Water utility posts higher revenue as WIFA loan draws fund NWRRDS work

Town staff told council that the water utility reported higher revenue in 2025–26 largely tied to project financing for the NWRRDS project. “Overall revenues are greater than the prior fiscal year by about $5,400,000 primarily due to other financing sources, which represent WIFA loan draws used to fund our, NWRRDS project,” CFO Mr. Gephardt said.

Gephardt said water sales themselves rose by about $622,000 (3.4%) because of higher consumption in a dry summer, but the larger change in total sources reflects timing and recording of WIFA draws. He explained that WIFA functions like a drawdown where revenue is recorded when the town draws to pay project expenditures, which affects reported sources and fund‑balance figures across fiscal years.