Fiscal Year Budgets
MWD conducts its financial operations on a fiscal year basis beginning on July 1st and ending June 30th. Every year, staff prepares a preliminary budget based on priorities provided by the Finance and Operations committees and consistent with the District's mission. The budget provides the Board and District stakeholders with an overview of total available resources and planned spending. The Finance Committee thoroughly reviews the preliminary budget prior to presentation and approval of the final budget by the Board of Directors at Public Meeting in June.
Annual Audited Financial Reports
The Board of Directors hires an independent auditor to conduct an audit of the District's Annual Financial Report. The audited Financial Report provides a detailed review of the District's finances. It includes an introductory section, financial section, supplemental information and the independent auditor's report on internal controls and compliance with Government Auditing Standards.
Financial Reserves Policy
Link to State Controller By the Numbers Website
The District is required to submit a Financial Transaction Report to the State Controller within seven months after the close of the fiscal year and provide a link to the 'By the Numbers Website'.
The Financial Transaction Report is available upon request.