The Marin Municipal Water District cut the budget for the 2011-2012 fiscal year by three percent, establishing an operating budget of $66.4 million and a capital improvement budget of $14.9 million. “The new budget is conservative, reflecting both today’s economic realities and the ongoing reduction in revenues MMWD has experienced,” said board president Jack Gibson in a recent press release. The finance committee slashed $1.4 million in salaries, benefits, utilities and professional fees expenses.