GFOA honors MWRD with financial reporting excellence
The Government Finance Officers Association of the United States and Canada (GFOA) has once again recognized the Metropolitan Water Reclamation District of Greater Chicago (MWRD) for a sterling record of transparent and responsible financial reporting.
This marks 47 consecutive years in which the MWRD has received a Certificate of Achievement for Excellence in Financial Reporting, placing the essential utility in the top two percent of governments receiving a consecutive award. In addition, the GFOA honored the MWRD with the Distinguished Budget Presentation Award for the 2022 Budget and Certificates of Achievement for Excellence in Financial Reporting for the MWRD Retirement Fund and the MWRD Retiree Health Care Trust for the Fiscal Year 2021 Annual Comprehensive Finance Reports (ACFR).
The MWRD has received the Distinguished Budget Presentation Award for 38 consecutive years and the Retirement Fund and Retiree Health Care Trust have been recognized for 29 and 15 consecutive years, respectively.
“Congratulations to our Finance, Treasury, Budget and Retirement Fund departments for these awards that salute their due diligence, comprehensive planning and steadfast attention to taxpayer resources,” said MWRD President Kari K. Steele. “The Government Finance Officers Association highlights our commitment to strong financial stewardship, fiscal management and transparency.”
As part of the GFOA honors, an impartial panel judged the MWRD’s ACFRs to assess how the MWRD meets stringent GFOA standards in demonstrating a “spirit of full disclosure” to clearly communicate a financial story and motivate readers to view these reports. The MWRD posts its budget and ACFR at mwrd.org/finances.
The MWRD operates a $1.4-billion budget for 2023. Thanks to the MWRD’s responsible fiscal management, strong reserves and stable outlook, the MWRD maintains an AAA credit rating from Fitch Ratings and an AA+ rating from S&P Global.
“We are honored to receive four prestigious awards from the Government Finance Officers Association,” said MWRD Chairman of Finance Marcelino Garcia. “These pristine records of financial excellence and budget transparency assure commissioners, management, investors, regulators, rating agencies, citizens, and most importantly the taxpayer, that the MWRD’s financial health is strong.”