The Finance department is responsible for managing the District’s financial resources, including financial control, accounting, budgeting, producing financial reports, investments, and developing long-term financial plans to meet District’s goals.
The Fair Oaks Water District’s fiscal year starts on January 1st and ends on December 31st.
The budget provides the Board of Directors and the District’s customers with an overview of total available resources and planned spending.
The 2017 budgeted expenses can be viewed by clicking the chart below.
Your Water Dollars at Work — Where Your Dollars Go
The Board of Directors provides certain priorities and general guidelines for the budget. District staff then develops its budget, consistent with the District’s mission, goals, policies, and water demand, around July or August. The preliminary budget is reviewed by the District’s Budget Committee. The draft budget is then brought to the Board of Directors at a public meeting for deliberations and approval around October through December.
The District’s 2017 Annual Budget was adopted by the Board of Directors at the regular board meeting on October 10, 2016.
|2004-2005 Budget||pdf 0.96 MB|
|2006 Budget||pdf 0.45 MB|
|2007 Budget||pdf 0.41 MB|
|2008 Budget||pdf 2.05 MB|
|2009 Budget||pdf 1.89 MB|
|2010 Budget||pdf 1.86 MB|
|2012 Budget||pdf 1.31 MB|
|2013 Budget||pdf 0.65 MB|
|2014 Budget||pdf 1.7 MB|
|2015 Budget||pdf 2.26 MB|
|2016 Budget||pdf 1.52 MB|
|2017 Budget||pdf 2.82 MB|
Comprehensive Annual Financial Reporting
The Board of Directors hires an independent auditor to conduct an audit of the District’s Comprehensive Annual Financial Report (CAFR) in accordance with the District’s audit policy 5010.
The audited CAFR provides a detailed review of the District’s finances. The CAFR includes the Introductory Section, Financial Section (including an Independent Auditor’s Report, Management’s Discussion & Analysis, and audited Basic Financial Statements) and Statistical Trend Information. The District’s Comprehensive Annual Financial Report is available following the completion of its annual financial audit around April.
Audited Financial Documents
Five-Year Financial Plan
The Five-Year Financial and Water Rate Development Plan dated November 14, 2011 includes the new rate structure, forecasted revenues, and projected total expenses from 2012 through 2016.
|Five Year Financial Plan - November 2011||pdf 0.57 MB|
Director’s Expense Reports
|2017 May Expense Report||pdf0.01 MB|
|2017 March Expense Report||pdf0.01 MB|
|2017 June Expense Report||pdf0.01 MB|
|2017 July Expense Report||pdf0.01 MB|
|2017 January Board Expense Report||pdf0.01 MB|
|2017 February Expense Report||pdf0.01 MB|
|2017 April Expense Report||pdf0.01 MB|
|2016 September Expense Report||pdf0.01 MB|
|2016 October Expense Report||pdf0.01 MB|
|2016 November Expense Report||pdf0.01 MB|
Government Finance Officers Association Awards
The Certificate of Achievement for Excellence in Financial Reporting Program (CAFR program) was established by the Government Finance Officers Association to encourage government entities to go beyond the minimum requirements of generally accepted accounting principles and to prepare CAFR reports that provide transparency and full disclosure. The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting.
The Fair Oaks Water District (FOWD) was awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association for its CAFR for the year ended December 31, 2015. This is the 15th consecutive year the FOWD received this award.