{"id":37598,"date":"2022-09-16T13:56:16","date_gmt":"2022-09-16T20:56:16","guid":{"rendered":"https:\/\/www.kpud.org\/?page_id=37598"},"modified":"2022-12-13T11:10:43","modified_gmt":"2022-12-13T19:10:43","slug":"financial-reports","status":"publish","type":"page","link":"https:\/\/www.kpud.org\/governance\/transparency\/financial-reports\/","title":{"rendered":"Financial Information"},"content":{"rendered":"<h2><span data-text-color=\"secondary\"><strong>Budgeting<\/strong><\/span><\/h2>\n<p>Historically, KPUD has budgeted on an annual basis, but in 2020 we implemented a biennial (two-year) budget. The biennial budget process allows us to think strategically over multiple years instead of just balancing the budget for a single year. This biennial process does allow for amendments, adjustments, and mid-biennium review.<\/p>\n\r\n\r\n\t<div class=\"faqs-list\">\r\n\r\n\t\t\r\n\t\t\t<article id=\"post-39787\" class=\"row post-39787 hwcp-faqs type-hwcp-faqs status-publish hentry faqs_category-budgets\">\r\n\r\n\t\t\t\t<div class=\"col\">\r\n\t\t\t\t\t<h3>Current Budget<\/h3>\r\n\t\t\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/www.kpud.org\/wp-content\/uploads\/2023-2024-BUDGET-November-Final.pdf\" target=\"_blank\" rel=\"noopener\">2023-2024 KPUD Biennial Budget (PDF)<\/a><\/p>\n\t\t\t\t\t\r\n\t\t\t\t\t<div class=\"related-content\">\r\n\r\n\t\t\t\t\t\t<div class=\"row\">\r\n\r\n\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t<\/div>\r\n\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t<\/div>\r\n\r\n\t\t\t<\/article>\r\n\r\n\t\t\r\n\t\t\t<article id=\"post-39785\" class=\"row post-39785 hwcp-faqs type-hwcp-faqs status-publish hentry faqs_category-budgets\">\r\n\r\n\t\t\t\t<div class=\"col\">\r\n\t\t\t\t\t<h3>Past Budgets<\/h3>\r\n\t\t\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/www.kpud.org\/wp-content\/uploads\/2022-Budget-Final-as-Amended-11.9.21.pdf\" target=\"_blank\" rel=\"noopener\">2022 Final Budget as Amended (PDF)<\/a><\/p>\n<p><a href=\"https:\/\/www.kpud.org\/wp-content\/uploads\/November-Final-Budget-2021.pdf\" target=\"_blank\" rel=\"noopener\">2021 Final Budget as Amended (PDF)<\/a><\/p>\n<p><a href=\"https:\/\/www.kpud.org\/wp-content\/uploads\/2020-November-Final-Budget.pdf\" target=\"_blank\" rel=\"noopener\">2020 Final Budget as Amended (PDF)<\/a><\/p>\n\t\t\t\t\t\r\n\t\t\t\t\t<div class=\"related-content\">\r\n\r\n\t\t\t\t\t\t<div class=\"row\">\r\n\r\n\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t<\/div>\r\n\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t<\/div>\r\n\r\n\t\t\t<\/article>\r\n\r\n\t\t\r\n\t<\/div>\r\n\r\n\n<h2><span data-text-color=\"secondary\"><strong>Property Taxes<\/strong><\/span><\/h2>\n<p>KPUD receives property taxes from properties located in incorporated and unincorporated areas of Kitsap County. The 2022 property tax rate for KPUD was $0.052708 per $1,000 assessed value, resulting in a tax collection total of $2,636,497 in 2022. At this tax rate, an owner of a $300,000 property paid $15.81 property taxes to KPUD in 2022.<\/p>\n<p>KPUD uses the property taxes to fund two county-wide purposes, water resource management and the expansion of fiber internet (broadband) infrastructure.<\/p>\n<h4>County-Wide Purpose: Water Resource Management<\/h4>\n<p>Approximately, 24% of property tax revenue received is dedicated to water resource management and education (approximately $632,759 in 2022).<\/p>\n<p>Funding is used to:<\/p>\n<ul>\n<li>Maintain a comprehensive hydrologic monitoring network to gather data on Kitsap&#8217;s water resources. This network consists of 29 precipitation monitoring stations, 28 streamflow monitoring stations, and 125 wells. Data from this network informs studies like the <a href=\"https:\/\/www.usgs.gov\/centers\/washington-water-science-center\/science\/kitsap-groundwater-model\" target=\"_blank\" rel=\"noopener\">United States Geologic Survey&#8217;s groundwater model of the Kitsap Peninsula<\/a> and management decisions like construction of regional drinking water infrastructure.<\/li>\n<li>Conduct semi-annual monitoring of shoreline wells for seawater intrusion.<\/li>\n<li>Provide water resource related education to schools and community groups in Kitsap County.<\/li>\n<\/ul>\n<h4>County-Wide Purpose: Fiber Internet (Broadband) Infrastructure<\/h4>\n<p>The remaining, 76% of tax revenue (approximately $2,003,738) is spent to expand access to broadband telecommunications through the installation of fiber internet infrastructure.<\/p>\n<p>Funding is used to:<\/p>\n<ul>\n<li>Continue to construct fiber infrastructure throughout Kitsap County with over 500 miles currently complete.<\/li>\n<li>Build middle-mile fiber infrastructure to unserved and underserved communities in Kitsap County.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Budgeting Historically, KPUD has budgeted on an annual basis, but in 2020 we implemented a biennial (two-year) budget. The biennial budget process allows us to think strategically over multiple years instead of just balancing the budget for a single year. This biennial process does allow for amendments, adjustments, and mid-biennium review. Property Taxes KPUD receives [&#8230;]\n","protected":false},"author":20,"featured_media":0,"parent":37439,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"_links":{"self":[{"href":"https:\/\/www.kpud.org\/wp-json\/wp\/v2\/pages\/37598"}],"collection":[{"href":"https:\/\/www.kpud.org\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.kpud.org\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.kpud.org\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.kpud.org\/wp-json\/wp\/v2\/comments?post=37598"}],"version-history":[{"count":31,"href":"https:\/\/www.kpud.org\/wp-json\/wp\/v2\/pages\/37598\/revisions"}],"predecessor-version":[{"id":39949,"href":"https:\/\/www.kpud.org\/wp-json\/wp\/v2\/pages\/37598\/revisions\/39949"}],"up":[{"embeddable":true,"href":"https:\/\/www.kpud.org\/wp-json\/wp\/v2\/pages\/37439"}],"wp:attachment":[{"href":"https:\/\/www.kpud.org\/wp-json\/wp\/v2\/media?parent=37598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}