The Popular Annual Financial Report (PAFR) is intended to increase
public awareness and provide the ratepayers, citizens, customers,
investors, and other interested parties with a financial overview of
our financial condition for the year ending June 30, 2011.
We are committed to investing in critical infrastructure upgrades to
reliably deliver our services, while keeping your rates affordable.
It is our goal to ensure that this report is easy to read and understandable. Although the financial
information is drawn from the audited financial statements in our fiscal year 2010-11 Comprehensive
Annual Financial Report (CAFR), using the full accrual basis of accounting, this report is not audited.
Since note disclosures have been excluded from this report, it is not intended to comply with generally
accepted accounting principles.
In the public sector, governments issue bonds
to pay for long-term capital improvements. As
with last year, interest rates have continued
to be at generational lows. Consequently,
we have secured actual fixed rates between
2.5% and 4.8% for revenue bonds issued
over the past year, saving our ratepayers
more than $400 million over the next
30 years.
Our CAFR, which provides complete financial information and disclosures in conformance with generally
accepted accounting principles with a complete description of significant accounting policies, is available
from our Finance Division at (415) 487-5254 or online at sfwater.org/Finance.
Ratepayer Savings
Credit Ratings
Our strong financial performance, prudent
fiscal management, transparent reporting
and bond issuance process have resulted
in high-quality investment grade credit
ratings from both Moody’s Investor
Services and Standard & Poor’s for
our Water and Wastewater Enterprises.
The Power Enterprise is expected to
be rated in the near future.
Water
Power
Sewer
Aa2
Not Rated
Aa3
AANot Rated
AA-
Average Borrowing Rate
Water
Power
Sewer
4.38%
N/A
3.81%
Retail Rates
Electric & Natural Gas, PG&E Residential
$126.36
Phone, Mobile/Cellular, Nation Plan 1350 (AT&T)
99.99
Cable TV Digital Starter Package, Comcast
64.99
Cable Internet, Comcast
44.95
Sewer, SFPUC Single Family Residential
42.83
Water, SFPUC Single Family Residential
27.83
SF Garbage Collection (residential/once per week)
27.55
Phone, Landline Basic Residential, AT&T Choice Basic
23.00
As of June 2011.
100
Wholesale Rates
90
The estimated impact of the 15.2% rate increase on our wholesale
customer’s monthly Fiscal Year 2010-11 water bills.
(Assumes water usage of 1,400 cubic feet)
80
70
40
City of Burlingame
Brisbane Water District
Mid-Penisula Water District
50
City of Palo Alto
North Coast County Water District
Town of Hillsobrough
City of Millbrae
Purissima Hills Water District
Coastside County Water District
Cal Water Bear Gulch District
City of San Bruno
City of Redwood City
Cal Water Mid-Peninsula District
Westborough County Water District
City of Daly City
Cal Water
South San Francisco Distict
City of Mountain View
East Palo Alto Water District
Estero Municipal
Improvement District
City of Menlo Park
Alameda County Water District
City of Milpitas
60
Municipal Water System-N.
In order to receive an Award for Outstanding
Achievement in Popular Annual Financial Reporting,
a government unit must publish a Popular Annual
Financial Report, whose contents conform to
program standards of creativity, presentation,
understandability, and reader appeal. An Award
for Outstanding Achievement in Popular Annual
Financial Reporting is valid for a period of one year
only. The San Francisco Public Utilities Commission
received a Popular Award for the first time for the
fiscal year ending June 30, 2010.
Avg. Monthly Bill
Utility Service
City of Sunnyvale
Outstanding Achievement in Popular Annual
Financial Reporting is a prestigious national
award recognizing conformance with the highest
standards for preparation of state and local
government popular reports.
A comparison of average monthly utility bills for single-family
residential customers in San Francisco.
(Assumes water usage of 600 cubic feet)
City of Hayward
The Government Finance Officers
Association of the United States
and Canada (GFOA) has given an
Award for Outstanding Achievement
in Popular Annual Financial Reporting
to the San Francisco Public Utilities
Commission for its Popular Annual
Financial Report for the fiscal year
ended June 30, 2010. The Award for
City of Santa Clara
Financial Performance
Annual Report for the Fiscal Year Ending June 30, 2011
30
20
10
$
Impact of our water rate change
8|9