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Water District Awarded Certificate of Financial Excellence for 20th Straight Year

Las Virgenes Municipal Water District (LVMWD) was recognized for excellence in government financial reporting by the Government Finance Officers Association.

Post Date:08/16/2019 11:00 AM

LVMWD is honored to receive the Government Finance Officers Association (GFOA)’s Award for Outstanding Achievement in Popular Annual Financial Reporting (PAFR) and Certificate of Achievement for Excellence in Financial Reporting for its comprehensive annual financial report (CAFR) 

LVMWD was awarded both distinctions as a result of its dedication to transparency in financial reporting, demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story. The District annually produces the CAFR to ensure full disclosure of the District’s financial positon. The District began producing a PAFR in 2014 to provide a summarized form of the CAFR in an easier to read and understandable format in order to more effectively communicate the District’s financial position to a wider audience.

“The District is proud to receive the Certificate of Excellence,” said LVMWD General Manager David Pedersen. “This award is the highest form of recognition in government accounting and financial reporting and further demonstrates LVMWD’s commitment to transparency and accountability in all its operations.”

In order to qualify for the PAFR, the District was required to submit its comprehensive annual financial report and have received GFOA’s Award of Financial Reporting Achievement for it as well.

“LVMWD is proud of its tradition of adhering to the highest standards of financial management and transparency,” said LVMWD Director of Finance and Administration Don Patterson. “The receipt of the CAFR and PAFR Awards from GFOA is the result of the dedication of a wide variety of staff who are focused on ensuring the effective utilization of our customer’s resources to deliver high-quality drinking water, recycled water, and sanitation services.”

The Government Finance Officers Association of the United States and Canada is a major professional association servicing the needs of over 20,000 appointed and elected local, state, and provincial-level government officials and other finance practitioners.

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