Public Utilities Finance
Welcome to the Finance Division
Finance and Accounting Section is responsible for all of the financial functions and information for the three enterprise funds: Water, Wastewater, and Stormwater; with each fund reporting its own complete set of financial statements. This separation includes cash and tangible assets as each fund pays for all of their direct and indirect costs. The section also includes payroll, budget, and accounts payable and receivable functions. Additionally, the section is responsible for obtaining financing through local and national bond markets to assist the various enterprise funds in financing projects. Financial accounting is on an accrual basis following Governmental Accounting Standards Board accounting standards (GASB) with a fiscal year beginning July 1 and ending June 30. Annual certified financial reports are completed every year as of June 30 by an outside CPA firm. This report includes financial statements, budgets, bonded debt, number of employees, sales, and other cost or benchmarking information. We also use a variety or performance standards to measure the health and strength of the Utilities; for more information regarding these standards, see the links below.
Water Facts & Figures
Did you know that Salt Lake City was voted as having the best tasting water in the country? In 2007, NBC’s “Today” show hosted an “unscientific” tasting with professional wine tasters sampling 11 municipal water samples, including Salt Lake City’s. After the blind tasting, Salt Lake City’s water was identified as “bright…non-flawed…it was delicious.” Follow this link to the whole story
Water is measured in 100 Cubic foot units on your water bill. One unit of water is 748 gallons of water.
Imagine one unit of water billed is equal to a full-sized pick-up truck bed with water 2.5 feet deep , or three queen-sized mattresses.
One 16-ounce bottled water is about $1.50 to purchase at the market. Public Utilities charges $0.00118 per gallon. If you buy just ten 16-ounce bottles of water per month or $15 per month, you could have purchased 17 units of water, or 12,716 gallons, from Public Utilities for the same cost as that bottled water. Although this varies, some indicators state that some households spend $10 a week on bottled water. This amounts to about $500 per year. At this rate, a family could purchase 423,728 gallons of tap water, or 1.3 acre feet of water, or more than enough water for a family of five for one year.
Water is very often measured in acre feet. An acre foot of water contains 325,900 gallons.
An acre foot of water will provide a family of 5 enough water for a year, without being very conservation minded. The cost of an acre foot of water to a family of five for one year is $382 (excluding the monthly base fee). This averages to 36 units per month.
The average household in our service area uses 7 to 8 units per month during the winter season, and 32 to 34 units during each of the summer months.