MWRD receives highest marks possible on annual audit

The Metropolitan Water Reclamation District of Greater Chicago (MWRD) recently released their Comprehensive Annual Financial Report (CAFR). This financial audit is performed annually to ensure the MWRD is conducting business in a responsible, ethical and financially-sound manner.

Jodi Dobson, senior manager and independent auditor with Baker Tilly Virchow Krause, LLP, presented the CAFR report during the MWRD Board's regular meeting on May 16.

“The MWRD's financial statements present fairly, in all material respects, the position and results of the District,”  Dobson said.

A CAFR is a set of accounting statements that summarize the financial condition of a governmental entity. Illinois law requires that that MWRD prepare and publish financial statements and any other data necessary to reflect the true financial condition and operations of the MWRD within six months of the close of each fiscal year. The law also requires that MWRD financial statements be subject to an audit by independent accountants. Baker Tilly provided an unmodified opinion on the MWRD’s basic financial statements.

“Cook County taxpayers should know that the MWRD has once again received the highest possible rating,” said Chairman of Finance Mariyana Spyropoulos. "The Board of Commissioneris very proud of the work of our employees who work diligently to make prudent, financial decisions. This report provides assurance to our regulators, rating agencies, and Cook County taxpayers that the MWRD’s financial condition are fully and fairly presented. MWRD's CAFR is easy to read, understandable and efficiently organized for the public's benefit."

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