Departments
Finance
The finance department of the MWA works to ensure that the rules of the Authority are adhered to in purchasing and in paying for purchases, and that the funds of the Authority are spent in the most economical way possible. The finance department strives to be accurate in accounting for the assets of the Authority, to invest the funds of the Authority to earn as much as safely possible, and to cooperate with any outside agency who might review MWA finances.
Part of the mission of the Macon Water Authority is to "provide quality products and reliable services to our customers." This is a goal that the Finance Department takes seriously, because customers of the MWA not only expect good water and sewer services from their public utility, but sound financial management as well.
One aspect of sound financial management is evident in the budgeting process. The financial department of the MWA is in charge of receiving the annual budgets from the different departments of the Authority. These budgets are reconciled and compiled to create a working budget for the Authority.
2004 marks the first time that the budget includes a Capital Improvement process — a bold five-year plan for capital purchases by the Authority. The Board of Directors must approve every budget compiled by the staff of the MWA before it is implemented.
The purchasing department is in charge of contracting for all supplies, contractual services, and improvements to property owned and operated by the MWA. Most of the goods and services obtained by the Authority are secured through a competitive bidding process, ensuring that the customers of the MWA are getting the most for their money.
One of the most important functions of the finance department is to keep accurate financial records by the accounting office. The accounting office is responsible for the accounting of the MWA, Macon Soils (a non-profit subsidiary of the Authority).
The finance department is also in charge of monitoring the investments of the Authority. The finance department invests surplus or reserve funds of the MWA, according to approved, regulated financial investment standards.
Sometimes, to generate funding for certain projects, the MWA sells bonds to generate revenue. The finance department is responsible for writing these bond documents, when bond issues are forthcoming.
The Authority is required to publish within six months after the close of each fiscal year a complete set of financial statements, presented in conformity with general accepted accounting principles, and audited in accordance with generally accepted auditing standards by a firm of licensed certified public accountants.
For six consecutive years, the Government Finance Officers Association of the United States and Canada (GFOA) has awarded a Certificate of Achievement for Excellence in Financial Reporting to the Macon Water Authority for its comprehensive annual financial report. To win this award, a government must publish an easily readable and efficiently organized comprehensive annual financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements.
For more information on the Finance Department, please contact Arleen Samuels at (478) 464-5630.