Last updated on April 16, 2014 at 1:21 EDT

Central Basin Honored For Outstanding Financial Reporting 6th Year in A Row

November 28, 2011

District receives prestigious award for practicing excellence in financial transparency and disclosure

COMMERCE, Calif., Nov. 28, 2011 /PRNewswire-USNewswire/ — The Central Basin Municipal Water District has received a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA). This is the sixth consecutive year that Central Basin has been recognized for achieving the highest standards in government accounting and financial reporting. The GFOA enhances and promotes the professional management of governments for the public benefit by identifying and developing financial policies and best practices.

“We are honored to have received this award for six years in a row,” said Central Basin Board President Ed Vasquez. “As a public agency, financial reporting that is accurate, comprehensive and fully transparent is an essential part of our civic duty. We continue to work hard to demonstrate public accountability and transparency in all that we do.”

The GFOA established the Certification of Achievement for Excellence in Financial Reporting Program in 1945. The program encourages and assists state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports in the “spirit of full disclosure” to clearly communicate the agency’s financial story. The GFOA annually recognizes individual government agencies, like Central Basin, that achieve that goal.

“Central Basin is a fiscally strong public agency with sound financial practices,” said Central Basin General Manager Art Aguilar. “We are very proud of the fact that we manage our water district in a responsible way that allows us to provide consumers the lowest rates possible.”

Central Basin is a public agency that wholesales imported water to cities, mutual water companies, investor-owned utilities and private companies in southeast Los Angeles County, serving a population of more than 2 million. In addition, Central Basin provides the region with recycled water for municipal, commercial and industrial uses. Formed in 1952, Central Basin is committed to ensuring a safe and reliable water supply for the region. For more information please visit www.centralbasin.org.

Contact: Valerie Howard
Phone: 323.201.5552

SOURCE Central Basin Municipal Water District

Source: PR Newswire