WSP06414 - Laserfiche WebLink

Home Browse Search

o ~inanciaLflct lIr t lire -., .., ..'...."1 The Southern Nevada Water Authority operates from three primary funds: \t'holesale Delivery Operations, which is funded by wholesale delivery charges paid by retail purveyor members of the \Valer Authority; New Expansion Debt Senlce, which is funded primarily by connection charges and sales taxes; and the Capital Impro\'tmenls Program. which is funded almost entirely by debt the \Vater Authority has incurred. Thanks to effective management of these funds and successful long-range planning. the financial picture for the Water Authority is exceptionally strong. A'S a nol-for-profit government entily, the \Valer Authority invests revenues in facilities and services to ensure a safe. reliable water supply. The \Valer Authority is committed 10 reducing costs and passes on savings to our cUstomers in the form of lower rates, ~r()IIIUIWLlh.r Prnr,ram The SN\VA's Ground....ater Management Program is designed to prolect and manage the groundwater aquifer in the Las Vegas Valley. A<; authorized by state law, the WatN Authority assesses an annual fee of $30 per acre-foot of permitted groundwater right or $30 per domestic well. Pro<eeds from this fee are used to manage the aquifer, fund I LIS Vr-r.as \Vash The SN\VA has laken the lead in finding solutions to critical environmental problems ",'ilh the Las Vegas Wash. The Las \~gas \Vash is the nalural channel that returns runoff from the Las Vegas Valle)' to Lake Mead. The \Vater Authority has organized the Las Vegas \'(~sh Coordination Committee, ,,,'hich is As a resull. the Water Authority has not raised the wholesale deli,'ery charge in five )'ears. In recent months however. new Financial challenges have been presented by rapidly rising electric power rates. The SNWA is the largest power user in Southern Nevada and uses power to treat water and deliver il to retail purveyors who then deliver it to homes and communities in our region, Despite the uncertainties presented b}' a continually changing power market. the Water Authority is committed to providing a reliable, cost-efficient water supply. The following financial information (based on the fiscal Year ended June 30. 2000) is presented 10 give an overview of our indi,idual operating programs. funds. re"enues and expenditures. permanent recharge of the aquifer amI: when needed, to fund well abandonment and conversion to the municipal system. This fund has a balance of $2.5 million for the Fiscal Year ended June 30, 2000. but much of that balance will be spent on artificial recharge and well cOIl\"ersions in the next fiscal }'ear. composed of stakeholders of the Las Vegas \'('ash. So far. the only R'venues of the Las Vega:;; \'('a:;;h art 4 percent of sales tax pro<eeds; however, it is expected thai sales tax proceeds ,viII be used to fund capital improvements and a formula ....ill be developed for stakeholders to fund operations of the commillt't'.