FOR IMMEDIATE RELEASE Contact: Sherri Seitz
August 9, 2017 949-837-7050 x239
Lake Forest, CA — The El Toro Water District (ETWD) was awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR) for the fiscal year ended 2016. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting and its attainment represents a significant accomplishment by a government and its management.
“El Toro Water District has long been a model of financial responsibility, and it is nice to see our efforts rewarded”, stated ETWD Board Treasurer Mark Monin.
In addition to the award that El Toro Water District received, an Award of Financial Reporting Achievement (AFRA) was awarded to El Toro Water District’s Accounting department for their contribution in making this achievement possible.
“We are thrilled that our commitment to transparency has been recognized by the Government Finance Officers Association” said Robert R. Hill, General Manager. “Our finance department continually strives to exceed expectations and it is great to see them awarded along with the District.”
The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal. The goal of the program is not to assess the financial health of participating governments, but rather to ensure that users of their financial statements have the information they need to do so themselves.
Reports submitted to the CAFR program are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee (SRC), which comprises individuals with expertise in public sector financial reporting and includes financial statement preparers, independent auditors, academics, and other finance professionals.
The Government Finance Officers Association (GFOA), founded in 1906, represents public finance officials throughout the United States and Canada. The association’s more than 19,000 members are federal, state/provincial, and local finance officials deeply involved in planning, financing, and implementing thousands of governmental operations in each of their jurisdictions. GFOA’s mission is to promote excellence in state and local government financial management. GFOA has accepted the leadership challenge of public finance. To meet the many needs of its members, the organization provides best practice guidance, consulting, networking opportunities, publications including books, e-books, and periodicals, recognition programs, research, and training opportunities for those in the profession.
The El Toro Water District is a District of Distinction accredited by the Special District Leadership Foundation because of its commitment to good governance and to ethical and sound operating practices. ETWD provides full‐service potable water, wastewater and recycled water for use across portions of the cities of Aliso Viejo, Lake Forest, Laguna Hills and Mission Viejo and the entire city of Laguna Woods.
The mission of El Toro Water District is to provide its customers a safe, adequate and reliable supply of water and wastewater service in an environmentally and economically responsible way.