Revenue increased about $10.5 million for the year ended Sept. 30 primarily because Berthoud-based Northern Water received nearly $9 million from Front Range water entities, including Denver Water, Aurora Water and the Pueblo Board of Water works, for water releases from Granby Reservoir.
Northern Water provides water to portions of eight Colorado counties with a population of 860,000 people and serves more than 640,000 acres of irrigated farm and ranch land.
Last year, Northern Water completed several contracts and agreements related to the Upper Colorado River Endangered Fish Recovery Program. The goal of the program is to recover four unique fish species listed as endangered under the Federal Endangered Species Act.
Because they divert water from the Colorado River, Northern Water and other water users have made a permanent commitment to release 10,825 acre-feet of water annually. Northern Water releases more than 5,400 acre feet from the Granby Reservoir to support the project. An acre foot equals 326,000 gallons and is enough to serve 2.5 households annually.
The one-time compensation paid to Northern Water for the project came this year, according to the annual report. Northern Water’s expenses for the project came in previous years, said John Budde, financial services department manager for Northern Water.
“We have spent a lot of money” on the project, Budde said. “We’ve been paying ongoing costs.”
Northern Water ended 2013 with $241.6 million in assets compared with. $231.4 million in assets in 2012. The organization also had $26.5 million in liabilities last year compared with $29 million in liabilities the prior year.
The organization had expenses of $29.2 million in 2013, down from $31.2 million in 2012.