Water Infrastructure Financing in Utah: Overview of Revolving Loan Funds
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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
1979 & 1978:
$25M
1983:
$20M
1986:
$ 3M
1990:
$15M
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
1.
Public health, safety, or emergency
projects
2.
Municipal water projects
3.
Agricultural water projects
4.
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
Utah's water infrastructure financing system is managed through revolving loan funds established by the Board of Water Resources. These funds date back to 1947 and have been consistently funded from various sources to support projects related to water supply, flood control, and dam safety. The program is overseen by the Board of Water Resources and is designed to provide low-interest loans and grants for water-related projects without the need for new legislative appropriations. The funds are not tied to the State Water Plan, allowing for flexibility in addressing areas of need in water supply separate from water quality funding.
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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) No appropriations Annual appropriations for Dam Safety (Avg. $4.1M)* 1987-92: 1993-Present: *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) No appropriations Legislature raided fund ($3.6M) 1990-Present: 2009: TOTAL = $18,000,000
Construction & Development Fund 1979 & 1978: 1983: 1986: 1990: 1992-2006: $25M $20M $ 3M $15M Annual approp. from Sales Tax (Avg. $3.8M) Sales Tax (Avg. $13.9M) 2007-Present: TOTAL = $312,000,000
Water Infrastructure Restricted Account 2016: 2018: Future Years: $5.0M from General Fund $7.7M from Sales Tax 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 1. Public health, safety, or emergency projects 2. Municipal water projects 3. Agricultural water projects 4. 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
