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For the fifteenth consecutive year, Mason PUD 3 has received international recognition for the quality and completeness of its financial reporting.
The International Government Finance Officers Association (GFOA) of the United States and Canada presented PUD 3 with the Certificate of Excellence in Financial Reporting for its 2018 Comprehensive Annual Financial Report. The PUD is one of only three public utility districts in Washington State to apply for association recognition for its financial reporting.
In addition to 15 consecutive GFOA awards, the utility’s operations are inspected annually by the Washington State Auditor’s Office. The PUD has not been subject to a finding in over 40 years.
In the letter announcing the award, Michele Mark Levine, GFOA’s director of technical services, said, “the Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting. Its attainment represents a significant accomplishment by a governmental entity and its management. We hope that your example will encourage others in their efforts to achieve and maintain an appropriate standard of excellence in financial reporting.”
The program recognizes organizations that go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports. The program specifically celebrates those participants that show a spirit of transparency and full disclosure.
The theme of the PUD’s 2018 annual report was “behind the scenes.” Annette Creekpaum, PUD 3 manager, noted, “The annual report is a team effort, headed up by the PUD’s Finance Department. The story it tells reflects the excellent work that all our employees do to provide our customers with safe, reliable, economical service 24/7.”
The PUD is a diamond-level Reliable Public Power Provider (RP3) in Washington State, as designated by the American Public Power Association (APPA). The PUD is also a “Smart Energy Provider,” so named by the American Public Power Association.
Mason PUD 3 includes about 600 square miles of service territory, with nearly 34,000 electricity customers. PUD 3 also operates a wholesale fiber optic telecommunications network, which supports the operation of its electric distribution services.
The International Government Finance Officers Association is an international nonprofit professional association serving more than 20,000 government finance professionals.