AWARDS

Financial Awards

Certificate of Achievement for Excellence in Financial Reporting

Certificate of Achievement for Excellence in Financial Reporting

ReWa (f.k.a.WCRSA) was presented with two prestigious financial reporting awards in 2008. ReWa (f.k.a.WCRSA) received the Popular Annual Financial Report Award for the 2007Annual Report to the Community. This is the tenth consecutive year the organization has received the award.

ReWa (f.k.a.WCRSA) also received the Certificate of Achievement for Excellence in Financial Reporting for its 2007 Comprehensive Annual Financial Report (CAFR) for the fifteenth consecutive year. This award represents the highest form of recognition in the area of governmental accounting and financial reporting. The CAFR award is presented annually by the Government Finance Officers Association of the United States and Canada (GFOA). GFOA is a nonprofit professional association serving over 12,000 government finance professionals.

ReWa (f.k.a.WCRSA) also received a revenue bond rating upgrade to AA by Standard & Poor's Corporation, a leading independent credit rating provider. This rating is among the highest that is assigned to a utility. The AA rating reflects ReWa's (f.k.a.WCRSA) strong financial health and its ability to meet capital needs of the system.

Standard & Poor's based this rating on several factors, including:

  • Continued customer growth in the service area

  • Above-average wealth and income levels
  • Maintenance of strong system liquidity
  • Healthy debt service coverage from system revenues net of tap and reconnection fees