On June 12, the Sweetwater Authority Governing Board approved a $63.8 million budget for Fiscal Year 2024-25, providing funds necessary to maintain the Authority’s operations and high-quality service, while balancing rising costs with decreasing water sales.
“The Board is dedicated to maintaining reliable service to our customers in the most efficient manner possible,” said Board Chair Martinez-Perez in a press release. “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.”
The budget 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.
A full copy of the budget is available at www.sweetwater.org.
