Beaver Lake was included in the comprehensive plan for flood control and other purposes in the White River Basin by the Flood Control Act of 1954. Construction began in 1960 and was completed in 1966. Total cost was $6,200,000.00. This cost was amortized over a 50-year period, at an interest rate of payments to be accomplished annually from project revenue, which is derived primarily from hydropower sales. The Southwestern Power Administration (SPA), Department of Energy markets the power produced and accomplishes the business of disbursements for overhead, which includes SPA O&M expenses and construction cost repayment, net revenue is then tendered to the U.S. Treasury general fund.