Flood and Wastewater District receives awards
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.