The city's balance sheet showed a significant increase in water fund assets:
Total net position in the water fund was $105,537,730 in the current fiscal year, an increase of $7,878,984. Of that balance, $9,462,898 is unrestricted and $16,370,172 is restricted for primarily debt service and asset construction and acquisition. The main cause for the increase was the improvement of drought conditions in the area allowing for more usage by the citizens.Add that Stormwater Fund went up $565,000 in 2014.
The sewer fund had an increase of $2,429,371 in net position during the current fiscal year.
I have said before the April and November review times frames ensure a zero rebate for citizens. In the same fiscal year both months occur before the high use season, which generates most of the city's water revenue and profits. November occurs after the prior fiscal year close. The city's 2014 CAFR showed $2.6 million transferred out of the water fund.
Citizens know how our water bill changed over the last fifteen years. A mere ten years ago the city charged citizens $22.4 million total in water and sewer fees. Last year that number reached $39.1 million between water, sewer and stormwater fees.
There's a river of money flowing through the city's various water related funds. Apparently it only flows one way, from citizens' pockets to city coffers.
Update 4-23-15: City Council asked no questions about the water fund based on information from last month's CAFR.