The HCWA complies with all applicable pronouncements of the Governmental Accounting Standards Board, the Financial Accounting Standards Board, and other applicable Federal and State regulations. The Authority's Revenue Bond Resolutions also prescribe an accounting structure and practices, which the Authority adheres to.
The Authority operates as an enterprise fund. That is, the Authority is accounted for as a separate accounting entity with a self-balancing set of accounts. Revenues are recorded when earned and expenses are recorded at the time the liability is incurred, similar to accounting procedures used by private businesses.
An audit is performed annually at the conclusion of each fiscal year by an independent Certified Public Accounting firm. The Authority received an unqualified opinion on the most recent Annual Comprehensive Financial Report (ACFR), as well as on reports from previous years. An unqualified opinion is the optimum opinion to be received as a result of an audit. Following are the audited ACFRs of the Authority.
Annual Comprehensive Financial Reports
- 2023 Annual Comprehensive Financial Report
- 2022 Annual Comprehensive Financial Report
- 2021 Annual Comprehensive Financial Report
- 2020 Comprehensive Annual Financial Report
- 2019 Comprehensive Annual Financial Report
- 2018 Comprehensive Annual Financial Report
- 2017 Comprehensive Annual Financial Report
- 2016 Comprehensive Annual Financial Report
- 2015 Comprehensive Annual Financial Report
- 2014 Comprehensive Annual Financial Report
- 2013 Comprehensive Annual Financial Report
- 2012 Comprehensive Annual Financial Report
- 2011 Comprehensive Annual Financial Report
- 2010 Comprehensive Annual Financial Report