RCH Water Supply Corporation 2025 Annual Financial Report

Dear RCH Members,

On behalf of RCH, I am pleased to share that the 2025 Annual Financial Report has been completed and is now available for public review.

The independent auditor issued a clean opinion, confirming that RCH’s financial statements fairly present the Corporation’s financial position, operating results, and cash flows in accordance with generally accepted accounting principles.

RCH generated $6.09 million in operating revenue, primarily from water service, and incurred $5.52 million in operating expenses, resulting in positive operating income of $566,664. After interest activity, developer equity buy-in fees, and other items, RCH increased its net assets by $427,775 during the year.

The financial report reflects a year of significant investment in infrastructure. RCH spent $11.70 million on fixed assets, with $11.93 million reported as construction in progress at year-end. These investments demonstrate continued focus on system improvements and long-term service reliability.

RCH ended the year with $1.81 million in cash and cash equivalents and $2.24 million in financial assets available within one year for general expenditures. Long-term debt totaled $18.61 million, tied to system improvements, with scheduled debt service extending through 2045.

One comment the auditor mentioned was that during the RCH audit, no journal notes were made during review to note areas that may need deeper review, and they can't remember the last time that happened. This is a very good sign of how our financials and bookkeeping are maintained.

Our auditor, Snow Garrett and Williams, even had their draft audit reviewed independently from them as yet another step to ensure correct reporting.

Overall, the 2025 financials show that RCH remains financially stable, continues to maintain positive operating results, and is making meaningful investments in the infrastructure needed to serve our members and community for years to come.

The full 2025 Annual Financial Report is available on the RCH website here:
View the 2025 Annual Financial Report

Sincerely,
Robin Mayall, 

CEO, RCH