proposed 2014 operating and capital budgets of $550.3 million for the Energy Department and $217.9 million for the Water Department. The Chief Financial Officer says under the Energy Budget, the Energy Cost Adjustment will change from .0324 cents to .0419 cents per kilowatt-hour, based on the board approved ECA rate schedule. It will also include a new borrowing of $75 million for Energy capital Projects. The special budget meeting begins at 4:30 Monday afternoon, in Condit Auditorium on Broadway in El Centro.