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Revenues keep going up for Santa Clarita Water Company

Posted: May 13, 2008 2:11 a.m.
Updated: July 14, 2008 5:01 a.m.
 
The Santa Clarita Water Company opened up its wallet Monday night to reveal how much it collects from its more than 28,000 customers.

The bottom line? The wallet is much fatter than it was five years ago, by at least 50 percent.

The water company, located on Soledad Canyon Road next to the Saugus Speedway site, is a subsidiary of Santa Clarita Valley's local water wholesaler, the Castaic Lake Water Agency.

Last night, the agency's Retail Operations Committee revealed just how much its retailing arm took in over the last five years.

While money collected rose by more than 50 percent, the company's customer base rose by less than 15 percent.

Money made by the water company from water sales increased by more than half since 2003, according to a report called the Water Sales Report for March 2008 filed by the committee.

That company reported revenues that increased by almost $7 million in less than five years.

The Castaic Lake Water Agency also sells water to three other local retailers: the Newhall County Water District, the Valencia Water Company and the Los Angeles County Waterworks District No. 36.

The agency's retail operations committee released the numbers at a public meeting held at the Rio Vista Water Treatment Plant overlooking Central Park.

In its water sales report, the number of water customers are listed next to the amount of money collected from them by The Santa Clarita Water Co.

The company collected $1,207,490 from 28,048 customers in March, up by more than $514,835 from the total amount it collected from 3,685 fewer customers in March 2003.

While revenues jumped from $701,330 collected in March 2003 - an increase of more than 50 percent - the number of customers climbed by only 3,843 new customers from 24,363 to 28,048, an increase of slightly less than 15 percent.

Total revenues collected last year from 27,830 Santa Clarita Water Co. customers totalled almost $20 million - $19,651,822 - up by more than 50 percent of the amount collected from 24,731 customers five years ago.

The retail committee also unveiled a five-year Fiscal Year Comparison for the Santa Clarita Water Division (the company) to show how it spent some of that money in the last five years.

Payroll costs jumped to more than $3.36 million from slightly more than $2.17 million paid out in 2003.

Lawyers hired by the Santa Clarita Water Division cost the retailer more money every for four years from $360,148 in 2003/04 to $664,596 in 2006/07.

The company also paid $200,000 every year for the past five years for "professional services," peaking this fiscal year (2007/08) at $276,555.

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