1In a 2-quart saucepan over medium-low heat, melt 3 Tbls. butter; stir in flour, salt, pepper, and nutmeg; slowly whisk in cream; stir in cream cheese.
-Increase heat to medium; whisk mixture constantly until thick and smooth; remove from heat and set aside.
-In a skillet over medium-high heat, cook onions and garlic in remaining 2 Tbls. butter until transparent; stir spinach and water into pan.
-Reduce heat to medium-low; cover; simmer, stirring occasionally, for 8 minutes.
-Stir spinach mixture into creamy mixture; return to medium heat; heat, stirring often, until warmed throughout.
-Remove from heat; fold in Parmesan.