LCRA for the third consecutive year has received a gold certification from the Texas Comptroller of Public Accounts for fulfilling the highest level of financial transparency. LCRA is the first river authority to achieve this level of recognition for three years as part of the Texas Transparency Check-Up Program. "I am proud that LCRA has again achieved the highest level of recognition for its financial transparency," said LCRA General Manager Becky Motal. "Making financial information available on our website is an important part of LCRA's goal to provide public utility services at competitive rates for our customers."

LCRA is a unique state government organization. It receives no state tax revenues, but operates by selling electricity, electric transmission and water services at cost. It does not levy taxes or receive specific appropriations from any government. As a conservation and reclamation district of the State of Texas, it is generally exempt from paying taxes, though its affiliates, LCRA Transmission Services Corporation and GenTex Power Corporation, pay property and sales taxes.

LCRA's FY 2013 Business Plan projects total net revenues of more than $1.2 billion for its 2013 fiscal year beginning July 1, 2012, mostly from its electric operations: electric generation (69 percent) and transmission (27 percent). The FY 2013 Business Plan projects total operating expenses during the same period will be $749.4 million. About 63 percent of that amount, roughly $468.5 million, will pay for coal, natural gas, renewable energy and purchased power to provide electricity for LCRA's 43 wholesale electric customers. The remainder will pay for LCRA's power plant, transmission, dam and parks operations, plus river and water-supply management, water operations and economic and community development services.

In LCRA's 2011 Annual Report LCRA's total assets were $4.7 billion as of June 30, 2011. Capital assets accounted for nearly $3.6 billion, or 77 percent of total assets. Capital assets increased by roughly $118 million, or 3 percent, during fiscal year 2011, as LCRA upgraded or expanded its facilities to continue providing efficient and reliable electric and water services, enhance productivity, meet growing demand and carry out environmental initiatives.

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, environmental protection, and economic development assistance. Grants are provided for community development purposes.

Wholesale rates for electricity are set by LCRA's Board of Directors. The Public Utility Commission of Texas approves transmission rates.

LCRA had an outstanding debt of approximately $3.2 billion as of June 30, 2011. Investment analysts at Fitch Ratings, Moody's Investors Service and Standard & Poor's maintained their favorable bond ratings.