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Learn about the Idaho Water Supply Bank, its purposes, operations, revenue, and future plans, including rental agreements and financial insights.
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2011 Water Supply Bank Update Monica Van Bussum March 15, 2012
What is “the Bank?” • Exchange market operated by the IWRB to facilitate marketing of water rights • Provides mechanism to temporarily change or protect water rights • Operated by IDWR for the Idaho Water Resource Board (IWRB) Source: IDAPA 37.02.03.01 and Idaho Code 42-1764
What are the purposes of the Bank? • Encourage the highest beneficial use of water • Provide a source of water supplies to benefit new and supplemental uses • Provide funding source for improving water user facilities and efficiencies Source: Idaho Code Section 42-1761 and IDAPA 37.02.03
What isn’t “the Bank?” • Not a rental pool
Vocabulary • Lease – into the Bank • Rent – from the Bank
2011 Volume • Rental volume: 28,816 AF • 2010 – 23,191 AF • Approximate leased volume: 160,945 AF • Problematic
The Numbers Rental agreements • Number of activerental agreements by type
The Numbers 2011 improvements • Backlog reduction • Data cleanup • Fiscal reporting • Receipting change
The Numbers “The Backlog” • Normal operating levels
The Numbers “The Backlog” • Normal operating levels
The Numbers Looking ahead • Continued process improvement • Rental tracking, GIS and modeling • Write clerical handbook • Reminders to indefinite lessors
2011 Revenue • $192,824 in rental fees • $144,580 to lessors • $44,607 to IDWR • Multiple lessor/renter agreements • Private agreements
2011 Revenue – Lease Fee • $27,500 generated by new lease fee • Original projection $37,000 annually • Fee did not go into effect until April • Projection for 2012: $34,000
Overall revenue picture • $44,607 + $27,500 = $72,107 • Staffing Cost: $69,000 • Surplus: $3,107 • 2010: -$35,488 • Total Calculated WSB Cost: $84,000 • $84,000 - $72,107: -$11,893