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Ensuring Operational Resiliency and Optimization through Internal Control - OWASA Internal Control Review – A Case Study

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Abstract:

The primary objective of this project was to identify short-term and long-term improvements needed at the Orange Water and Sewer Authority (North Carolina) to ensure that the OWASA Board of Directors and OWASA staff have accurate and timely financial information to effectively manage the organization. The key questions that needed to be addressed were:

“How can we be assured that the financial information is timely and reliable?”

“What is the right financial information that we need to operate the utility and achieve our intended results?”

“How far are we from where we need to be and what should we do to get there?”

The Municipal and Financial Services Group was commissioned by OWASA to perform a review of their Accounting and Financial Management and Reporting Systems.

Keywords: Business objectives; action plan; control design; control effectiveness; control use; controls; development time; financial reporting reliability; post-event controls; potential consequences; pre-event controls; probability; risk; trigger; vulnerability

Document Type: Research Article

DOI: https://doi.org/10.2175/193864710798286533

Publication date: 2010-01-01

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  • Proceedings of the Water Environment Federation is an archive of papers published in the proceedings of the annual Water Environment Federation® Technical Exhibition and Conference (WEFTEC® ) and specialty conferences held since the year 2000. These proceedings are not peer reviewed.

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