OMWD Maintains its Winning Streak with its First-Ever Two-Year Budget
OMWD Wins Distinguished Budget Award for the Twentieth Consecutive Year
Olivenhain Municipal Water District’s Board of Directors accepted at its March 17 meeting the Government Finance Officers Association’s Distinguished Budget Presentation Award. The award was presented in recognition of OMWD’s budget for Fiscal Years 2021 and 2022. This is the twentieth consecutive year OMWD has received this recognition.
In addition the board also accepted the California Society of Municipal Finance Officers’ Operating Budget Excellence Award.
“OMWD moved from an annual budget to a biennial budget this fiscal period,” explains OMWD Board Treasurer Christy Guerin. “Budgeting for two years, instead of for a single year, allows for better long-term planning and offers cost and time savings. I am pleased that OMWD was able to make this transition, while still maintaining its award-winning practices for budgeting.”
The budget demonstrated how OMWD is continuing to offer a high level of service and maintain its exemplary AAA bond rating despite rising wholesale water costs, increasing regulatory demands from Sacramento, and uncertainty surrounding the COVID-19 pandemic. OMWD continues to cover all of its costs with water rates that remain in the lower half among San Diego County water agencies for the average residential customer.
The Distinguished Budget Presentation Award is the highest form of recognition in governmental budgeting. In order to receive this award, a governmental agency must publish a budget document that meets program criteria as a policy document, as a financial plan, as an operations guide, and as a communications device.
OMWD’s budget document is accessible online at www.olivenhain.com/budget.
GFOA is the professional association of state/provincial and local finance officers in the United States and Canada, and has served the public finance profession since 1906. GFOA members are dedicated to the sound management of government financial resources.
CSMFO promotes excellence in financial management through innovation, continuing education, and the professional development of members. CSMFO members are deeply involved in the key issues facing cities, counties, and special districts in the State of California.