$HOW ME THE MONEY
Team Profile: LVMWD´s Accounting and Finance
Does the
idea of balancing your checkbook, coordinating bill
payments and managing your investments make your head
throb? Well, multiply that out to a $47 million annual
budget, and you begin to understand the challenges
and capabilities of LVMWD´s dynamic Accounting and
Finance team.
With service
to LVMWD ranging from 2 to 24 years, this team brings
lots of financial experience, knowledge and skill to
their jobs. "We have a solid team," states
Violet Liou, Finance Manager. LVMWD has been acknowledged
with both state and national awards for its financial
reporting and the team´s commitment to excellence over
the years.
While number
crunching may seem dull to some, the Accounting and
Finance team faces diverse and challenging projects
throughout the year. Working within a framework of
multiple overlapping cycles of responsibilities, the
team develops and manages the budget, pays bills, manages
investments, supports audits, and develops reports
to document the history and progress of finances.
There is
a lot of research and analysis required to support
the team´s internal customers. This includes providing
information to LVMWD´s Board of Directors to guide
policy setting and financial decisions for the district,
technical assistance and advice in budget management
for units throughout the organization, and ongoing
daily number crunching and documentation to assure
accountability. All team members are committed to accuracy,
completeness, and timeliness as they work at varied
aspects of accounting, including bank reconciliations,
accounts receivable, payments, and cash flow management.
"Even with
advanced electronic technology, human judgment is still
required to recognize key elements in accounting processes
and to make reasonableness checks", states Sandra
Schmidt, Director of Finance and Administration.
The team´s
success is highly public and closely monitored, not
only by the oversight of LVMWD´s Board, but also by
required reports and annual reviews by an outside auditor.
Team members personally gauge success by how well they
support customers´ needs. They pride themselves on
accurate, prompt answers to customers; timely payments
to vendors; thorough information for the Board of Directors;
complete reports to regulators; and accurate, on-time
payrolls.
It's the
public´s money and LVMWD´s Accounting and Finance team
handles it with care. |
