MNWD Accounting Department Stretches Dollars for Our Customers

It may seem counterintuitive that the MNWD department that tracks revenues from customer bills actually saves customers money. But in fact, the District’s Accounting Department has saved our customers millions of dollars in recent years.

MNWD’s Accounting Department manages the District’s finances, which includes overseeing incoming revenues and outgoing expenses to ensure MNWD operates within our budgets. The team also manages the District’s investments and bond sales. Carrying forward the Board’s fiscally conservative vision, the Department’s strategic short-term and long-term investments provide revenue to fund many critical infrastructure projects as we go, rather than having to borrow money. The team has also helped MNWD achieve a AAA credit rating – the highest available for a public agency – which has helped the District take advantage of lower interest rates when financing infrastructure projects. These combined efforts will save MNWD customers millions of dollars as the projects are built over the coming years.

The Accounting Department leads MNWD’s efforts to partner with other local agencies on regional infrastructure projects as well, saving millions through cost sharing on the Upper Chiquita Reservoir, Baker Treatment Plant and Irvine Ranch Interconnection. The team also ensures that all of the products and services necessary to deliver safe and reliable water service are obtained at competitive prices.

The efforts of the Accounting Department’s nine members were recognized last year by the California Society of Municipal Finance Officers, which awarded MNWD the Certificate of Achievement for Excellence in Financial Reporting for our Comprehensive Annual Financial Report. It takes a highly trained and dedicated team to meet the needs of our customers at the lowest possible cost. MNWD’s Accounting Department is very efficient, and works to stretch every dollar to ensure you a sustainable water supply at a fair price.