MNWD Recognized for Excellence in Financial Reporting

MNWD has some of the lowest water and sewer rates in Orange County due to the Board of Directors’ conservative fiscal approach and the Finance Division’s commitment to carry out the Board’s fiscal policies. As a result, the District is well positioned to reliably meet our customers’ water and sewer needs now and into the future.

The Finance Division is led by Director of Finance/Treasurer David Cain, who oversees a team of 19 dedicated professionals in the areas of billing, accounting, purchasing, warehousing and information technology (IT). The Director of Finance is responsible for the fiscal and IT operations of the District. David ensures that the District’s IT infrastructure leverages technology to meet current and future District needs. He also oversees management of the investment portfolio, develops short- and long-term financial planning goals and tools, and ensures that the District maintains its strong AAA credit rating.

Supporting the Director of Finance/Treasurer is the District’s Controller, Nancy Desai. Nancy is responsible for managing the day-to-day financial operations of the District and oversees the Accounting and Purchasing and Warehousing departments. The Controller prepares the monthly financial statements, the Comprehensive Annual Financial Report and the operating and capital improvements budgets, and manages the annual external audit.

MNWD was awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada for the District’s Comprehensive Annual Financial Report. 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 agency and its management.

Together with the support of the Board of Directors and General Manager, the MNWD staff works to ensure that your water District remains fiscally sound, resulting in reliable service and low water and sewer rates for all of our customers.