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In accordance with the requirements of City Ordinance No. 75686, we are pleased to submit herewith the
Comprehensive Annual Financial Report (CAFR) of the SAWS for the year
ended December 31, 2007.
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 the SAWS' financial status have been included. The information contained in this report is the
responsibility of management.
Financial Highlights
- SAWS posted an Increase in Equity Before Capital Contributions of $13.2 million in 2007 despite the
highest 12-month cumulative rainfall total in the last 15 years.
- SAWS’ total equity increased by $152.9 million over the course of the year ended December 31, 2007
compared to a $ 181.9 million increase in 2006.
- Total Operating Revenues for 2007 were impacted by the significant rainfall occurring during the
year and totaled $330.3 million compared to $361.3 million in 2006.
- Operating income declined 42% to $63.8 million as a result of the record rainfall totals.
- The strength of SAWS’ balance sheet continues to improve with the SAWS’ equity ratio improving
from 47.68% at the end of 2006 to 48.30% at the end of 2007.
- SAWS’ total cash and investments increased 10.4% to $480.2 million as of December 31, 2007, with
$194 million of this amount representing unrestricted cash and investments.
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