The Lower Colorado River Authority provides a multitude of vital services to Texans. Whether it’s contributing reliable power to the Electric Reliability Council of Texas market, making sure power is delivered through the more than 5,500 miles of transmission lines LCRA Transmission Services Corporation operates, or working to increase and preserve the water supply for more than a million people, LCRA’s mission is to enhance the quality of life of the Texans we serve through water stewardship, energy and community service.
LCRA, established by the Texas legislature in 1934, is a unique, nonprofit political subdivision of the state. LCRA receives no state tax revenues, but operates by selling electricity, electric transmission and water services. It does not levy taxes or receive specific appropriations from the government. As a conservation and reclamation district of the state of Texas, it is generally exempt from paying taxes, though its nonprofit corporations, LCRA TSC and GenTex Power Corporation, pay property and sales taxes.
In LCRA’s fiscal year 2021 business and capital plans, LCRA projects total net revenues of $982.3 million for its 2021 fiscal year beginning July 1, 2020, mostly from its electric operations: transmission (51%) and wholesale power (44%). The FY 2021 business plan projects total net expenses during the same period will be $528.4 million. Included in that amount is the cost of natural gas, coal and purchased power to provide electricity for LCRA’s wholesale electric customers. Also included are the costs of LCRA’s power plant, transmission, dam and parks operations, plus river and water supply management, water operations and community development services.
In LCRA’s fiscal year 2020 financial statements, LCRA’s total assets and deferred outflow of resources were $6.55 billion as of June 30, 2020. Capital assets accounted for $4.94 billion, or 75% of total assets and deferred outflow of resources. Operating revenues were $1.04 billion for the year ended June 30, 2020.
Information concerning the LCRA debt program and LCRA Transmission Services Corporation debt program is available at lcrabonds.com.
Reinvesting in communities
Each year, LCRA reinvests a portion of water and electric revenues into communities through direct services and grants. These services include parks, public safety and environmental protection. LCRA and its customers provide grants for community development purposes.