The Little Rock Wastewater's initial Financial Report was developed in compliance with Statement of Governmental Accounting Standard No. 34, entitled "Basis Financial Statements — Management's Discussion and Analysis — For State and Local Governments" (GASB 34).
LRW is responsible for the financial statements and related information included in this report. A system of internal accounting controls is maintained to provide reasonable assurance that assets are safeguarded and that the books and records reflect only authorized transactions.
LRW's system of internal accounting controls is evaluated on an ongoing basis by internal financial staff. Independent external auditors also consider certain elements of the internal control system in order to determine their auditing procedures for the purpose of expressing an opinion on the financial statements.
One member of the Little Rock Sanitary Sewer Committee along with the CEO and division managers form the Budget Committee. This committee establishes the goals and financial objectives for the coming year and future years. Each month, financial statements are presented to the Little Rock Sanitary Sewer Committee to show that operations are being conducted according to management's intentions.
LRW management believes that its policies and procedures provide guidance and reasonable assurance that the LRW's operations are conducted according to management's intentions and to a high standard of business ethics. In our view, the financial statements present fairly — in all material respects — the financial position, results of operations and cash flow of LRW in conformity with accounting principles generally accepted in the United States.
Fiscal Year 2017 Budget:
LRW 2015 Financial Audit:
LRW Previous Years Audits:
Under Arkansas State Law also known as "The Arkansas Municipal Water and Sewer Department Accounting Law of 1973", Title 14, Chapter 237, Section 113 (publication of financial statements) states that the operating authority shall publish semi-annual financial statements of receipts and expenditures along with a statement of the indebtedness and financial condition.
Following are monthly financial statements available for download: