Preparing Greater Peoria for the next 100 years
GPSD was formed in 1927 and provides a critical environmental and economic support service. As we approach our 100 year anniversary, we are undertaking a continuous multi-area capital investment program. Under this extensive project named "GPSDnext," we will build on our previous investments, rate structure, and decades of experience in water collection and treatment to preparing Greater Peoria's wastewater infrastructure for the next 100 years.
Our three main focus areas are: (1) a cleaner river (including consent decree implementation), (2) collection system rehabilitation, and (3) treatment plant rehabilitation. All of these programs are performed from a standpoint of good management that our nearly 140,000 customers deserve, and also increasing - mostly unfunded - regulatory demands.
Click on a topic below to learn more.
Our three main focus areas are: (1) a cleaner river (including consent decree implementation), (2) collection system rehabilitation, and (3) treatment plant rehabilitation. All of these programs are performed from a standpoint of good management that our nearly 140,000 customers deserve, and also increasing - mostly unfunded - regulatory demands.
Click on a topic below to learn more.
Funding GPSDnext
Due to lack of sufficient federal and state funding for clean water, most communities must self-fund the mandates imposed by federal and state regulations. At GPSD, funding GPSDnext capital projects comes from primarily three areas:
- PayGo: Pay for projects from current receipts
- GPSD includes a capital surcharge to customers for current projects, such as collection system rehabilitation and protection programs.
- Reserves: Pay for projects from savings
- As a result of good management practices, GPSD has a reserve account to use for larger projects which cannot be funded through PayGo.
- Debt Funding: Pay for projects using debt financing
- Recognizing some projects are of such a size that PayGo isn't possible and the reserves aren't sufficient, GPSD has capitalized on favorable market conditions to issue bonds to fund these projects. Although GPSD has the ability to issue over $100M in debt, GPSD currently carries approximately $28M in total debt.