Unfortunately, Arizona is the last state to get water from the Colorado. That is something that was negotiated when the CAP was put in. That is also why we have such an extensive reservoir system, in the Salt River basin.
http://www.watershedmonitor.com/contentView.aspx?DT=0&KW=WW_LwrSaltRiver
This is where a large percentage of the Phoenix area water comes from, and where we stand. With Roosevelt at 39%, we are not in the best position, but we still have water for something like 5 or 6 years, if not another drop of rain falls.