Central Basin Recognized for Excellence in Financial Reporting

Central Basin Recognized for Excellence in Financial Reporting
Posted on 08/21/2018
Financing

For Immediate Release 
Date: 08/21/2018
Contact:  Joseph Legaspi 
Phone: (323) 201- 5542

 

 

 

 

 

CENTRAL BASIN RECOGNIZED 
FOR EXCELLENCE IN FINANCIAL REPORTING 

Commerce, CA – For the 13th consecutive year, the Central Basin Municipal Water District has been recognized by the Government Finance Officers Association (GFOA) with the Certificate of Achievement for Excellence in Financial Reporting. The Certificate of Achievement is the highest form of recognition governmental accounting and financial reporting. 

“I’d like to commend our Finance Department for their commitment to providing the highest levels of service to the District and our community through transparent financial reporting,” said Board President Robert Apodaca. “At Central Basin we pride ourselves on keeping our constituents informed on the matters related to our agency.” 

The GFOA has been in existence for over a century and represents nearly 20,000 public finance professionals in the United States and Canada. The mission of the organization is to advance excellence in state and local government financial management. The GFOA established the Certificate for Achievement for Excellence in Financial Reporting in 1945 to encourage and assist state and local governments to go above and beyond the minimum requirements of generally accepted accounting principles and to recognize those entities whose financial reporting embodies the spirit of transparency and full disclosure. 

Central Basin was recognized for the production of its fiscal year 2016-2017 Comprehensive Annual Financial Report (CAFR). The CAFR is intended to provide the District’s Board of Directors, the District’s customers, the public and other interested parties with a broad financial outlook of the District, which is reviewed by an independent professional auditor. 

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Central Basin is a public agency that wholesales imported water to cities, mutual water companies, investor-owned utilities and private companies in southeast Los Angeles County, serving a population of 1.7 million. In addition, Central Basin provides the region with recycled water for municipal, commercial and industrial uses. Formed in 1952, Central Basin is committed to ensuring a safe and reliable water supply for the region.

 

Central Basin Recognized for Excellence in Financial Reporting.pdf