2018 COMPREHENSIVE ANNUAL

2018

COMPREHENSIVE ANNUAL FINANCIAL REPORT

For the years ended December 31, 2018 and 2017 Denver, Colorado

Prepared by Finance Department

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TABLE OF CONTENTS

I - INTRODUCTORY SECTION

Letter of Transmittal Board of Water Commissioners Executive Leadership Organization Chart Certificate of Achievement

II - FINANCIAL SECTION

Section II Contents Independent Auditors' Report Management's Discussion and Analysis (Unaudited) Basic Financial Statements:

Statements of Net Position Statements of Revenues, Expenses, and Changes in Net Position Statements of Cash Flows Statements of Fiduciary Net Position Statements of Changes in Fiduciary Net Position Notes to Basic Financial Statements Required Supplementary Information Exhibit I-A: Schedule of Changes in Net Pension Liability and Related Ratios Exhibit I-B: Schedule of Board Pension Contributions Exhibit I-C: Other Post-Employment Benefits Plan Schedule of Funding Progress Other Supplemental Information Exhibit II-A: Revenue Water Improvement and Refunding Bonds Outstanding Exhibit II-B: Summary of Revenue Bond Debt Service Requirements Outstanding Exhibit II-C: Schedule of Bond Retirements for Revenue Bonds Outstanding Exhibit II-D: Schedule of Bond Interest for Revenue Bonds Outstanding

III - STATISTICAL SECTION

Section III Contents and Explanations Statistical Summary, Last 10 Years

A - Financial Trends Information

Net Position by Component, Last 10 Years Statements of Revenues, Expenses and Changes in Net Position, Last 10 Years Revenue, Expenses and Changes in Net Position, 10 Year Graphs

I-1 I-7 I-8 I-9 I - 10

II - 1 II - 3 II - 5

II - 18 II - 20 II - 21 II - 23 II - 24 II - 25

II - 65 II - 66 II - 67

II - 69 II - 70 II - 71 II - 72

III - 1 III - 3 III - 5 III - 7 III - 8 III - 9

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TABLE OF CONTENTS (continued)

III - STATISTICAL SECTION

B- Revenue Capacity Information

Denver Water Service Area Customer Service Data, Last 10 Years Water Sold In Dollars by Type of Customer, Last 10 Years Treated Water Sold in Gallons by Type of Customer, Last 10 Years Operating Revenue and Related Water Consumption Sale of Treated Water between Denver and Outside City Sale of Non-Potable Water between Denver and Outside City Customer Accounts for Treated Water Water Rate Schedules Summary of Water Rates, Last 10 Years Sales of Treated Water for Resale 10 Largest Retail Customers - Water Consumption and Revenue

C- Debt Capacity Information

Ratios of Total Outstanding Debt by Type, Last 10 Years Pledged-Revenue Coverage, Last 10 Years Ratios of General Obligation Bonded Debt Outstanding, Last 10 Years Ratios of Water Revenue Bonded Debt Outstanding, Last 10 Years

D- Demographic and Economic Information

Demographic and Economic Overview of the Denver Metropolitan Area

E - Operating Information

Employees by Division, Last 10 Years Capital Assets by Function, Last 10 Years Budget to Actual - Receipts and Expenditures, Last 5 Years Water Collection System Operating Indicators by Function

III - 11

III - 13 III - 14 III - 15 III - 18 III - 21 III - 23 III - 25 III - 26 III - 27 III - 31 III - 36 III - 37

III - 39

III - 41 III - 42 III - 43 III - 44

III - 45

III - 47

III - 55

III - 57 III - 60 III - 61 III - 62 III - 63

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