Funding and High Level Financial Information
No taxes are used to support the utility. The utility is self-supporting with revenue obtained through the sale of water and payment for services. The Board of Water Commissioners was set up pursuant to Minnesota Special Laws for 1885, Chapter 110, and provides authority to establish rates that are sufficient to pay the expenses and costs for maintenance and repairs, and the interest and principal on debt. State law establishes the Board and provides that the rates are adequate to cover the costs of operation and maintenance, and to retire all bonds.
As of December 31, 2019, the net position for the utility totaled approximately $338 million; operating revenues for the fiscal year were $63 million. The utility currently has approximately 260 budgeted full-time equivalent employees. To ensure the highest quality water, the utility continuously upgrades its operations and facilities to the most efficient and up-to-date methods and equipment available. Utility employees are expected to be conscientious, dedicated public servants, and ready to render helpful and courteous service to all customers.
Annual and Audited Financial Reports
2019 Annual Financial Report (PDF - 2.90 MB)
Overview of finances and related significant factors for Saint Paul Regional Water Services and it's various divisions.
2019 Audited Financial Report (PDF - 1.75 MB)
Detailed financial information for Saint Paul Regional Water Services.
Minnesota Public Facilities Authority Notice
On November 4, 2016, the Minnesota Public Facilities Authority (PFA) approved a financing agreement to Saint Paul Regional Water Services for improvements to their drinking water system. The PFA’s financing package consists of a $7,564,417 Drinking Water State Revolving Fund (DWSRF) loan with a 20 year term and 1.033% interest rate. The project consists of electrical improvements to the McCarrons Water Treatment Plant.
The DWSRF is supported by federal capitalization grants from the U.S. Environmental Protection Agency and state matching funds. These funds, together with PFA revenue bond proceeds, are used to make low interest loans to cities throughout the state for drinking water infrastructure projects. Since 1999, Minnesota’s DWSRF has awarded more than 400 loans totaling over $800 million.