Transparent financial reporting and reliable accounting practices gives taxpayers the trust that the Metropolitan Water Reclamation District of Greater Chicago (MWRD) can tackle the major task of protecting public health and the region’s water environment. The MWRD’s stable finances and budgeting have yet again earned the highest form of recognition in accounting and financial reporting by state and local governments.

The Government Finance Officers Association of the United States and Canada (GFOA) recognized the MWRD with a Distinguished Budget Presentation Award for the 2024 Budget and Certificates of Achievement for Excellence in Financial Reporting to the MWRD, the MWRD Retirement Fund and to the MWRD Retiree Health Care Trust for the Fiscal Year 2023.

The MWRD has received the Distinguished Budget Presentation Award for 40 consecutive years. The MWRD has also received the Certificate of Achievement for Excellence in Financial Reporting for 49 consecutive years, placing the MWRD in the top 2 percent of governments receiving a consecutive award. 

“We are proud to receive these accolades from the Government Finance Officers Association of the United States and Canada that demonstrate to our taxpayers the MWRD’s strong fiscal health and transparency in our accounting practices,” said MWRD President Kari K. Steele. “Thank you to the GFOA for this recognition and to our staff in Finance, Treasury and the Management and Budget Section of our General Administration Department for monitoring our finances to afford us the resources to complete this critical work.”

The GFOA also recognized the MWRD Retirement Fund and the MWRD Retiree Health Care Trust with the Certificate of Achievement for Excellence in Financial Reporting for 31 and 17 consecutive years, respectively. For the fourth consecutive year, the MWRD has provided advance funding toward pension obligations. The 2025 budget includes an anticipated $30 million in advance funding to maintain growth in the Retirement Fund’s funded ratio. The MWRD also continues to contribute $5 million annually to the OPEB (Other Postemployment Benefits) Trust Fund. 

The certificates are considered the highest form of recognition in accounting and financial reporting by state and local government, but they also provide assurance to the MWRD Board of Commissioners, management, investors, regulators, rating agencies, citizens and others that the MWRD's financial condition and results of operations are fairly presented. The certificates also demonstrate that the MWRD’s annual reports are easily readable and efficiently organized for the readers’ benefit.

“Our finances serve as the engine to our wide-ranging operations to treat wastewater, manage stormwater and protect our water resources and the public health,” said MWRD Chairman of Finance Marcelino Garcia. “Without these stable finances, we could not afford to maintain our essential services or meet long-term goals. These honors demonstrate strong finances and build the trust of taxpayers.”

In November, Fitch Ratings affirmed the MWRD’s AAA credit rating, and S&P’s Global Ratings assigned the MWRD with an AA+ credit rating. The MWRD operates on a $1.7 billion budget in 2025, enabling the MWRD to serve more than 5.19 million people throughout Chicago and 128 municipalities. The MWRD treats an average of 1.2 billion gallons of wastewater each day, transforming it into clean water in a matter of hours to be returned to local waterways. In addition, the MWRD controls 76 miles of navigable waterways, operates 34 stormwater detention reservoirs to provide regional flood protection, implements a wide variety of stormwater management projects to promote resilience across Cook County, and maintains the Tunnel and Reservoir Plan’s 110 miles of deep tunnel and three massive reservoirs that work to mitigate flooding and protect area waterways from pollution.

The GFOA recognizes the MWRD’s budget for its effectiveness as a policy document, a financial plan, an operations guide and a communications device. 

All MWRD funds, except for the MWRD’s Capital Improvements Bond Fund, derive their revenues primarily from property taxes. Approximately 58.9 percent of the 2025 appropriation is supported by property taxes in Cook County. 

To learn more about the MWRD’s annual budget, visit mwrd.org/what-we-do/budget. To read the MWRD’s annual Comprehensive Financial Reports, visit mwrd.org/what-we-do/financial-reports. To learn more about the GFOA, visit gfoa.org.