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VALUE IN MILLIONS OF DOLLARS 34,3 15.5 17.2 . 5.7 9.8 - . - - 1918 1928 1938 1948 1959 1967 Transmission, Distribution & Water Treatment Facilities 87.7 (Conduits, pumping stations, treatment plants, etc.) 56.0 25,3 28.2 9.2 15.9 II . - . 1918 1928 1938 1948 1959 1967 13 FINANCIAL PICTURE Total Utility Plant Before Depreciation The accompanying financial statements point up the general growth of the water system and the increasing expenditures required to operate it. It should be noted that the decline in income between 1967 and 1966 was primarily due to an extreme fluctuation in precipi- tation. Rainfall during 1967 was 40% above the 1940-1966 average. This resulted in a decrease in water sales from 1966, when precipita- tion was nearly a third below average and lawns and gardens required much more frequent irrigation. 25.7 . II 14.9 - 1918 1928 Operating expenses climbed about 5% in 1967, but the rate of in- crease was smaller than in 1965 and 1966 due to greater efficiency stemming from increased mechanization and improved work schedul- ing. Net additions to plant facilities during 1967 amounted to nearly $6.4 million with over half of this amount accounted for by the new Marston Water Treatment Plant and most of the remainder allocated to a new pumping station and the extension of major conduits. As of December 31, 1967, working capital amounted to $8.9 million of which more than 72% was in liquid assets, such as cash and short term U.S. Government Securities. These funds will be used to supplement in- come to finance the continued expansion of the water system in the years ahead. 1938 1948 Source of Supply Facilities (Dams, transmountain tunnels, etc.) To serve Denver's fast growing population, the water system has been expanded very substantially during its 50 years under the Board of Water Commissioners. Total assets have climbed from less than $14 million to over $217 million and net worth has increased from $750.000 to more than $73 million. The undepreciated value of the plant (con- duits, treatment plants, tunnels, reservoirs, etc.) has risen from below $15 million to above $232 million, Since the Water Department receives no tax money. whatsoever. expansiOQ has been financed by a combination of water revenue and general obligation water bonds retired from water revenue. In the past eleven years alone, nearly $160 million has been spent on replacements and additions to plant facilities. Of this figure. $115 million was de- rived from the sale of bonds to be retired from water revenue and the remaining $45 million directly from income. 007~ 90,3 1959 232.0 1967 144.3