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Archived Reports from Previous Years

	For Years Ended December 31, 2008 and 2007

In accordance with the requirements of City Ordinance No. 75686, we are pleased to submit herewith the Comprehensive Annual Financial Report (CAFR) of the San Antonio Water System for the year ended December 31, 2008.

We believe that the financial and statistical information presented in the report is accurate in all material respects and that all disclosures necessary to enable the reader to gain an understanding of SAWS’ financial status have been included.

Financial Highlights

• SAWS’ total equity increased by $155.9 million over the course of the year ended December 31, 2008 compared to a $152.9 million increase in 2007.
  
  
• Operating revenues totaled $377.9 million in 2008, an increase of 14.4% from the $330.3 million for 2007.
  
  
• Operating income increased 34% from $63.9 million in 2007 to $85.6 million for 2008.
  
  
• SAWS’ equity before capital contributions increased $27 million in 2008 as compared to $13.2
  million in 2007.
  
  
• Capital asset additions were $357 million in 2008, up 17% from additions of $305.6 million in 2007.
  
  
• The strength of SAWS’ balance sheet continues to improve with the SAWS’ equity ratio improving from 48.3% at the end of 2007 to 49.1% at the end of 2008.