A Bighorn Desert View Water Agency audit revealed a large unfunded pension liability last night. Reporter Mike Lipsitz says the board of directors also learned that flooding in Palmdale is affecting their water recharge…
At last night’s regular board meeting, a review of the Bighorn-Desert View Water Agency’s financial audit for fiscal 2014-2015 revealed the agency’s potential $400,000 unfunded pension liability. New government accounting rules require such figures to be included in annual fiscal audits. Government agencies up and down the state are considering the sobering figures for the first time this year. Also last night, General Manager Marina West in her report announced that recent rains and resulting mudslide along highway 58 near Palmdale had closed the California Aqueduct. Seems a mud and debris flow reaching 17 feet high breached the system causing enough damage that repair is expected to take three to four weeks during which time the water agency will not receive any recharge water; ratepayers are unlikely to be affected.
BIGHORN DESERT VIEW WATER AUDIT REVEALS UNFUNDED PENSION LIABILITY
