News

SD1 recognized for excellence in financial reporting

06/23/2017 - For the fourth year in a row, SD1 has received the highest form of recognition in the area of governmental accounting and financial reporting.

The Government Finance Officers Association of the United States and Canada (GFOA) recently awarded SD1 a Certificate of Achievement for Excellence in Financial Reporting for the utility’s latest comprehensive annual financial report (CAFR). In addition to the certificate of achievement, the GFOA awarded SD1’s Finance Department an Award of Financial Achievement to recognize its work in preparing the utility’s Fiscal Year 2016 CAFR.

SD1’s CAFR details the utility’s finances following guidelines from the Government Accounting Standards Board and Generally Accepted Accounting Principles. It includes an independent auditor’s review of SD1’s financial statements, which were deemed to be clean and fairly presented.

SD1’s CAFR was judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.

“SD1 is committed to providing safe and reliable wastewater and storm water services in a financially responsible and transparent way,” said SD1 Executive Director Adam Chaney. “This recognition acknowledges that commitment and staff’s efforts to make SD1 a more customer-centered and community-focused utility. We’re proud of this accomplishment and eager to build on this success to better serve our customers.”

View SD1’s Fiscal Year 2016 CAFR.


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