(Kansas City, Mo.) – KC Water recently received a Certificate of Achievement for Excellence in Financial Reporting for its work on the 2018 Comprehensive Annual Financial Report (CAFR). This is the second consecutive award for KC Water from the Government Finance Officers Association.
This certificate is the highest form of recognition in the area of governmental accounting and financial reporting. It highlights how efficiently KC Water documents, manages and reports its yearly finances.
The CAFR, posted online, details the independent auditor’s report conducted by BKD, LLP. In the CAFR’s grading summary, KC Water received a rating of “proficient” in several categories; including the report of the independent auditor, statement of revenues, expenses and cash flow. The CAFR is also an excellent resource for customers to get a historical and current understanding of rates.
“We want to be transparent so that our customers are informed about how their rate dollars are spent. We put a lot of time and effort into this annual report to make it easy for customers to understand,” said KC Water Finance Director, Sean Hennessy.
“The recognition we received from the Government Finance Officers Association reassures us that our financial decisions are sound, not only for KC Water, but for our customers,” said KC Water Director, Terry Leeds.
The CAFR has been judged by an impartial panel to meet the high standards of the program.
For more information, please contact Heather Frierson, KC Water Media Relations Coordinator, at heather.frierson@kcmo.org or 816-513-0280.
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KC Water maintains and operates water treatment and distribution systems, storm water management systems, and wastewater collection and treatment systems for residential and business customers in Kansas City and for wholesale customers in the Kansas City area. KC Water is primarily funded by fees charged to customers based on their use or impacts on the three utility systems.
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