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Financial Reports & Policies

Annual Operating Budget

The Operating Budget is the spending plan the Commission approves on an annual basis. Revenues derived from the sale of water, as well as other fees and charges, are used to fund the operations of Greenville Water in accordance with the Commission’s objectives and priorities. In addition to the day to day operations of Greenville Water, the Annual Operating Budget also funds the replacement of aging pipe, replacement of meters, upgrades & replacements due to road improvements, extending service to new customers and improvements to system performance.

2022-2023 Operating Budget (40mb)

Annual Comprehensive Financial Report

The Annual Comprehensive Financial Report (ACFR) is a detailed presentation of Greenville Water’s financial position and activities for the fiscal year and is organized in four main sections. The Introductory Section includes a financial overview and organization charts. The Financial Section includes the independent auditor’s report, management’s discussion and analysis, audited basic financial statements and notes, and supporting schedules. The Statistical Section contains selected economic, financial trend and demographic information on a multi-year basis. The Compliance section has independent auditor’s reports on compliance and internal control.

2023 Annual Comprehensive Financial Report

Financial Policies

Reserve Policy 

The Reserve Policy provides adequate working capital for cash flow and contingency purposes, while maintaining reasonable and affordable water rates for our customers.

Debt Management Policy

The Debt Management Policy is intended to guide the prudent use of resources to provide the needed services to our customers and to maintain sound financial management practices.

Long-Term Financial Planning Policy

The Long-Term Financial Planning Policy provides a mechanism to consider the financial future of Greenville Water.

Operating Budget Policy

The Operating Budget Policy provides guidelines to the Commission and staff for their consideration of the broader implications of the budget process and the development of an operating budget that is consistent with public finance best practices.

Capital Planning, Budgeting & Management Policy

The Capital Planning, Budgeting & Management Policy provides a means to systematically identify, plan, schedule, finance, as well as track and monitor capital projects to ensure cost-effectiveness as well as conformance to established policies and procedures.

Investment Policy

The Investment Policy applies to the investment of all funds of Greenville Water and shall be operated in conformance with federal, state, and other legal requirements.

Procurement Policy

Greenville Water establishes this procurement policy in order to:

  • Establish the authority for the procurement function within the organization.
  • Enable uniform procurement procedures throughout the organization
  • Build public confidence in procurement
  • Ensure the fair and equitable treatment of everyone who deals with the procurement system
  • Provide for increased efficiency, economy and flexibility in procurement activities and maximize to the fullest extent the purchasing power of Greenville Water
  • Foster effective broad-based competition from all segments of the supplier community
  • Safeguard the integrity of the procurement system and protect against waste, fraud, and abuse
  • Ensure appropriate public access to contracting information

Internal Control Policy

The purpose of this policy is to communicate the internal control objectives of Greenville Water.

Risk Management Policy

The Risk Management Policy exists to give specific and general authority for the administration of the Risk Management program for Greenville Water.

Expense Policy

The Expense Policy is for defining the Commissioners philosophy on the allocation of its limited resources to meet its strategic objectives.

Rates, Fees and Charges Policy

The Rates, Fees, and Charges Policy sets the rates and pricing objectives for Greenville Water to establish a system of rates, fees, and charges that generates sufficient revenues for the operation of the system.

Fixed Asset Policy

The Fixed Asset Policy ensures that our accounting records properly summarize fixed asset expenditure transactions, that physical safeguards are present to control our fixed assets, and that our records substantiate that assets used by Greenville Water are actually owned by us.

Accounting, Auditing and Financial Reporting Policy

This policy establishes best practices, standards and controls for the areas of accounting, auditing and financial reporting.