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State Revolving Fund

Please Note: SRF Program phone numbers have recently changed. Please see our SRF contacts page for the most current numbers. Thank You.

What is State Revolving Fund (SRF)?

Advanced Wastewater Treatment PlantSRF programs provide financial savings for projects that benefit the environment, including protection of public health and conservation of local watersheds.  Federal and state contributions fund loans for a wide variety of water quality projects including all types of stormwater, watershed protection or restoration, and estuary management projects, as well as more traditional municipal wastewater treatment projects including water reuse and conservation projects.

It allows states to provide funding for their highest-priority water quality needs. Funds to establish or capitalize the Clean Water State Revolving Fund (CWSRF) programs are provided through federal government grants and state matching funds that are equal to 20 percent of federal government grants.  CWSRF monies are loaned to communities at lower than market rate interest-rates, and loan repayments are recycled back into the program to fund additional water quality protection projects. The revolving nature of these programs provides for an ongoing funding source that will last far into the future.  Wastewater treatment plant construction

SRF in Florida

Funding for wastewater construction began in 1957 with the Federal construction grants program and accelerated dramatically with the passage of the Clean Water Act in 1972. During the next 16 years Florida received an average of $125 million grant dollars per year. Amendments to the Clean Water Act in 1987 called for the replacement of the long-standing federal Construction Grants program with the innovative CWSRF program.

The first loans from the Clean Water SRF were made in 1989 to the City of Tampa for $17,928,000. By the end of FY 2015, the program will exceed $4 billion in loans. The Safe Drinking Water Act of 1996 established a Drinking Water SRF program to protect the safety of drinking water. The Drinking Water SRF made its first grant in August 1998 to Lloyd Water Works, and its first loan to Tradewinds Utilities in October 1998.

Today, the SRF program is by far DEP's largest funding program and makes $200-300 million or more available, primarily to local governments, each year. Funds are currently available for Clean Water and Drinking Water SRF projects.

Contact Us

Main number - (850) 245-2835
Email - SRF_Reporting@dep.state.fl.us
For full list of program contacts and address please see SRF contacts page.

Interest Rates

The CWSRF financing rate is determined using the Bond Buyer 20-Bond GO Index average market rate for the full weeks occurring during the three months in the preceding fiscal quarter and applying that average rate to a formula which also uses the affordability index and population served or to be served as variables in the calculation. The affordability calculation spreadsheet is available to provide an estimation of the loan financing rate.  Note that the rate calculated is only valid in the current quarter. There are up to 1.2% in additional rate reductions that may be assessed based on Davis Bacon requirements, Buy American requirements, asset management plan, and “green” projects. The DWSRF financing rate is 60% of the market rate.

CWSRF Financing Rate Formula

FR = MR – 4 + (4/(1+(100/AI)3)) – 1/Log(P)


FR = financing rate
MR = Market Rate
AI = Affordability Index
P = Population served or to be served by the sponsor


Graph showing SRF interest rates over time. Bond Rate = 3.63, DWSRF Rate = 2.18, and CWSRF Annual Average Rate = 0.93.

Program Contacts

Davis Bacon Guidance

Wastewater and Stormwater Project Loans

Small Community Wastewater Facilities Grants

Drinking Water Project Loans

CWSRF/DWSRF Side by Side Program Comparison

Operator Certification

Contaminated Private Wells

Green Project Business Cases



Frequently Asked Questions

State Bond Loan Program

OCULUS (Electronic Document Management)

Other Water Project Funding Sources

Match your project to other funding sources!

Project assistance Request Forms are available. They will be reviewed by all groups, agencies and programs that provide financing to Florida utilities.  For more information on available funding, see the Florida Rural Water Association's brochure.


To sign up for future updates from the Division of Water Restoration Assistance on the availability of water project funding and other related news, please enter your email address below.


Get information on all SRF loans from our interactive SRF mapping application.

Map of Florida showing locations of SRF funded projects.

Visit "Florida's Water - Ours to Protect"

Last updated: February 10, 2016

  2600 Blair Stone Road M.S. 3500   Tallahassee, Florida 32399   850-245-8336 (phone) / 850-245-8356 (fax) 
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