Innovation and
Business Services

Statement of Revenues, Expenses, and Changes in Net Position

For the Fiscal Years Ended June 30, 2021 and 2020

Operating Revenues	2021	2020
Water Sales	616,433,122	565,784,174
Other Revenues	3,533,325	3,315,307
Total Operating Revenues	619,966,447	569,099,481

Operating Expenses
Cost of Sales	514,395,141	449,752,095
Operations and Maintenance	26,720,889	26,153,130
Planning	9,411,990	9,345,036
General and Administrative	20,346,260	19,881,599
Total Operating Expenses	570,874,280	505,131,860
Net Operating Income before depreciation and amortization	49,092,167	63,967,621
Depreciation and Amortization	64,408,571	64,041,389
Operating Income (Loss)	(15,316,404)	(73,768)

Nonoperating Revenues (Expenses)
Property Taxes and In-Lieu Charges	16,233,221	15,525,521
Infrastructure Access Charges	43,921,782	36,941,802
Investment Income	1,183,759	11,783,278
Settlement proceeds	44,373,872	-
Other Income	10,353,513	9,566,974
Intergovernmental	11,935,586	11,962,880
Loss on Sale/Retirement of Capital Assets	(209,409)	(111,180)
Loss on in-substance defeasance	(393,593)	-
Interest Expense	(76,583,539)	(92,760,951)
Debt Issuance Costs	(3,722,023)	(289,716)
Settlement rebate to Member Agencies	(44,373,872)	-
Other Expenses	(17,642,805)	(20,970,642)
Total Nonoperating Revenues (Expenses)	(14,923,508)	(28,352,034)
Loss Before Capital Contributions	(30,239,912)	(28,425,802)

Capital Contributions
Capacity Charges	18,714,471	17,983,100
Water Standby Availability Charges	11,168,915	11,164,067
Contributions in Aid of Capital Assets	1,424,882	2,725,500
Total Capital Contributions	31,308,268	31,872,667
Changes in Net Position	1,068,356	3,446,865
Net Position at Beginning of Year	1,594,835,795	1,591,388,930
Net Position at End of Year	1,595,904,151	1,594,835,795

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Statements of Net Position

Assets	2021	2020
Current Assets
Cash and Investments	106,796,774	86,034,446
Restricted Cash and Investments	2,000,666	25,388,275
Water Receivables	114,765,688	107,514,736
Interest Receivable	948,933	1,242,174
Taxes Receivable	1,152,605	1,279,406
Other Receivables	9,565,438	8,527,771
Inventories	103,734,638	103,446,200
Prepaid Expenses	4,620,609	4,631,143
Total Current Assets	343,585,351	338,064,151

Noncurrent Assets
Cash and Investments	131,177,192	120,731,082
Restricted Cash and Investments	22,193,650	31,610,085
Advances to Other Agencies	-	164,394
Retention Receivable	1,339,577	1,422,938
Long-term Loan Receivables	8,488,964	8,832,767
Net OPEB Asset	1,402,043	1,110,981
Capital Assets:
Non-Depreciable	137,130,475	170,644,538
Depreciable	3,286,852,136	3,273,414,125
Total Noncurrent Assets	3,588,584,037	3,607,930,910
Total Assets	3,932,169,388	3,945,995,061

Deferred Outflows of Resources
Deferred Loss on Refunding	19,890,659	39,346,682
Pension Contributions Subsequent to Measurement Date	8,288,175	7,571,578
OPEB Contributions Subsequent to Measurement Date	501,912	500,885
Deferred Actuarial Amounts Related to Pensions	5,187,709	4,778,218
Deferred Actuarial Amounts Related to OPEB	845,146	845,458
Total Deferred Outflows of Resources	34,713,601	53,042,821

Liabilities
Current Liabilities
Accounts Payable and Other Liabilities	91,481,506	64,253,598
Interest Payable	16,899,412	18,714,791
Construction Deposits	66,584	431,821
Short-Term Liabilities	245,000,000	345,000,000
Current Portion of Long-term Liabilities	39,836,162	143,293,305
Total Current Liabilities	393,283,664	571,693,515

Noncurrent Liabilities
Long-term Liabilities	1,895,022,088	1,757,126,305
Net Pension Liability	72,480,967	64,924,751
Total Noncurrent Liabilities	1,967,503,055	1,822,051,056
Total Liabilities	2,360,786,719	2,393,744,571

Deferred Inflows of Resources
Deferred Gain on Refunding	7,419,834	4,027,520
Deferred Actuarial Amounts Related to Pensions	1,945,718	5,536,941
Deferred Actuarial Amounts Related to OPEB	826,567	893,055
Total Deferred Inflows of Resources	10,192,119	10,457,516

Net Position
Net Investment in Capital Assets	1,283,285,577	1,257,199,783
Restricted for Construction Projects	2,000,666	35,039,210
Restricted for Debt Service	344,315	113,227
Unrestricted	310,273,593	302,483,575
Total Net Position	1,595,904,151	1,594,835,795

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