1 (10 oz.) pkg. chopped broccoli
1/2 c. chopped onion
1/4 c. green pepper, chopped (optional)
2 tbsp. butter, melted
1 can cream of chicken soup, undiluted
1 1/2 c. milk
1 c. water
3/4 lb. processed American cheese, cubed

Cook broccoli according to package, omit salt, drain.

Saute onion and peppers in butter in medium saucepan. Add broccoli and remaining ingredients. Cook over medium heat until cheese is melted. Serve immediately.