TCPUD Recognized for Excellence in Financial Reporting

Posted: February 24, 2020 | Category:

The Tahoe City Public Utility District (TCPUD) has once again received the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its 2018 Comprehensive Annual Financial Report (CAFR). This award is the highest form of recognition in governmental accounting and financial reporting, and its attainment, for three consecutive years, represents a significant accomplishment by the TCPUD.

“We are honored to receive this prestigious award for our third consecutive year,” said Ramona Cruz, TCPUD’s Chief Financial Officer. “It is a testament to our great financial management and commitment to excellence,” said Ms. Cruz. An additional Award for Financial Reporting Achievement was presented to the TCPUD Accounting Department, the team primarily responsible for preparing the award-winning CAFR.

The TCPUD’s 2018 CAFR was rated “proficient” in 15 categories, qualifying the TCPUD financial report to be an example for others throughout North America. An impartial panel judged the CAFR to meet the high standards of the program, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the report.

The goal of the CAFR Program, and motivation of the TCPUD, is to go beyond the minimum requirements of generally accepted accounting principles and prepare transparent, comprehensive financial statements that provide the Board, staff, and community the information necessary to assess the District’s financial health. “Each year we strive to provide better and more meaningful financial transparency to our rate and tax payers and this recognition really validates those efforts”, said Sean Barclay, District General Manager. “Our Board of Directors and the entire District staff is to be commended for their contributions to this award and their efforts to promote financial transparency to our community.”

The TCPUD encourages community engagement in its financial decisions and welcomes the public to participate in its budget process. To review District financial reports, audits, and budgets, visit the TCPUD website at tcpud.org/finance