With the release of the 2024 Popular Annual Financial Report (PAFR), TMWA continues to make it easier than ever for our customers to access and understand the utility’s financial position. The PAFR is a summary of the much longer and more detailed Annual Comprehensive Financial Report (ACFR), which TMWA is required to submit to the State of Nevada each year. Audited by a third party, the ACFR is a formal, highly detailed document that ensures full transparency into TMWA’s financial position. The ACFR was approved by TMWA’s Board of Directors last month. Key highlights of the PAFR include important financial events in 2024 and perspective on TMWA’s financial milestones. A significant action of fiscal year 2024 was the approval of a rate plan which includes rate increases of 4.5%, 4.0% and 3.5% for fiscal years 2024, 2025 and 2026, respectively. Rate increases at TMWA are scrutinized by not only our staff and leadership, but also by our Board of Directors, which is comprised of elected representatives from the City of Reno, City of Sparks and Washoe County.

“As a community-owned utility, it’s important to keep operating costs low and production capabilities robust—while maintaining the delivery of exceptional water quality as our highest priority,” explained Matt Bowman, TMWA’s Chief Financial Officer. “By reviewing this report online, customers will get insight into how TMWA accomplishes this from a financial perspective.”

Please visit tmwa.com/financial-information to access both the ACFR and PAFR.