Independent Review of District’s Finances
Indicates Strong Commitment to Infrastructure Investment
May 13, 2020 –At its regular board meeting on May 12, 2020, the Rowland Water District Board of Directors approved the findings of an independent audit of its Fiscal Year 2018-2019 finances. The audit was conducted by the Irvine, CA accounting firm White Nelson Diehl Evans and is part of a comprehensive, highly independent process required by state law to ensure that proper accounting procedures are followed by public agencies.
“We are pleased to share that the audit did not find a single transaction for which there was a lack of authoritative guidance,” says Tom Coleman, Rowland Water District General Manager. “Additionally, the report shows the fair value of our investments in offering optimal public benefit, which now more than ever is critical for us in maintaining the public’s trust as we provide clean water to our valued customers.”
This latest report found no evidence of noncompliance or deficiencies in internal operating control or investment actions on the part of the District. On behalf of its customers and water users, significant investments were made towards several major infrastructure projects including the purchase of an emergency generator to better meet water supply needs, the replacement of an aging mainline on Valley Boulevard, and a major valve replacement project to allow for more effective and reliable operation of the water system.
“This extensive public report is designed to provide our customers and creditors with a general overview of our finances and major expenditures, and we feel that this latest audit demonstrates our continued accountability for the money we receive,” adds Coleman. “We take our commitment to financial stewardship very seriously, and will work diligently to maintain the high standards our customers deserve.”
To review Rowland Water District’s most recent audit, visit the District’s website at www.rowlandwater.com.