Overview on Central Valley Project Financing, Cost Allocation, and Repayment Issues

As part of its strategic plan, the Delta Vision Task Force is considering in detail the entire California water infrastructure.

This report summarizes and expands upon four individual reports prepared for the Task Force on the financial characteristics and status of the Central Valley Project (CVP).

It begins with an overview of CVP history, organization, costs, and repayment. It then focuses on the overall repayment responsibilities of irrigation and municipal and industrial (M&I) contractors as well as those responsibilities specifically for Sacramento Valley and San Joaquin Valley water users.

Next is a review of the summary financial statements of the 10 largest San Joaquin Valley contractors based on reports filed with the California State Controller. Following is a discussion of CVP power generation revenues, expenditures, and repayment.

The report is then summarized and conclusions presented, with subsequent appendices showing detailed financial statements and repayment responsibilities by individual contractors; and information on power sales over time to various users.