RCAC: Financial Management for Small Water Systems

Description: Do you want to improve your water system’s financial health? As a member of the governing body, management, or staff of a small water system, you have very important financial responsibilities, including establishing the policy framework governing your utility’s finances, planning for the system’s financial future, preparation and adoption of budgets, monitoring and oversight of financial performance, and ensuring accountability and integrity of the financial system. The goal of good financial management is to ensure that your utility is operated as a financially sustainable enterprise while providing safe and reliable water, both in the short- and long-term, to your utility’s customers.

Participants will learn:

• Recognize various financial statements and understand how to use them to make informed decisions
• Understand the elements of internal controls
• Develop a meaningful budget
• Identify methods to balance the budget

Recommended audience: Local government board of directors, managers and operators.