Our 2025 Financials

Eastsound Water Users Association ended 2025 in a sound financial position. The Association was profitable for the year, strengthened its cash position, and made significant investments in long-term water system infrastructure, while also managing several expense categories that exceeded the original forecast.

Where Your Water Dollars Went in 2025

Every dollar the Association received and every dollar it spent, for the year ended December 31, 2025. The width of each band is the size of the amount.

Where the money came from and where it went, 2025A flow diagram. Sources of money on the left join into the year total in the middle, then divide into categories of spending on the right. The full figures are listed in the table below this diagram.MONEY INMONEY OUTWater sales — $1,651,868 (57.6% of the year)Water sales$1.65M3rd party water sales — $606,290 (21.1% of the year)3rd party water sales$606kMembership fees — $368,531 (12.9% of the year)Membership fees$369kService & connection — $19,258 (0.7% of the year)Service & connection $19kRental property — $17,533 (0.6% of the year)Rental property $18kInterest income — $339 (0.0% of the year)Interest income $339Other income — $225 (0.0% of the year)Other income $225Drawn from reserves — $203,801 (7.1% of the year)Drawn from reserves$204kWages & benefits — $1,451,254 (50.6% of the year)Wages & benefits$1.45MDistribution — $566,558 (19.8% of the year)Distribution$567kProfessional fees — $228,933 (8.0% of the year)Professional fees$229kUtilities & facilities — $145,757 (5.1% of the year)Utilities & facilities$146kOffice & admin — $136,134 (4.7% of the year)Office & admin$136kInsurance — $130,537 (4.6% of the year)Insurance$131kTaxes — $90,598 (3.2% of the year)Taxes $91kChemicals & testing — $31,047 (1.1% of the year)Chemicals & testing $31kInterest on debt — $30,643 (1.1% of the year)Interest on debt $31kVehicles & equipment — $26,073 (0.9% of the year)Vehicles & equipment $26kBEACON / SCADA — $18,004 (0.6% of the year)BEACON / SCADA $18kTraining — $12,307 (0.4% of the year)Training $12k2025$2,867,845 through the year

Point at any band to follow it and see the exact figure.

Money in
Water sales$1,651,868
3rd party water sales$606,290
Membership fees$368,531
Service & connection$19,258
Rental property$17,533
Interest income$339
Other income$225
Total received$2,664,044
Money out
Wages & benefits$1,451,254
Distribution$566,558
Professional fees$228,933
Utilities & facilities$145,757
Office & admin$136,134
Insurance$130,537
Taxes$90,598
Chemicals & testing$31,047
Interest on debt$30,643
Vehicles & equipment$26,073
BEACON / SCADA$18,004
Training$12,307
Total spent$2,867,845

Source: EWUA Statement of Activities, Year ended December 31, 2025, Accrual basis, unaudited. Expenses are shown by natural classification. Figures in the diagram are rounded; the tables above carry them in full.

Total revenue for 2025 was $2,672,101, just 1% below forecast. Core water revenue performed well: Water Sales Income was $1,644,730, which was 9% above forecast, and 3rd Party Water Sales were $559,580, or 2% above forecast. These strong results were partially offset by lower-than-expected Membership Fee Income and Other Income, primarily due to the timing of new connections and service activations.

The Association ended the year with net income of $177,657, a 7% net margin. While this was below the forecasted net income of $284,591, the difference was driven by several identifiable expense items rather than weakness in the Association’s core revenue base.

The largest expense variances were in Professional Fees, Taxes, Bad Debt, Insurance, Utilities, and Training. Professional Fees were higher than expected due to unbudgeted legal services. Taxes reflected a tax true-up that is still being addressed, including a credit expected to be adjusted and reapplied in 2026. Bad Debt was a non-cash accounting charge related to receivables cleanup. Utilities were also above forecast due to increased energy costs.

These overages were partially offset by meaningful savings in other areas. Wages and Benefits came in $163,499 below forecast, and the Association also saw savings in Chemicals and Testing, Vehicles, and Debt Service.

One of the strongest parts of the 2025 financial picture was cash. The Association ended the year with $478,835 in cash, up from $124,584 at the start of the year. This improved liquidity placed the Association on stronger footing heading into 2026.

The Association also made substantial infrastructure investments in 2025, purchasing $693,221 in long-term assets. These investments were supported in part by new long-term borrowing. At year-end, total assets stood at $9,714,516, total long-term debt was $997,354, and total equity was $8,417,146.