The St. Vrain Water Authority (Authority) was formed in 2019 for the purpose of owning and operating the St. Vrain Water Treatment Plant to provide potable water for the benefit of the Members, the Town of Firestone and the Little Thompson Water District (LTWD). The St. Vrain Water Treatment Plant will treat raw water that each Member delivers to the Plant, and then deliver treated water to a water tank on site where the Member’s will be provided a location for a pump station to transfer treated water into their respective distribution systems. The St Vrain Water Authority will charge members for treated water delivered to them based on rates
to be determined in the future. In the interim, the Members will periodically be required to provide an advance of funds to the Authority to cover administrative costs the Authority may incur until such time as the Authority can deliver treated water and generate its own revenue.
The Town of Firestone and the Little Thompson Water District participate in the administration and operation of the Authority based on their subscribed capacity in the St Vrain Water Treatment Plant, currently being 83% Firestone and 17% LTWD. The Town of Firestone appoints four Directors and the LTWD appoints one
Director of the five-member Board of Directors of the Authority. The Authority currently has no employees.
The Authority reports one major governmental fund: 1) General Fund - This is the Authority's operating fund, which accounts for all activities of the government. The attached budget is the budget for the governmental fund of the Authority.
The budgetary basis of accounting for the Authority is the modified accrual basis.