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Budget & Finance

Budget

1.

Is the budget:

 Current

□  Accurate

□  Working

2.  Who has input when budget is being

prepared?

□  Superintendent/Manager

□  Operators

□  Office Personnel

 Board/Council Members

 Regulatory Agencies

 Financial Institutions

 Other ______________

3.

Are any of the following trends used to   prepare the budget?

□  Past chemical costs

□  Equipment O & M costs

□  Costs caused by regulatory requirements

□  Analysis costs

□  Future system demands

□  Other _________________

4.

Is an independent auditor used?

    □  Yes  No

5.

Does the budget include emergency costs?

    □  Yes  No

6.

What is the budget time period?

□  Calendar year

□  Fiscal year (July through June)

□  Other  ___________________

7.

Are Bond Reserves included in the budget?

□  Yes  No

8.

Does the budget reflect current inventory?

□  Yes□  No

9.

Does the budget include depreciation?

Yes  No

10.

Are any of the following cash flows considered in the budget?

 Operation accounts

 Savings accounts

□  Certificates of Deposits (CD)

□  Bonds

 Other __________________

11.

Is a Certified Public Accountant (CPA) used?

 Yes  No

12.

Is a bid process used to obtain a CPA?

 Yes  No

13.

Is the CPA familiar with water utilities operation and accounting procedures and the regulatory requirements for audit reports?

□  Yes□  No

14.

When soliciting a CPA are qualifications requested and reviewed?

□  Yes□  No

15.

Is Rural Development (RD) or other agencies consulted to confirm CPA qualifications or performance records?

□  Yes□  No

16.

Are computer programs used by the water system to reduce the time required for the CPA to conduct an audit?

□  Yes□  No

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