CAP's fiscal year runs concurrent to the calendar year. CAP prepares a biennial budget as part of its integrated financial planning process. The budget process involves District-wide staff developing the budget over a 4-5 month period. It is more than just a financial document, it also provides the path to CAP achieving its critical mission … delivering water reliably. It contains an extensive amount of information about CAP and its challenges and opportunities in the upcoming years. The documents are both bookmarked and hyperlinked on the table of contents for ease of use.
It is a zero-based budget, based on the objectives and strategic plan for the budget period. The budget is then reviewed with customers and stakeholders at a customer workshop, reviewed individually with Board Directors, presented at the Finance, Audit and Power Committee meeting and ultimately approved by the Board of Directors. CAP participates in the Governmental Finance Officers Association's budget award program and has received the award continually since 2011. The program provides best practices on presenting information in a format that is easily understandable and provides pertinent information for the user.
For additional information, please contact Douglas Dunlap, CPA, Finance and Accounting Manager, at firstname.lastname@example.org or 623-869-2360.