Water Supply Corporations/Special Utility Districts
Each year, water districts and authorities are required to complete reports on their financial status. Many Water Supply Corporations are also required to have audits through their bylaws, articles of incorporation, or as recipients of federal and/or state funding. Increasing consumer concerns, decreasing natural resources, regulated water protection, and expanded reporting requirements continue to create challenges for these organizations.
We are familiar with the standards for maintaining fiscal records that comply with Texas Water Code (TWC) Section 49.196, as well as the reporting requirements of the Texas Commission on Environmental Quality (TCEQ).
Our Experience Includes
-
Our experience includes audits of organizations that have transitioned from water supply corporations to special utility districts, as well as audits of organizations issuing bonds for improvements and expansion. We have worked with organizations receiving funding from Rural Development and the Texas Water Development Board and have performed single audits for both water supply corporations and special utility districts.
Key Areas
-
Single Audit/Uniform Guidance
-
Certificate of Convenience & Necessity (CCN)
-
Water Utility Tariff
-
Water Hygiene (Drinking Water), Title 30, Texas Administrative Code
-
Purchasing issues
-
IRS Federal Form 990 (for Water Supply Corporations)
-
Texas Supplementary Information (for Special Utility Districts)
-
IRS travel rules & regulations
Client Commitment
We believe our experience with water supply corporations and special utility districts enables us to provide audits that meet the needs of members, taxpayers, board members, management teams, oversight agencies, and creditors and/or funders. In addition, we are equipped to provide meaningful advisory comments that may assist organizations in making more informed decisions and aid in strengthening the control environment.