Financial Highlights

Marin Water ended the 2023-2024 fiscal year in a solid financial position, with adequate reserves and an improved net position compared to 2022-2023. Operating revenues increased due to the restructuring of the water rate tiers as well as an overall increase in the water rates. The District experienced a small increase in long-term retiree liabilities resulting from unfavorable market conditions at the time of the actuarial valuation and a net increase in the number of retirees. Inflation together with increased costs of electricity and water purchased drove up operating expenses. 

The current adopted budget for Fiscal Year 2024-2025 is $163.8 million, which includes an operating budget of $109.3 million, a capital budget of $49.5 million and $5 million in reserve contributions. The budget includes enhanced funding for water supply, deferred infrastructure projects, and enhanced funding for the watershed. 

Our fiscal goal is to responsibly manage our resources with care, foresight and transparency. Throughout the year, our team is responsible for implementing the budget, monitoring financial performance, and maintaining prudent reserves.