Financial Summary
Our clean audit result this year reflects strong financial stewardship, proper record-keeping, and sound fiscal management practices from staff. AlexRenew’s overall financial condition, as well as operating and capital investments in meeting water quality requirements, remained strong and stable during Fiscal Year 2025. AlexRenew met or exceeded the minimum standards established by its financial policies, maintaining a debt service coverage ratio of 1.9 and ending the Fiscal Year with unrestricted cash reserves equal to 792 days of operating expenses.
For additional details, view AlexRenew's Annual Comprehensive Financial Report and FY2025 Financial Infographic.
AlexRenew Recognized by the Government Finance Officers Association
AlexRenew received the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting, the highest form of recognition for state and local government financial reporting. This is the 18th time AlexRenew has received this award.
In the last few years, we have witnessed an incredible transformation at AlexRenew. Our RiverRenew program, Alexandria’s largest-ever infrastructure project, saw the completion of several critical milestones across our community in Fiscal Year 2025. Dedicated crews put the finishing touches on several components of our massive tunnel system, worked to revitalize the areas around our construction sites, and completed the Hooffs Run Interceptor ahead of schedule. The project provided immediate water quality benefits for Hooffs Run and was followed by the restoration and reopening of African American Heritage Park, which had been partially closed for three years. The effort included new wayfinding signage to help tell the story of Alexandria’s rich African American history to future generations, as well as the installation of 4,000 native plants and shrubs. In Old Town, RiverRenew’s complex infrastructure work neared completion at Pendleton Street while a beautiful new promenade took shape. The additional public space will provide community members with a platform to connect with a healthier Potomac River.
At our wastewater treatment plant, a 12-story deep shaft, initially used to construct the new tunnel, was transformed into a state-of-the-art pumping station. On the surface, a new superstructure grew three stories. Once this final component of RiverRenew is complete, it will enable our staff to treat 120 million gallons of combined sewage each year that would otherwise pollute our rivers and streams.
As the sun sets on RiverRenew construction, our organization is looking to the future. We’re making strategic investments that will enable our team to meet changing regulations, support goals for a cleaner Chesapeake Bay, and improve our resiliency as we continue to provide reliable service to our community. Over the next decade, several major processes will receive reinvestment and upgrades, including our biosolids systems, headworks, and filtration systems. These initiatives, coupled with RiverRenew, will reshape our operations, allowing us to maintain regulatory compliance, be resilient in the face of an evolving climate, and set the stage for a fishable and swimmable future in Alexandria. To support these major projects, our staff is doubling efforts around safety, asset management, and workforce development — all critical components to future operations.
As we navigate a rapidly evolving landscape, our progress will be guided by collaboration — with community and governmental partners, regulators, technology leaders, and, most importantly, the people who depend on us every day. Together, we’re building a utility that doesn’t just keep up with the pace of change but helps define it.
