BCVWD Receives Excellence in Financial Reporting Award for Fifth Consecutive Year

Beaumont-Cherry Valley Water District (BCVWD) is proud to announce that it has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada (GFOA) for the District’s 2022 Annual Comprehensive Financial Report (ACFR).

This marks the sixth consecutive year BCVWD has earned this prestigious recognition. The District’s Accounting and Finance staff prepared its sixth Annual Comprehensive Financial Report in early 2023 and submitted it to GFOA for review. In April 2024, BCVWD was notified that the 2022 ACFR had earned the Certificate of Achievement.

Excellence in Financial Reporting

GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program in 1945 to encourage state and local governments to go beyond the minimum requirements of generally accepted accounting principles and prepare comprehensive annual financial reports that demonstrate transparency and full disclosure.

The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment for a public agency and its management.

Reports submitted to the program undergo a professional review by GFOA staff and members of its Special Review Committee. Reviewers include individuals with expertise in public-sector financial reporting, including financial statement preparers, independent auditors, academics, and other finance professionals.

Five Consecutive Years of Excellence

Receiving the Certificate of Achievement for a fifth consecutive year demonstrates BCVWD’s continued commitment to sound financial management, transparency, and accountability.

Since preparing its first comprehensive annual financial report, the District has consistently met GFOA’s standards for excellence in governmental accounting and financial reporting. Each year of recognition reflects the ongoing work of BCVWD’s Finance and Administration Department to provide the Board of Directors, customers, and community with clear, comprehensive, and meaningful information about the District’s financial position.

The Certificate presented to BCVWD recognizes the District specifically for its Annual Comprehensive Financial Report for the fiscal year ended December 31, 2022. BCVWD is proud to receive this recognition for the sixth consecutive year and remains committed to maintaining high standards of financial reporting, responsible stewardship of public resources, transparency, and accountability in serving the community.