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Health & Fitness

Government Finance Officers Assoc. presents awards to MWRD for financial reporting

The MWRD received four awards from the Government Finance Officers Association at its Board of Commissioners meeting on March 7.

 

An organization’s ability to communicate its financial story to the public can pose challenges because of the complexities involved, but the Metropolitan Water Reclamation District of Greater Chicago (MWRD) has excelled in doing so. Mr. Jeff Esser, Executive Director/CEO of the Government Finance Officers Association (GFOA) of the United States and Canada presented four distinguished awards to the MWRD for financial reporting excellence for 2010 and 2011:

• The MWRD has received the Distinguished Budget Presentation Award for 28 consecutive years;

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• The MWRD has received the Certificate of Achievement of Excellence in Financial Reporting for 37 consecutive years – the MWRD is in the top two percent of governments receiving a consecutive award in this category;

• The MWRD Retirement Fund received the Certificate of Achievement for Excellence in Financial Reporting for 19 consecutive years.

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• The MWRD Retiree Health Care Trust received the Certificate of Achievement for Excellence in Financial Reporting for five consecutive years.

These certificates are the highest form of recognition in the area of accounting and financial reporting by state and local government.  The certificates provide assurance to the MWRD Board and management,  investors, regulators, rating agencies, the general citizenry and others that the MWRD’s financial condition and results of operations are fully and fairly presented. The Certificates also demonstrate that the MWRD's Comprehensive Annual Financial Report (CAFR) is both easily readable and efficiently organized for the readers' benefit.

An impartial panel conducts the judging then presents honors based on an organization’s ability to clearly communicate its financial story.

“The MWRD strives to fully disclose how our funds are spent,” said MWRD Executive Director David St. Pierre. “We recognize that we are entrusted to properly manage and report on our finances so we are continually reviewing our processes. We’re proud of the work we do to maintain our AAA Bond rating as this leads to lower interest costs, and we are proud that our financial reports are recognized for honors.”

The GFOA is a nonprofit professional association serving approximately 17,500 government finance professionals with offices in Chicago, IL and Washington, D.C. Additional information about the award can be found at www.gfoa.org.

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