BCVWD Receives Excellence in Financial Reporting Award for Second 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 2018 Annual Comprehensive Financial Report (ACFR). This marks the second consecutive year BCVWD has earned this prestigious recognition.
The District’s Accounting and Finance staff prepared its second Annual Comprehensive Financial Report in early 2019 and submitted it to GFOA for review. In March 2020, BCVWD was notified that the 2018 ACFR had earned the Certificate of Achievement, continuing the District’s success following its first award for the 2017 ACFR.
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 produce 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 earning the award 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 professionals with expertise in public-sector financial reporting, including financial statement preparers, independent auditors, academics, and other finance professionals.
Continuing a Commitment to Transparency
Receiving the award for a second consecutive year demonstrates BCVWD’s continued commitment to providing comprehensive, transparent, and high-quality financial information to its Board of Directors, customers, and community.
The recognition reflects the ongoing efforts of the District’s Accounting and Finance staff to strengthen financial reporting, promote accountability, and provide the public with meaningful information about the District’s financial position. BCVWD is honored to receive the Certificate of Achievement for the second year in a row and remains committed to maintaining the highest standards of financial reporting, transparency, and accountability in serving the community.