Flood and Waste­water Dis­trict re­ceives awards

Times-Herald (Vallejo) - - LOCAL NEWS - Times-Her­ald staff re­port

The Vallejo Flood and Waste­water Dis­trict is hav­ing a good week.

The agency re­ceived word that it re­ceived the Gov­ern­ment Fi­nance Of­fi­cers As­so­ci­a­tion’s (GFOA) Dis­tin­guished Bud­get Pre­sen­ta­tion Award for its bud­get. It also earned the In­vest­ment Pol­icy Cer­ti­fi­ca­tion from the Cal­i­for­nia Mu­nic­i­pal Trea­sur­ers As­so­ci­a­tion (CMTA).

The GFOA award rep­re­sents a sig­nif­i­cant achieve­ment by the en­tity, ac­cord­ing to a news re­lease.

“It re­flects the com­mit­ment of the govern­ing body and staff to meet­ing the high­est prin­ci­ples of gov­ern­men­tal bud­get­ing,” the same re­lease states. “In or­der to re­ceive the bud­get award, the en­tity had to sat­isfy na­tion­ally rec­og­nized guide­lines for ef­fec­tive bud­get pre­sen­ta­tion.”

These guide­lines are de­signed to as­sess how well an en­tity’s bud­get serves as:

• a pol­icy doc­u­ment

• a fi­nan­cial plan

• an op­er­a­tions guide

• a com­mu­ni­ca­tions de­vice

Bud­get doc­u­ments must be rated “pro­fi­cient” in all four cat­e­gories, and in the four­teen manda­tory cri­te­ria

Once a pol­icy is re­ceived by CMTA, it is in­de­pen­dently eval­u­ated us­ing a scor­ing ma­trix by three sep­a­rate CMTA pro­fes­sion­als. When the agency re­ceives a pass­ing score, the In­vest­ment Pol­icy earns the ‘Cer­ti­fied’ dis­tinc­tion, of­fi­cials ex­plained.

within those cat­e­gories, to re­ceive the award, of­fi­cials said.

Mean­while, CMTA’s cer­ti­fi­ca­tion rec­og­nizes that the Vallejo Flood and Waste­water Dis­trict’s In­vest­ment Pol­icy ad­heres with the State of Cal­i­for­nia Gov­ern­ment Code and meets the pro­gram re­quire­ments within 18 dif­fer­ent top­ics ar­eas deemed to be best prac­tices for in­vest­ment poli­cies, of­fi­cials added.

Those top­ics in­clude: Scope, Pru­dence, Ob­jec­tive, Del­e­ga­tion of Au­thor­ity, Ethics and Con­flicts of In­ter­est, Au­tho­rized Fi­nan­cial Deal­ers and In­sti­tu­tions, Au­tho­rized and Suit­able In­vest­ments, Re­view of In­vest­ment Port­fo­lio, In­vest­ment Pools/Mu­tual Funds, Col­lat­er­al­iza­tion, Safe­keep­ing and Cus­tody, Di­ver­si­fi­ca­tion, Max­i­mum Ma­tu­ri­ties, In­ter­nal Con­trols, Per­for­mance Stan­dards,

Re­port­ing, In­vest­ment Pol­icy Adop­tion and Glos­sary.

Once a pol­icy is re­ceived by CMTA, it is in­de­pen­dently eval­u­ated us­ing a scor­ing ma­trix by three sep­a­rate CMTA pro­fes­sion­als. When the agency re­ceives a pass­ing score, the In­vest­ment Pol­icy earns the ‘Cer­ti­fied’ dis­tinc­tion, of­fi­cials ex­plained.

To en­hance the mu­nic­i­pal trea­surer’s role, CMTA has de­vel­oped a num­ber of cer­ti­fi­ca­tion pro­grams to re­flect best prac­tices and in­crease an in­di­vid­ual’s knowl­edge of fixed in­come in­stru­ments.

The In­vest­ment Pol­icy Cer­ti­fi­ca­tion pro­gram be­gan in 2012 with the sup­port from the Cal­i­for­nia Debt and In­vest­ment Ad­vi­sory Com­mis­sion. It is open to all gov­ern­ment agen­cies within the State of Cal­i­for­nia in­clud­ing spe­cial dis­tricts, cities and coun­ties.

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