Mushroom Risotto

1. In medium saucepan, bring vegetable broth and water to simmer. Reduce heat to low; cover and keep broth hot. 2. In a large, heavy saucepan, melt butter with olive oil over medium heat. 3. Add chopped shallots and sauté for 1 minute. 4. Add mushrooms and cook until tender and juices are released, about 8 minutes. 5. Add rice and stir to coat. 6. Add Sherry and simmer until liquid is absorbed, stirring frequently, about 8 minutes. 7. Increase heat to medium-high and add 3/4 cup hot vegetable broth; stirring frequently, simmer until liquid is absorbed. 8. Add remaining hot vegetable broth 3/4 cup at a time, allowing broth to be absorbed before adding more. 9. Stir frequently until rice is just tender and mixture is creamy, about 20 minutes. 10. Stir in Parmesan cheese and chopped fresh thyme and serve warm. 11. Refrigerate any leftovers.