RIVERSIDE, CA – In September 2019, the Government Finance Officers Association of the United States and Canada (GFOA) awarded Western Municipal Water District (Western) the Certificate of Achievement for Excellence in Financial Reporting for the District’s Fiscal Year 2017-18 Comprehensive Annual Financial Report (CAFR).
“The goal is to be transparent with our customers by presenting a financial report that shows where each dollar goes,” said Finance Director Kevin Mascaro. “Every dollar received from water or sewer rates, property taxes or other sources is carefully accounted for and audited by internal and independent accountants.”
The GFOA Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
“As stewards of public dollars, Western is committed to honest, open and transparent public service,” said Mascaro. “Because of our responsible and conservative approach, we are able to maintain existing systems and ensure 100 percent reliability of customers’ water and sewer service.”
The CAFR was reviewed by an impartial panel from other government agencies to meet the high standards of the program, which includes demonstrating a constructive "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal.
For more information about Western’s financial reports, visit www.wmwd.com/288/Financial-Statements. To learn more about the GFOA’s CAFR Program, visit www.gfoa.org/award-programs/certificate-achievement-excellence-financial-reporting-program-cafr-program.
Western Municipal Water District is one of the largest public agencies in Riverside County providing water and sewer services to nearly a million people, both retail and wholesale customers who live, work and play within 527-square miles in one of California’s most populous regions.