Atlanta DWM recognized for financial reporting

The City of Atlanta Department of Watershed Management (DWM) recently received a Certificate of Achievement for Excellence for Financial Reporting from the Government Finance Officers Association. Awarded to government agencies and their management teams, the certificate recognized the achievements highlighted in DWM’s Comprehensive Annual Financial Report (CAFR) for fiscal year 2016.Department of Watershed Management (DWM)

“Demonstrating financial responsibility to our ratepayers is of the upmost importance to the Department,” said Deputy Commissioner Mohamed Balla. “This award not only showcases our commitment to ensure professional stewardship of Atlanta’s water, but also our focus on reliability and accuracy which drives our customer service efforts. It is through a multilevel coordinated approach that we achieved this noteworthy accomplishment.”

Watershed Management has undertaken several steps to ensure financial stability while positively impacting customers through initiatives like the Bill Amnesty Program which allowed both commercial and residential customers the opportunity to enter into payment plans to help settle their accounts without facing penalties as well as the water line repair and replacement program to reduce water loss.

Considered the highest form of recognition in the area of governmental accounting and financial reporting, the certificate follows on the heels of Moody’s Investors Service upgrade to the city’s $232.14 million Water and Wastewater Revenue Refunding Bonds, Series 2017A, to Aa2 from Aa3. The upgrade also applies to approximately $3 billion in revenue bond outstanding debt and reflects the system’s stable financial position.

Watershed Management was also recognized for having 96 percent completion of employee financial disclosures by the City’s Board of Ethics. The Department has been above the 90 percent mark for the past five years.

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