Victoria's 19 water authorities will be among hundreds of organisations whose annual reports will be dumped upon State Parliament this morning.

The water reports will include the list of Victoria's top 200 water users, but of greater concern will be the continuing financial struggles faced by many water authorities.

Today's reports are likely to show that some of the huge losses are due to the inaccuracy of predictions about restrictions.

Bendigo's Coliban Water is believed to be one of the worst affected this year, with losses close to $30 million expected.

The organisation has been plagued by long-term budget plans that expected the region to be on stage 2 water restrictions by now.

But with much of the region on stage 4 restrictions and central Bendigo on stage 3 restrictions, the organisation is selling less water and making less money than forecast.

Coliban's situation is likely to worsen in the immediate future, with the authority's revenue forecasts built around the complete removal of water restrictions and a return to simple water-saving rules by this time next year. Many of those responsible for the long-term planning - much of which took place in 2007 - have left the organisation.

Yearly losses closer to $20 million are expected to be reported today by Grampians Wimmera Mallee Water.

The losses are linked to the retirement of assets, with the authority writing down the value of many of its irrigation channels as reform and rationalisation takes place throughout the region.

But there is cause for optimism amid the red ink at GWM Water, after the region this week retreated from stage four restrictions down to stage 1.

The shift should result in an increase in consumption and therefore revenue for the organisation in the rest of this financial year.

This year's list of top 200 water users will be the third time the list has been published, after the Government initially resisted its release for much of 2006.

The list remains largely static each year, with organisations such as Crown, the Melbourne Cricket Ground and Flemington Racecourse fixtures of the top 200.

Those on the list must improve their water use, and the Melbourne Cricket Ground has plans to build a large water recycling plant next to the stadium.