With the introduction of the Popular Annual Financial Report (PAFR), TMWA is making it easier than ever for our customers to access and understand the utility’s financial position. The PAFR is a summary of the much longer Annual Comprehensive Financial Report (ACFR), which TMWA is required to submit to the state of Nevada by November 30th of each year. Audited by a third-party, the ACFR is a formal, standardized, and detailed document. The ACFR was approved by TMWA’s Board of Directors in December 2021.
One of the issues with the ACFR is that it can be quite technical and full of accounting language that makes it less useful for the general public. With this in mind, TMWA has compiled the PAFR for those of our customers who would like to review the report, but do not have time to read through 100+ pages of financial statements.
As seen in the image above, the PAFR offers a highly visual overview for readers who might not be familiar with formalized accounting tables and want to get straight to the bottom line. The PAFR also provides detail about key financial events of 2021 and provides perspective on TMWA’s financial milestones since its formation 20 years ago.
Both reports demonstrate the success of TMWA’s solid financial management strategy that proactively ensures a robust, well-maintained infrastructure ready to serve our customers for decades to come. You can access both the ACFR and PAFR by clicking here.