The Macon Water Authority

790 Second Street • Macon, GA 31202-0108 • (478) 464-5600

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MWA Excellence in Financial Reporting

Dec 1, 2014 by Chris Wood, Ph.D.

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The MWA Finance Department presents the Certificate of Achievement for Excellence in Financial Reporting to the Board of Directors during the November Authority Board Meeting.

During the November meeting of Macon Water Authority (MWA), Executive Vice-President of Business Operations Guy Boyle presented the Authority Board Members with the Certificate of Achievement for Excellence in Financial Reporting, which the utility received recently from the Government Finance Officers Association of the United States and Canada (GFOA). This marked the 17th consecutive year the MWA has received this industry honor.

The Authority earned this honor for the quality of its most recent Comprehensive Annual Financial Report (CAFR). The Authority also produced a Popular Annual Financial Report (PAFR), which received similar recognition from GFOA officials. The PAFR is an easier to read, consolidated version of the CAFR, which contains highlights of MWA financial statements, including sources of revenues, explanation of expenses, an overview of the system and operations, and much more.

“I am proud to be associated with a Board, a Finance team, and an employer that takes as much pride in responsible stewardship of resources as this Authority does,” says Boyle. “This award is a testament to the professional focus at all levels of this organization that continues to benefit our customers and our community.”

To be considered for a Certificate of Achievement for Excellence in Financial Reporting, a government or special-purpose entity such as a water authority must submit a comprehensive annual financial report (CAFR), in accordance with generally accepted accounting principles. In addition, the Authority has to include an independent auditor’s report and clean audit opinion, based on the fair presentation of its financial statements.

The GFOA has been promoting the Certificate of Achievement for Excellence in Financial Reporting program since 1945, and it is considered the most prestigious award for Government sector financial reporting.

Officials from GFOA note that by earning the Certificate of Achievement for Excellence in Financial Reporting, a utility is providing evidence of greater financial transparency for citizens, customers and other stakeholders of the organization.

In addition, by participating in this program, the MWA may be viewed more favorably by credit rating agencies, which may positively influence future bond issue interest rates or other means of long-term financing.

Finally, winners of the Certificate of Achievement for Excellence in Financial Reporting have demonstrated a commitment to compliance with the highest standards in the industry for accounting and financial reporting.

Media Contact:
Chris Wood, Ph.D.
770-757-1681 (phone)
jcwood@uga.edu OR chris@jwapr.com

Tagged: macon water authority, mwa, certificate of achievement for excellence in financial reporting, government finance officers association of the united states and canada, gfoa

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