SMWD Recognized for Financial Excellence and Transparency

This marks the 11th consecutive year that SMWD has earned this prestigious distinction. The award is the highest form of recognition in governmental accounting and financial reporting, highlighting SMWD’s ongoing commitment to financial transparency, accountability, and ethical stewardship of public funds.

According to Paul Pender, SMWD’s Director of Finance, “It’s an award that lets the public know we are following industry best practices and going beyond the minimum requirements of producing audited financial statements. Our team produces an ACFR (report) that includes extensive notes, analysis, and supplementary data that provide a clear, full picture of the District’s financial health and operations.”

While California law requires the publication of audited financial statements, SMWD has included more extensive reporting in its Annual Comprehensive Financial Report since 2015. Every year, the District’s finance and accounting teams work diligently to meet the evolving standards set forth by the GFOA. This rigorous process is reviewed and validated by an independent third-party CPA auditing firm, ensuring objectivity and credibility.

Pender emphasized the significant effort that goes into maintaining this high standard each year. “Receiving the award requires meeting more than 50 pages of criteria and guidance provided by the GFOA. This award recognizes the hard work and professionalism of SMWD’s finance and accounting teams, as well as the District’s broader institutional commitment to serving our customers in the most ethical and fiscally responsible manner possible.”

“At SMWD, financial responsibility and transparency are not only a goal, but also a promise. We are honored by the continued recognition from the GFOA, and we remain committed to excellence in service, transparency in reporting, and stewardship in all we do,” Pender continued.