Financials
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, 2021, the net position for the utility totaled approximately $371 million; operating revenues for the fiscal year were $69 million. The utility currently has approximately 262 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
2022 Annual Report (PDF - 2.90 MB)
Overview of finances and related significant factors for Saint Paul Regional Water Services and it's various divisions.
2023 Audited Financial Report (PDF - 1.75 MB)
Detailed financial information for Saint Paul Regional Water Services.
Capital Project Financing Notices
Minnesota Public Facilities Authority Notice: On May 10, 2021 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 $15,400,000 Drinking Water State Revolving Fund (DWSRF) loan with a 20-year term and 1.0% interest rate. The project consists of design and preconstruction services for improvements to the existing 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 its start in 1999, Minnesota’s DWSRF has awarded more than 433 loans totaling over $982 million, providing over $188 million in interest savings to local governments and their taxpayers.
This notice will remain on SPRWS's public website until construction of the new facility has been completed.
Minnesota Public Facilities Authority Notice: On May 12, 2022 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 $46,000,000 Drinking Water State Revolving Fund (DWSRF) loan with a 20-year term and 2.428% interest rate. The project consists of widespread improvements to the existing 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 its start in 1999, Minnesota’s DWSRF has awarded more than 433 loans totaling over $982 million, providing over $188 million in interest savings to local governments and their taxpayers.
This notice will remain on SPRWS's public website until construction of the new facility has been completed.
Minnesota Public Facilities Authority Notice: On June 21, 2023 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 $25,000,000 Drinking Water State Revolving Fund (DWSRF) loan with a 20-year term and 1.940% interest rate. The project consists of widespread improvements to the existing 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 its start in 1999, Minnesota’s DWSRF has awarded more than 433 loans totaling over $982 million, providing over $188 million in interest savings to local governments and their taxpayers.
This notice will remain on SPRWS's public website until construction of the new facility has been completed.
Minnesota Public Facilities Authority Notice: On June 3, 2024 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 $29,000,000 Drinking Water State Revolving Fund (DWSRF) loan with a 20-year term and 2.378% interest rate. The project consists of widespread improvements to the existing 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 its start in 1999, Minnesota’s DWSRF has awarded more than 433 loans totaling over $982 million, providing over $188 million in interest savings to local governments and their taxpayers.
This notice will remain on SPRWS's public website until construction of the new facility has been completed.
