Financials – Budgets
The Leeds Domestic Waterusers Association
Financials & Budgets
2013 – Present* (*once year is completed)
The LDWA is classified as a § 501(c)(12) organization, which according to the IRS website is classified as:
Benevolent Life Insurance Associations, Mutual Ditch or Irrigation Companies, Mutual or Cooperative Telephone Companies, or Like Organizations (if 85 percent or more of the organization’s income consists of amounts collected from members for the sole purpose of meeting losses and expenses)
Leeds Domestic Waterusers Associations follows all fiscal management rules and regulations provided by the State of Utah. As such, all financial decisions, acquisitions, and transactions are fully transparent and budgets and bond issues are approved by the Board, in accordance to the Associations ByLaws. Annual audits, loans and bond disclosures/updates are also performed and provided to the public as well. You may review these documents below.
The Basics of Budgeting for a Non-Profit Organization
- Budgeting for non-profits – by National Council of Non-Profits
- Five myths (and realities) about zero-based budgeting – by McKinsey & Company
- Zero-based budgeting revisited: Why this time is different – by McKinsey & Company
LOANS [DDW/DEQ “PROJECT UPGRADE” LOAN #3F138]
LDWA continues to pay down the principal of the “Project Upgrade” DDW/DEQ #3F138 Loan WITHOUT charging additional fees or increasing rates to Shareholders. As of February 2023, we have paid $831,000.00 off the original principal amount of $1,104,000.00, with a current balance due of $242,000.00.