The District Receives Recognition for Financial Reporting
BOWLING GREEN, Ohio, – The Northwestern Water and Sewer District (The District) announced today that it is the proud recipient of the Certificate of Achievement for Excellence in Financial Reporting by Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR). This is the fifteenth year The District has received this GFOA award.
According to the GFOA press release, the Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
Also this January, The District received an Aa3 (Excellent) rating from Moody’s Investor Service. With this good credit position and system profile, the financial strength of The District “is superlative and is very strong with respect to its Aa3 rating,” according to the Moody’s comments. This rating allows The Distinct to secure lower rates on loans used for projects, helping with low rate increases. Click here to see the Issuer comments document.
“Fiscal responsibility is a priority for the entire District team,” said Kay Ball, District Chief Financial Officer. “Each employee is mindful of each purchase because we know the value of providing clean water to Northwestern Ohio.”