TRANSMITTAL LETTER FOR BOARD MEETING OF JUNE 21, 2018
COMMITTEE ON PENSION, HUMAN RESOURCES & CIVIL SERVICE
Mr. John P. Murray, Acting Executive Director
Title
Report on the 2017 Comprehensive Annual Financial Report of the Metropolitan Water Reclamation District Retirement Fund
Body
Dear Sir:
The Comprehensive Annual Financial Report (CAFR) of the Metropolitan Water Reclamation District Retirement Fund (Fund) for the year ended December 31, 2017 has been completed and distributed to the Board of Commissioners. The Fund is a component unit of the MWRDGC, and our CAFR is prepared and submitted to you in compliance with 40 ILCS 13-706(f). The basic financial statements in the CAFR have been prepared in conformance with Generally Accepted Accounting Principles (GAAP) promulgated by the Governmental Accounting Standards Board (GASB). The CAFR includes an introduction, a financial overview, and our Management’s Discussion and Analysis to introduce the basic financial statements.
Fund management is responsible for providing relevant, reliable, timely, comparable, clear and consistent financial data. By complying with all GASB disclosure requirements, we provide a fair and accurate presentation of our financial position and operation of our Fund to the District population and to regulatory and investment communities.
The Government Finance Officers Association of the United States and Canada (GFOA) awarded the Certificate of Achievement for Excellence in Financial Reporting for the Fund’s CAFR for the fiscal year ended December 31, 2016. The certificate will be sought for the 2017 report, as we believe it meets all requirements of the GFOA Certificate of Achievement program.
The Fund’s independent auditor, Legacy Professionals LLP, has examined the basic financial statements of the Fund. The examination was conducted in accordance with Government Auditing Standards: accordingly, it included such tests of the accounting records, as well as such other auditing procedures, as were considered necessary. The Auditor issued an unqualified opinion.
It is respectfully requested that the 2017 CAFR be received and ordered filed by the Board of Commissioners.
Requested, Susan A. Boutin, Executive Director, MWRD Retirement Fund
Respectfully Submitted, Mariyana T. Spyropoulos, Chairman Committee on Pension, Human Resources and Civil Service
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for June 21, 2018