DuPage Water Commission cuts debt by two-thirds since 2011
Three years after a series of accounting errors lead to a $40 million gap in presumed reserves and subsequent overspending, the DuPage Water Commission is one step closer to paying back its debts.
In 2011, the Commission had an outstanding debt of $142 million after the accounting debacle, according to a news release from the county. That total has been reduced to $54 million, with an additional $14 million in payment expected by the end of the fiscal year. The Commission has also reduced its operating budget by $6 million since 2011, a decrease of about 28 percent.
County Board Chairman Dan Cronin, who appointed board member Jim Zay as water commissioner, said in a statement that Zay's leadership has "helped this crucial agency make a remarkable turn-around from the crisis it was in three years ago."
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