EID Board Spending Control - Grade F
EXCESSIVE SPENDING… notable examples of how the EID Board is spending our rate $$ include:
More than tripling of debt, from $110 million to $390 million under current Board
$137 million of currently unused Water firm yield and Wastewater Treatment capacity… at $ 8 million annual interest cost to current ratepayers
Ongoing $20 million annual deficit spending… planned for 2011-2015
$4.1 million (10.6%) increased gross operating budget for 2011… increased spending for travel, meetings, consultants/contract services, training, and engineering (despite 41% reduction in capital projects)
175 insured vehicles
for 115 Field employees...
Click Here to read the list.
$6,000 car allowances for at least eight Managers… in addition to above 175 vehicles
$1.5 million Water Towers for 120 homes, or $12,500 per home… >70% excess capacity, and at no FCC cost to homeowners (EID did this TWICE in last two years)
$15 million “Taj Mahal” headquarters building… undue grandeur with 40% excess space
Lavish $38,800 per employee benefits… including $18,500 per employee (100% EID paid) medical plan, and $12,500 per employee pension contribution
Lavish Paid Time Off… up to 50 days annually, or 19% of week-days.