2008 Annual Report - DC Water

Finance and Budget
Finance and
Budget *
Total Revenues
Total revenues (including federal grants and contributions)
were $378.1 million in fiscal year 2008, an increase of $26.3
million, or 7.5 percent over fiscal year 2008. This is primarily
due to increases of $17.1 million from federal grants, $9.5
million in wholesale wastewater treatment charges, and $6.3
million in federal government and retail customers. These
increases were off-set by a decrease of $6.7 million in interest
income.
Diversity and Stability of
Operating Revenues
The Authority’s operating revenue base is very diverse,
including established customers such as the federal
government, the District government, surrounding
jurisdictions in Maryland and Virginia, and commercial and
residential customers within the District.
Expenses
Operating expenses increased by $23.7 million, or 9.2
percent in fiscal year 2008, primarily due to a $5.6 million
increase in utilities and rent, $5.1 million increase in
depreciation expense, $4.9 million increase in personnel
services, $4.3 million increase in chemical, supplies and small
equipment purchases, $3.0 million increase in contractual
services, and $1.7 million in water purchases expense.
Utility Plant
At the end of fiscal year 2008, the Authority had $2.4 billion
invested in a broad range of capital assets (utility plant),
including its wastewater collection, wastewater treatment
and water distribution systems. This amount represents a net
increase of nearly $202.4 million, or 9.3 percent over last year
due to continued capital spending in accordance with the
capital improvement program.
“The Authority, in its twelfth year, continued its
annual tradition of building on a strong financial
foundation. As in each prior year, we again met
or exceeded all of our financial targets…”
Olu Adebo
Chief Financial Officer
* Source: DC WASA Comprehensive Annual Financial Report –
Fiscal Year 2008
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2008 a n n u a l re p o r t