The Finance Department is staffed by two Certified Public Accountants who oversee all financial aspects of CVWRF's operation. The department also includes one accounts receivable/payable clerk and three procurement/warehouse staff. The department is responsible for the following activities:
- CVWRF is comprised of seven member entities. These entities are billed monthly for facility usage as determined by wastewater flow and mass pollutants received by CVWRF from each entity. Revenues are used to cover the facility's operation, maintenance and repair, rehabilitation and upgrade projects. Other sources of revenue are septage receiving, commercial food waste disposal, and compost sales from Oquirrh Mountain Compost.
- Performed weekly by the AP clerk. Payroll is processed bi-weekly. Following company policy, all checks are signed, approved and reviewed by approriate managers.
- Finance oversees daily cash load balances to ensure there is an adequate cash supply for day-to-day operations. When larger projects are being developed, such as plant renovations, Finance works with financial advisors, bonding agencies, the State of Utah Division of Water Quality (State Revolving Fund) and other related companies to secure bond funds or loans to finance these projects.
Annual Financial Audit:
- CVWRF completed an Annual Financial Audit which follows government auditing standards. Finance prepares all financial information for an outside auditing firm. The auditors offer an opinion on the financial statements as to whether they are fairly presented in all material aspects.
CVWRF is dedicated to transparent and open reporting.
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