Newly released financial reports accompanied by independent audits reaffirm a stable fiscal position for the Metropolitan Water Reclamation District of Greater Chicago (MWRD).

The annual comprehensive financial report (ACFR) of the MWRD and the MWRD Retirement Fund and Other Post Employment Benefits (OPEB) Trust can be viewed here.

The reports provide a detailed overview of the MWRD’s revenues, expenditures and financial position for 2024. This analysis underscores the MWRD’s commitment to transparency and continued investments in critical infrastructure, environmental stewardship and public service for the agency that has been protecting the region’s water environment for over 136 years.

“I would like to thank MWRD Director of Finance Jackie Torres and Treasurer Steve Lux and their staff for their diligence work in preparing the 2024 annual Comprehensive Financial Reports,” said MWRD President Kari K. Steele. “Preparation for this reflects the combined efforts of the dedicated professionals and the operating and support departments. I want to acknowledge their expertise, enthusiasm and focus on excellence. The taxpayers may fully rely on the 2024 ACFR as a fair and accurate presentation on our financial position.”

Operating on a $1.7 billion budget in 2025, the MWRD is tasked with treating wastewater for 5.2 million people across Chicago and 128 surrounding municipalities, managing stormwater for Cook County and protecting the region’s precious water resources. The annual reports are prepared in accordance with generally accepted accounting principles as issued by the Government Accounting Standards Board and meet compliance with statutory requirements that ensure transparency of the annual financial position, including all receipts and expenses.

“I am happy that we have a strong financial team that has taken us through turbulent times,” Chairman of Finance Marcelino Garcia said. “These reports demonstrate to our taxpayers how our healthy finances afford us the opportunity to efficiently meet our mission in protecting our water environment no matter the storm that may come our way.”

The report gives readers insight into the MWRD’s financial management and strategic initiatives. An independent audit, completed by Baker Tilly US LLP with additional evaluation and assessment of the MWRD’s finances, found no material weaknesses or significant deficiencies in MWRD’s internal control. 

For fiscal year 2023, the Government Finance Officers Association of the United States and Canada (GFOA) awarded the MWRD with the Certificate of Achievement for Excellence in Financial Reporting for the 49^th consecutive year, placing the MWRD in the top 2 percent of governments receiving a consecutive award. The GFOA also recognized the MWRD Retirement Fund and the MWRD Retiree Health Care Trust with the Certificate of Achievement for Excellence in Financial Reporting for 31 and 17 consecutive years, respectively. The certificate will be sought for the 2024 Annual Comprehensive Financial Reports.