Germantown Water
What Germantown Water filed with PSC about the water it produced and the water it billed for, 2016–2025 — and what the filing does and does not let anyone verify.
- Non-revenue water, FY2025
- 24.4% Computed from filed system input and billed consumption.
- system input volume 706.4 sheet Sheet1, cell H192 · thousands of gallons, declared in the column header, divided by 1,000 · net of water sold to wholesale customers, which is the volume entering this utility's own distribution system
- billed authorized consumption 534 sheet Sheet1, cell I192 · thousands of gallons, declared in the column header, divided by 1,000
- Recoverable annually
- — Not estimable from what PSC publishes. A loss percentage cannot be priced without the volume it is a share of.
- Balance check
- inapplicable PSC derives water losses from system input minus authorized consumption, so this decomposition holds by construction.
2026-09-08-5ef7d6e2fdbd.csvSheet1 H192
Where this figure comes from
(system input − billed authorized) ÷ system input × 100
From data/archive/wi-psc-water-audit/2026-09-08-5ef7d6e2fdbd.csv (SHA-256 5ef7d6e2fdbdac2b), retrieved 2026-09-08 from the published source.
What the record shows
24.4% non-revenue water in FY2025, higher than 73% of the 562 Wisconsin systems that filed that year.
- The figure is roughly flat across the record.
- The figure moved from 17% to 2% between FY2020 and FY2021.
Debt outstanding, and what covers the interest
$4.6M of long-term debt outstanding at the end of 2025, across 3 bond issues. This is principal outstanding on the water utility's own balance sheet, on the Commission's own test: it files no electric operating report.
| Year | Debt outstanding | Issues | Net revenue | Interest | Coverage |
|---|---|---|---|---|---|
| 2025 | $4.6M | 3 | -$343,842 | $367,631 | -0.94 |
| 2024 | $3.9M | 2 | $266,157 | $332,696 | 0.80 |
| 2023 | $4.2M | 2 | $1.0M | $343,686 | 2.92 |
| 2022 | $4.5M | 2 | $1.1M | $32,297 | 35.48 |
| 2021 | $689,413 | 2 | $16,050 | $26,714 | 0.60 |
| 2020 | $800,910 | 2 | $149,970 | $30,785 | 4.87 |
| 2019 | $911,329 | 2 | $107,083 | $34,605 | 3.09 |
| 2018 | $1.0M | 2 | $279,706 | $38,156 | 7.33 |
| 2017 | $1.1M | 2 | $565,849 | $41,633 | 13.59 |
| 2016 | $1.2M | 2 | $714,308 | $44,843 | 15.93 |
-0.94 — what Germantown Water's net revenue was against its interest in 2025, and it is negative: the utility's operating revenue did not cover its own operation and maintenance that year. That is what the filing says, and it publishes as filed.
Net revenue over interest: the Commission's account 400 (operating revenue), less 401–402 (operation and maintenance), less 408 (taxes), divided by 427 plus 430 plus 431 (interest on long-term debt, on municipal advances, and other). Depreciation is filed under 403 and is not deducted, because what pays interest is cash.
This is not a debt service coverage ratio and must not be read as one. Debt service is principal repaid plus interest, and the principal repaid in a year is not filed anywhere in this source. A covenant ratio is defined in the bond documents, which set out their own revenues, their own operating expenses and their own exclusions. Two utilities with identical filed figures can have different covenant ratios.
Figures are as filed with the Commission under Wis. Admin. Code ch. PSC 185 and are not audited as presented. Nothing here is a credit opinion, an implied rating, or a judgement that any figure is sufficient. Source: Public Service Commission of Wisconsin, annual report financial schedules, 2016–2025, retrieved 2026-09-12.
PSC derives water losses from system input minus authorized consumption, so these parts sum to the whole on every filing. What a filing can get wrong is which of these numbers were measured.
Where these volumes come from
- System input 706.4 MG sheet Sheet1, cell H192 · thousands of gallons, declared in the column header, divided by 1,000 · net of water sold to wholesale customers, which is the volume entering this utility's own distribution system
- Billed authorized 534 MG sheet Sheet1, cell I192 · thousands of gallons, declared in the column header, divided by 1,000
- Unbilled authorized 92.7 MG sheet Sheet1, cell O192 · thousands of gallons, declared in the column header, divided by 1,000
- Apparent loss 0 MG sheet Sheet1, cell R192 · thousands of gallons, declared in the column header, divided by 1,000
- Real loss 79.8 MG sheet Sheet1, cell U192 · thousands of gallons, declared in the column header, divided by 1,000
From data/archive/wi-psc-water-audit/2026-09-08-5ef7d6e2fdbd.csv (SHA-256 5ef7d6e2fdbdac2b), retrieved 2026-09-08 from the published source.
| Year | NRW | Input (MG) | Balance |
|---|---|---|---|
| 2025 | 24.4% | 706.4 | inapplicable |
| 2024 | 15.1% | 634.3 | inapplicable |
| 2023 | 9.2% | 720.9 | inapplicable |
| 2022 | 8.2% | 668.3 | inapplicable |
| 2021 | 1.6% | 752.4 | insufficient |
| 2020 | 17.2% | 791.1 | inapplicable |
| 2019 | 21.0% | 648.9 | inapplicable |
| 2018 | 17.1% | 702.9 | inapplicable |
| 2017 | 18.8% | 665.2 | inapplicable |
| 2016 | 22.9% | 755.7 | inapplicable |
Other Wisconsin systems
PSC publishes no county or connection count for these systems, so they cannot be ranked against this one. These are other filers, not comparables.
- Lancaster Municipal Water
- Land O Lakes Sanitary District No 1
- Lannon Municipal Water
- Laona Sanitary District No 1
- La Valle Municipal Water
- Lawrence Water
- Bagley Municipal Water
- Lena Municipal Water And Sewer
Where is it going?
This page says how much. It cannot say which accounts, which zones, or which meters. That takes your billing history, your meter reads, and your production data reconciled against each other.
Our Water Loss Recovery Snapshot is three weeks, one flat fee, and the deliverable is a ranked list of specific accounts and zones with dollars and a confidence on each.
See what the Snapshot delivers Email us about Germantown WaterSources and corrections. Every figure above is either filed by the utility or computed from filed figures, and each one says which. If a number here is wrong, it is either wrong in the filing or wrong in our reading of it — tell us which and we will correct the page and say what changed.
- Public Service Commission of Wisconsin, municipal annual report Schedule W-15. Retrieved 2026-09-08 from data/archive/wi-psc-water-audit/2026-09-08-5ef7d6e2fdbd.csv. https://apps.psc.wi.gov/ARS/WEGSqueries/default.aspx