Understanding Financial Statements

*Complete any qualifying financial course and submit proof to CalMutuals, and CalMutuals will reimburse your QuickBooks subscription cost for that year.

The purpose of this training is to provide small water systems in California with the tools necessary to plan for financial stability. Many systems lack a basic understanding of using financial statements to make the informed financial decisions necessary to provide for sustainability of the water system. This training will be presented to provide decision makers with working knowledge and emphasize tools/resources available to understand information contained in financial statements about their water enterprise’s revenue, expenses, profitability, debt load, and the ability to meet its short-term and long-term financial obligations.

Participants will learn to:

• Identify where on which financial statements to find specific financial information
  
• Understand what each financial statement reveals about the financial health of the system
• Calculate financial indicators and understanding/interpreting these indicators

The recommended audience includes board members, general managers, financial managers, and operators.