A nonprofit publication of the Kentucky Center for Public Service Journalism

Sanitation District No. 1 recognized by GFAO for excellence in financial reporting

For the tenth consecutive year, the Government Finance Officers Association (GFOA) of the United States and Canada has awarded its Certificate of Achievement for Excellence in Financial Reporting to Sanitation District No. 1.

“This award recognizes SD1’s continued commitment to providing safe and reliable wastewater and storm water services in a financially responsible and transparent way,” said SD1 Executive Director Adam Chaney. “We are proud to have earned this remarkable achievement for the tenth consecutive year.”

The award is the GFOA’s highest recognition in the area of governmental accounting and financial reporting. It recognizes SD1’s 2022 Annual Comprehensive Financial Report (AFCR), which details the utility’s finances following guidelines from the Government Accounting Standards Board and Generally Accepted Accounting Principles. It includes an independent auditor’s review of SD1’s financial statements, which were deemed to be clean and fairly presented.

“The entire process takes the efforts and dedication of the entire accounting staff,” said SD1 Accounting Manager Debbie Vinson. “It takes cooperation from all departments, providing information and assistance, and the support of all directors for maintaining and expecting a high degree of fiscal integrity.”

Everything the accounting staff does throughout the entire year is aimed at ensuring the integrity of the data reported. Ensuring SD1’s financial reporting is accurate, transparent and reliable is essential for building a foundation of trust, credibility and accountability with customers and other stakeholders.

“SD1 will continue to be transparent with its finances by being committed to continuous improvement efforts; standardizing process documentation; sharing of data through appropriate tools and platforms with all stakeholders; keeping up-to-date with best practices, trends and accounting standards; and having effective internal controls in place to prevent, detect and correct any data errors or identify fraudulent activity,” said Vinson.

SD1’s ACFR was judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and motivate potential users and user groups to read the report.

SD1’s ACFR is available for the public to view at www.sd1.org.

Sanitation District No. 1

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