Olivenhain Municipal Water District Receives Highest Achievement for Financial Reporting
Olivenhain Municipal Water District’s Board of Directors accepted at its November 18 meeting the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada. This marks the twenty-fifth consecutive year OMWD has received the award.
The award recognizes OMWD’s Comprehensive Annual Financial Report for the fiscal year ending June 30, 2019. Providing an overview of OMWD’s fiscal management, the CAFR contains details about budgetary controls, debt administration, and investment policies.
“Our board is honored that OMWD’s sound financial practices have been acknowledged for a quarter of a century,” said OMWD Board Treasurer Larry Watt. “As evidenced by this award, OMWD strives to accurately and fairly communicate our financial statements and operating procedures in a clear and direct manner, inviting community involvement.”
Members of GFOA’s professional staff and its Special Review Committee experienced in public-sector financial reporting reviewed OMWD’s CAFR. These experts determined that OMWD’s document well exceeded basic requirements of generally accepted accounting, operating in the spirit of full disclosure of data.
GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals. Established in 1945, the CAFR program assists state and local governments in ensuring that users of their financial statements have the information they need to assess their financial health.
OMWD’s comprehensive annual financial report is available at www.olivenhain.com/cafr.