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Posted on: February 24, 2021

CVWD Awarded for Budget Excellence

Budget Award

 The Cucamonga Valley Water District (CVWD/District) is pleased to announce that it is the recipient of the prestigious Distinguished Budget Presentation Award from the Governmental Finance Officers Association (GFOA) for its 2020-2021 budget. Every two years CVWD develops a biennial budget that reflects its goals in meeting customer needs while remaining good stewards of financial resources. The GFOA Award accredits the commitment by CVWD to prepare a budget that meets the highest principals of governmental budgeting. 

 “The CVWD team dedicated a great deal of hard work and strategy in preparing the 2020-2021 budget,” commented CVWD Board President Randall James Reed. “In addition to exceeding governmental budgeting standards, our budget is a clear and concise document which demonstrates the District’s transparency by communicating our operations and financial activity.” 

 The GFOA Award sets high standards and guidelines for effective budget presentation on a national level. These guidelines are designed to assess how well an entity’s budget serves as a policy document, a financial plan, an operations guide, and a communications device. This is the 13th consecutive budget for which the GFOA has honored CVWD with this award.

 CVWD prepares and adopts its budget as a means of projecting and estimating revenues, while also identifying and planning expenses for each fiscal year. CVWD’s Operating and Capital Improvement Budget represents the District’s openness to governmental transparency by providing the public with pertinent financial information in a clear and easy-to-read format. The District is committed to communicating with customers and stakeholders and its budget is one way of doing this. In addition to this budget award, CVWD has also been honored by GFOA for its Comprehensive Annual Financial Report, the highest form of recognition in the area of governmental accounting and financial reporting. 

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