News

At its January 27 meeting, Olivenhain Municipal Water District’s Board of Directors accepted the Distinguished Budget Presentation Award for its 2015-2016 fiscal year budget document from the Government Finance Officers Association of the United States and Canada. This marked the fifteenth consecutive year OMWD has achieved this award.

GFOA established the Distinguished Budget Presentation Award Program in 1984 to encourage and assist state and local governments to prepare budget documents of the highest quality that reflect both the guidelines established by the National Advisory Council on State and Local Budgeting and GFOA’s best practices. A government agency must prepare a budget document that effectively serves as a financial plan, a communications device, a policy document, and an operations guide in order to receive this award.

“OMWD’s budget document provides the public with easy access to how funds are being spent, reinforcing accountability and transparency to our customers,” stated Lawrence Watt, OMWD Board Treasurer and Finance Committee member. “GFOA has confirmed that our method of budget reporting utilizes the best practices available, and that OMWD is operating under a sustainable, structurally balanced budget that guides its organizational goals and the high level of performance that our customers have come to expect.”

Despite increased water costs, OMWD continues its mission of delivering to its customers reliable, high-quality water in a cost-effective manner. One way OMWD seeks to do this is by diversifying its water supplies, reducing reliance on costly, imported water. Cost mitigation efforts include proactive maintenance of facilities to avoid high cost of reactionary repairs, and applying for grants to offset future capital spending. These efforts serve to reduce the impact of increased water costs to OMWD customers and help OMWD operate within its annual budget.

GFOA is the professional association of state/provincial and local finance officers in the United States and Canada, and has served the public finance profession since 1906. GFOA members are dedicated to the sound management of government financial resources.