Financial Information

Charleston Water System is an independent municipal utility owned by City of Charleston ratepayers.

Our operations are funded by revenue from rates and fees charged for water and wastewater service, interest-bearing investments, and revenue bond proceeds. Impact fees charged for new connections to our water and sewer systems are an important source of revenue that can only be used for capital improvements related to growth.

We do not receive tax revenue.


Charleston Water System's fiscal year is January 1 – December 31, and the annual budget is approved by our Board of Commissioners. Net balances from operations are held in cash reserves to reduce the amount of future borrowing for capital improvements.

W-9 Form

Download a copy of our 2016 W-9 (PDF)

Debt and Bond Ordinance Requirements

Charleston Water System periodically issues revenue bonds to fund capital improvement projects. Bond issues must be approved by Charleston City Council, and the ordinances that govern the borrowing terms require us to maintain net earnings equal to at least 120% of the annual principal and interest requirement in each fiscal year.

Financial Reports

Comprehensive Annual Financial Report (CAFR)

This report is prepared in conformance with generally accepted accounting principles (GAAP) and includes audited financial statements. Each year's report is completed in June of the following year. Please note that CAFRs are not updated for developments subsequent to the date of the independent auditor’s report. These reports are dated information and should be used for historical reference only.

Most Recent CAFR | View Archives

Popular Annual Financial Report (PAFR)

This is an unaudited summary of Charleston Water System's financial activities that is derived from the CAFR, but is presented in a less technical, abbreviated format. 

Most Recent PAFR | View Archives

Monthly Financial Reports

These are unaudited financial summaries. 

Most Recent Monthly Report | View Archives

For More Information

For questions about our rates, fees, budget, or to request a copy of a financial report, please contact our Finance Department at 843-727-6922 or email us.