Financial Reports

The Finance Division provides the accounting, auditing, budgeting, investing, and debt management functions required, showing clearly and accurately at all times, the financial status of the District. SMWD finds itself in a strong financial position. This did not happen by accident, but through careful fiscal planning over the course of many years. SMWD uses a long-range planning approach that is similar to a family who regularly puts money aside over time to pay for the eventual cost of their children's college education.  

Operating Budgets

Each year, the Board of Directors approves an annual operating budget at a public meeting for the fiscal year which runs from July 1st through June 30th of each year. The SMWD Operating Budget provides the financial plan required to implement the District's work plan for the year.

2019 Fiscal Year Budget

View past Operating Budgets.

Capital Improvement Budget

In addition to the operating budget, SMWD has a work plan for new and replacement infrastructure projects. This work plan is funded by the Capital Improvement Budget, which is approved by the Board of Directors on an annual basis.

View Capital Improvement Budgets.

Audits

Public agencies such as SMWD do not issue a traditional annual report, but rather a much fuller report called a Comprehensive Annual Financial Report or CAFR. The report highlights major projects and initiatives in addition to financial data. The CAFR has been the annual financial report of choice for public agencies since it was established in 1945 by the Government Finance Officers Association. Reports submitted to the CAFR program are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee (SRC), which is comprised of individuals with expertise in public-sector financial reporting and includes financial statement preparers, independent auditors, academics, and other finance professionals. SMWD's CAFR has earned the prestigious Certificate of Achievement for Excellence in each year a CAFR was prepared. This award recognizes governments whose CAFRs achieve the highest standards in government accounting and financial reporting. 

View the Comprehensive Annual Financial Reports.

View the State Controller's webpage for the district's reported Financial Transaction Report.

Single Audits

Single Audits are required for Governmental Agencies that receive at least $750,000 of Federal funds in one fiscal year. The audit must be conducted by an independent certified public accountant, and are in addition to the audit of the annual financial statements. The Single Audit focuses on both financial and compliance requirements related to federal funding. 

View the Single Audit Report

Community Facilities District Disclosures

The Mello-Roos Community Facility District Act of 1982 was created to provide an alternate method of financing major infrastructure necessary to support development within an identified area. This Act allows any county, city, school district or joint powers authority to establish a Community Facilities District (CFD) to fund/finance public facilities (schools, streets, sewers, storm drains). CFD's Special Taxes are collected on the property tax bill and appears as a separate line item clearly identified by the CFD name and public entity which has formed the CFD. Below are the financial report for the SMWD CFD's.

Mello-Roos 2017 Fiscal Status Report CFD No. 99-1 Series 2007

Mello-Roos 2017 Fiscal Status Report CFD No. 99-1 Series 2014

Mello-Roos 2017 Fiscal Status Report CFD No. 2013-1 Series 2013

Parcel Tax Reporting - Statistical Data: CFD No. 99-1

Parcel Tax Reporting - Statistical Data: CFD No. 2013-1