Honoring 50 years of financial reporting excellence at the MWRD

During a busy Board of Commissioners meeting on March 5, the Metropolitan Water Reclamation District of Greater Chicago (MWRD) paused to recognize one aspect of its work that is often overlooked yet essential to protecting the region's water environment: financial reporting. It is these established finances that afford the MWRD's critical operations to treat the Chicago area's wastewater, manage the region's stormwater and protect area water resources.

Recognizing this contribution, the Government Finance Officers Association of the United States and Canada (GFOA) presented the MWRD with the Distinguished Budget Presentation Award for the 2025 Budget and Certificates of Achievement for Excellence in Financial Reporting to the MWRD, the MWRD Retirement Fund, and to the MWRD Retiree Health Care Trust for the 2024 fiscal year. This marks 50 consecutive years of the MWRD receiving the Certificate of Achievement for Excellence in Financial Reporting, putting the MWRD in the top two percent of governments receiving a consecutive award. The MWRD also received the Distinguished Budget Presentation Award for 41 consecutive years. This is the highest form of recognition in government budgeting and demonstrates the effectiveness of the budget as a policy document, a financial plan, an operations guide and a communications device.

"Congratulations and thank you to our staff for consistently prioritizing healthy finances over 50 years," said MWRD President Kari K. Steele. "This sound financial footing and transparent reporting allows us to meet our important mission and builds critical trust from our taxpayers."

The MWRD is managing a $1.8 billion budget in 2026, investing in public infrastructure to protect the area water environment and public health while also meeting stringent permit compliance, unpredictable climate change and aging systems challenged to filter out everything from nutrients to pollutants. The MWRD accomplishes this all through strong fiscal reliability.

In addition to the 50 years of consistent financial reporting, the MWRD Retirement Fund and the MWRD Retiree Health Care Trust have now received the Certificate of Achievement for Excellence in Financial Reporting for 32 and 18 consecutive years, respectively. The MWRD also maintains an AAA credit rating from Fitch Ratings, a stable AA+ rating from S&P Global Ratings and an Aa1 rating and stable outlook from Moody's Ratings.

"I would like to especially thank our Clerk and Director of Finance Jackie Torres and Treasurer Steve Lux," said Chairman of Finance Marcelino Garcia. "It is really the team behind them with their leadership that always comes through and ensures that the MWRD prepares the highest quality annual financial reports that have led to success for 50 years."

The GFOA certificates are the highest form of recognition in accounting and financial reporting by state and local governments. The certificates provide assurance to the MWRD Board of Commissioners and management, investors, regulators, rating agencies, the public and others that the MWRD's financial condition and results of operations are fairly presented. The certificates also demonstrate that the MWRD's annual comprehensive financial reports are both easily readable and efficiently organized for the readers' benefit. To read the reports, visit mwrd.org/what-we-do/financial-reports.