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Posted on: June 14, 2024

SWA approves $63.8M budget for Fiscal Year 2024-25

Board approve FY 2024-25 budget text with blue gavel photo

At its meeting on June 12, the Sweetwater Authority (Authority) Governing Board (Board) approved a $63.8 million budget for Fiscal Year (FY) 2024-25. The budget provides funding necessary to maintain the Authority’s operations and high-quality service, while balancing rising costs with decreasing water sales. 

The FY 2024-25 Budget demonstrates the Authority’s commitment to providing reliable water service to customers. Funding is allocated to protect distribution pipelines and to a new groundwater sampling program that will support future development of local, drought-proof water supplies.

The budget also shows a significant decrease in buying expensive imported water due to recent above-average rainfall and successful water transfers from Loveland Reservoir to Sweetwater Reservoir. With less need for imported water, the Authority’s Rate Stabilization Fund is expected to have a $15 million balance at the end of FY 2024-25. These reserves help the Authority manage the financial impacts of imported water costs and potential future dry years when there is less surface water available.

“The Board is dedicated to maintaining reliable service to our customers in the most efficient manner possible,” said Board Chair Martinez-Perez. “The approved budget reflects our commitment to maximizing our water resources to offset costs, and explore ways to expand future supplies to benefit our community for generations to come.” 

A full copy of the budget is available at www.sweetwater.org/budget.

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