Water agencies get honors

Two Santa Clarita Valley Water agencies recently received awards for their governmental accounting and financial reporting, considered to be the highest form of recognition in that area.

Castaic Lake Water Agency and Newhall County Water District received Certificates of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada for the 2016 through 2017 fiscal year.

“This award recognizes our excellence in preparing the (Comprehensive Annual Financial Report) according to best practices for government financial transparency and compliance with government accounting standards,” said Rochelle Patterson, director of administrative services with SCV Water.

The Comprehensive Annual Financial Report is judged by an impartial panel to meet the program’s high standards, which include demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the report.

According to SCV Water, this is the 13th consecutive year Castaic Lake Water Agency has won the award and the 18th consecutive year for the Newhall County Water District.

“As a public water entity we have the responsibility, the obligation, to conduct business in an open manner,” Patterson said. “SCV Water will continue the legacy of financial transparency, and will apply for the award as a new entity later this year.”

Both entities also received the Government Finance Officers Association’s Distinguished Budget Presentation Award for the 2017 through 2018 fiscal year. Consideration for the next fiscal year budget was recently submitted.

Both Castaic Lake Water Agency and Newhall County Water District are now part of SCV Water since it formed in January 2018 through Senate Bill 634, authored by state Sen. Scott Wilk.

SCV Water’s fiscal year 2018 through 2019 budget is available online at bit.ly/SCVwaterFY1819budget.