Laserfiche WebLink
Purpose <br />Revenues of the WAS subdistrict are generated in several ways. WAS collects annual Class D Assessments <br />from each of its well owner members. Assessments are currently $27.50 per acre -foot of contracted <br />consumptive use water for irrigated land, $30.75 per acre -foot for non - irrigated land, $55 per acre -foot for <br />non -tax governments, and $144 per acre -foot for gravel pits. Recent -year assessments for contracts have <br />averaged approximately $450,000. <br />WAS also receives tax revenues for lands within the subdistrict In Weld, Morgan and Adams counties. <br />Currently subdistrct lands are taxed at a rate of 9 mils, and revenues In 2011 were approximately $1.3 <br />million. Property tax revenues in 2012 are projected to be approximately $1.6 million. Of these 9 mils, 6.5 <br />are dedicated to the Debt Service Fund, and the other 2.5 mils go to the Operating Fund. <br />WAS maintains two separate funds for the purposes of their financial operations: <br />1) The General Fund (which receives only 2.5 of the total 9 mils) is used to fund daily operations at WAS, <br />including: salaries and benefits of staff, legal and engineering services, water leases, augmentation plan <br />expenses, water rights acquisition, development of water storage, and construction of recharge projects, <br />2) The Debt Service Fund is used to repay loans and other long -term debt that maybe carried by the <br />subdistrict. Currently, WAS has a 14.9M loan with CWCB in its first year of the repayment term, and a <br />newly approved 3M loan for water rights acquisition and storage construction. <br />WAS water supply projects are funded through the collection of property taxes in the General Fund, and <br />through the utilization of state and federal loans and grants. For example, several recharge projects have <br />been developed through grants obtained from the U.S. Bureau of Reclamation and the U.S. Department of <br />Agriculture's Agricultural Water Enhancement Project (AWEP). In 2008, WAS received a $435,000 <br />Drought Relief Grant, which they used to secure future water leases. <br />In 2012, the Operating Fund estimates $1,005,000 of revenues. Of this, $535,000 will be generated <br />through Class D Assessments, and the remaining portion Is collected through property taxes. In <br />2012 WAS will spend $368,000 on effluent leases alone, in order to cover the plan's past pumping <br />depletions. In addition to effluent, WAS also has annual leases in the ditch, recharge and storage <br />sections of their Augmentation Plan. <br />The members of the WAS plan have not pumped their wells since 2005. Because of the large <br />amount of prior depletions carried into the plan from GASP, WAS is still in the process of paying <br />back depletions. Any and all drought relief finding would be used to secure additional water leases <br />for the plan, in an effort to get the constituents a pumping quota allocation in 2013. <br />