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OMWD Honored for Transparent Financial Reporting 

Receives Award from the Government Finance Officers Association for Twenty-Fourth Consecutive Year

Encinitas, Calif.— Olivenhain Municipal Water District’s Board of Directors accepted at its October 16 meeting the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada. This is the twenty-fourth consecutive year OMWD has received the award, which recognizes OMWD’s Comprehensive Annual Financial Report for the fiscal year ending June 30, 2018.

 

Olivenhain Municipal Water District Logo landscape design workshops

OMWD Honored for Government Transparency and Sound Financial Practices

Encinitas, Calif. —The Special District Leadership Foundation recognized Olivenhain Municipal Water District today at California Special Districts Association’s annual conference in Anaheim for a sixth “District of Distinction” biennial accreditation. This recognition celebrates OMWD’s sound fiscal management and commitment to transparency in all areas of its operations.

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Vista Irrigation District Receives National Award for Financial Reporting

Vista, Calif. – Vista Irrigation District has been presented with the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its comprehensive annual financial report (CAFR) for fiscal year ending June 30, 2018. This certificate is the only national award for public sector financial reporting.

The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government agency and its management team. This marks the twelfth year the district has received recognition for excellence in financial reporting and transparency.

Olivenhain Municipal Water District Logo landscape design workshops

OMWD Board to Save Property Owners $2.8 million with Bond Refinancing

Encinitas, Calif.— At its July 24 board meeting, OMWD’s board of directors authorized the refinancing of its Reassessment District 96-1 bonds. The deal closed on July 29 and will reduce repayment costs to property owners within OMWD by approximately $2.8 million.

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Otay Water District Executes Successful Bond Sale

Spring Valley, Calif. – On Oct. 11, the Otay Water District executed a successful bond sale that is expected to close on or about Nov. 1. The water revenue bond will fund $28 million of District’s capital projects during the next three years and will refinance $6.9 million of the District’s 1996 Variable Rate Demand Certificates of Participation (COPs) to a fixed rate of interest. By refinancing its 1996 Variable Rate COPs to a fixed rate, the District has eliminated the risk of increasing costs for customers due to rising interest rates.