The $2 billion investment in the SWIFT is protected by the Texas Treasury Safe Keeping Trust Company (Texas Trust), a special entity created by the legislature to manage, invest and safeguard state funds. Funds in the SWIFT are leveraged through investments by the Texas Trust along with the issuance of revenue bonds through the State Water Implementation Revenue Fund for Texas (SWIRFT). The proceeds from SWIRFT revenue bond sales are used to fund state water plan projects through financial assistance to political subdivisions of the state. Money from SWIFT is transferred to SWIRFT through a legal mechanism called a bond enhancement agreement. Transferred funds from the SWIFT, combined with borrowers' loan repayments, are utilized to repay the TWDB revenue bond debt issued through the SWIRFT.
A copy of the SWIFT investment policy and annual report can be found on the Texas Trust website.
Cumulative SWIFT Loan Status
Status of loan repayments and assessment of risk of default; Funds to support projects for rural political subdivisions, agricultural water conservation, agricultural irrigation projects, water conservation, and reuse.
Bond Transaction Summaries
Amount of revenue bonds issued, terms of bonds, and terms of bond enhancement agreement.
Financial Assistance Applications Received
Administrative and Operating Expenses
Administrative and operating expenses incurred in developing the state water plan and providing financial assistance for projects included in the plan:
- 2015: $650,566.82 and 9.15 full-time equivalent (FTE) employees
- 2016: $1,010,026.40 and 14.96 FTEs
- 2017: $983,979.28 and 13.92 FTEs