DC Water Honored for Outstanding Budget Presentation and Financial Reporting
The Government Finance Officers Association of the United States and Canada (GFOA) has recognized the District of Columbia Water and Sewer Authority (DC Water) with two prestigious industry awards. The GFOA is a nonprofit association for government finance professionals throughout North America.
DC Waters Budget Office was honored with the Distinguished Budget Presentation Award for its Fiscal Year 2010 annual budget. The Authority satisfied nationally recognized guidelines for effective budget presentation and for how well the budget serves as a policy document, a financial plan, an operations guide, and a communication device. This was the eighth straight year DC Water won this award.
The Authoritys Financial Reporting Office garnered the Certificate of Achievement for Excellence in Financial Reporting for its comprehensive annual financial report (CAFR) for the fiscal year ended September 30, 2009. Criteria included an easily readable and efficiently organized comprehensive annual financial report. The report needed to satisfy both generally accepted accounting principles and applicable legal requirements. This marks the 13th consecutive year that DC Water won this award.
The challenge of balancing our infrastructure needs and mandatory environmental protections with affordability for rate payers is greater every year, said Chief Financial Officer Olu Adebo. We as an enterprise give great consideration and debate to our spending priorities and to the planning process. In order to communicate this to our stakeholders, we must appropriately present the information. This award confirms that our financial and budget documents communicate effectively, that we have performed our due diligence and that our planning process meets or exceeds the industry standards.
In the past year, DC Water also achieved its 13th consecutive unqualified audit, and Adebo was named a finalist in the Washington Business Journals CFO of the Year Awards.
The budget documents and CAFR are available at http://www.dcwater.com/news/financial.cfm
