The Board of Directors of Pico Water District and staff strive to “provide the highest quality and reliable supplies of water at the lowest possible rate. Provide the best service, manage its infrastructure to meet present and future needs, and strive to minimize economic impact to its water customers”. This Mission Statement cannot be met without the financing needed to carry out the goals and objectives as cited in the Mission Statement. The District’s finances play a very important role to assure that the District can meet its Mission Statement. Without the proper funding of capital improvement projects the District would not be able to replace needed infrastructure, it would not be able to create a rate stabilization fund or set aside monies for reserves. Having a sound and balanced water rate allows for District growth, for facilities to be replaced and maintenance to be carried out in a timely manner and it allows for Staff to plan of the future and build for reliability.