The Finance and Accounting Department is a team of professionals that provides oversight and accountability in regard to the District's finances. The department is responsible for all financial-related activities within CAP. There are three operational areas:
- Accounting Operations is responsible for financial statement reporting according to generally accepted accounting principles, overseeing the annual external audit, accounts payable and payroll.
- Financial Operations is responsible for quarterly and annual financial analysis and reporting, cash and treasury management, bond oversight, accountable property, and financial oversight with the Bureau of Reclamation.
- Business Financial Planning is responsible for oversight of budget development and forecasting, long-range financial planning, accounts receivable, and strategic and working capital reserve planning, as well as financial oversight and reporting on capital improvement/Extraordinary Maintenance projects and power and transmission.
CAP’s activities are accounted for under the accrual method and in compliance with GASB Statement No. 34. Under Enterprise Fund accounting, CAP is a single-accounting entity for financial reporting purposes. However, within this single accounting entity, CAP has identified a number of financial activities that it wishes to track separately, referred to as “funds.” These funds are as follows: General Fund, CAGRD Account, Supplemental Water Account, and Captive Insurance Fund. The use of the term “fund” for these separate activities does not have any particular accounting significance. CAP is not required to, and does not, publish separate financial statements for any of the individual funds, except for the consolidated statements and CAP’s captive insurance company.
For additional information, please contact Douglas Dunlap, CPA, Finance & Accounting Manager, at email@example.com or 623-869-2360.