Water Infrastructure Financing in Utah

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Presentation transcript:

Water Infrastructure Financing in Utah Todd Stonely, P.E. Project Funding Manager

Revolving Loan Funds The Board of Water Resources manages four loan funds: Revolving Construction Fund (1947) Cities Water Loan Fund (1974) Construction & Development Fund (1978) Water Infrastructure Restricted Account (2016)

Revolving Construction Fund 1947-1986: Consistently funded from General Fund (Annual Avg. $1.4M) 1987-92: No appropriations 1993-Present: Annual appropriations for Dam Safety (Avg. $4.1M)* *Includes one time appropriations of $11M (2016) and $8.4M (2018) TOTAL = $137,000,000

Cities Water Loan Fund 1974-1989: Consistently funded from General Fund (Annual Avg. $1.4M) 1990-Present: No appropriations 2009: Legislature raided fund ($3.6M) TOTAL = $18,000,000

Construction & Development Fund 1992-2006: Annual approp. from Sales Tax (Avg. $3.8M) 2007-Present: Sales Tax (Avg. $13.9M) TOTAL = $312,000,000

Water Infrastructure Restricted Account 2016: $5.0M from General Fund 2018: $7.7M from Sales Tax Future Years: Gradual ramp up to full 1/16 cent Sales Tax ($25-30M) TOTAL = $12,700,000

Revloving Funds Overseen by Board of Water Resources (WIRA – Includes legislative process) Eligible entities: Water and Irrigation co. and Political Subdivisions of the State Any water-related project, including flood control Primarily low-interest loans Dam safety grants (limited) New legislative appropriations not required for carryover

Revolving Funds, cont. Funds not tied to State Water Plan State Water Plan often identifies areas of need Water supply funding not integrated with water quality funding

Other Sources of Funding Emergency appropriations (1977) State funds used as matching funds for federal funds (WaterSMART grants primarily) Public private partnerships?

Project Priority Public health, safety, or emergency projects Municipal water projects Agricultural water projects Projects with significant other funding

Lessons Learned Revolving funds work very well!! Strong support from Legislature, rural, and urban areas Priority systems and creative financing options help when funds are lean

Recommendations Collect and report accurate water data Robust planning efforts Work with key water users to make the case for needed investments Use existing mechanisms to distribute new money when possible