In order to demonstrate that obligations are transparently funded and finances are managed soundly and prudently, we are providing third party assessments of our financial reporting and credit rating.
The Government Finance Officers Association (GFOA) Certificate of Achievement in Financial Reporting demonstrates the Brazos River Authority’s commitment to financial transparency. The GFOA established the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program) to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal. Reports submitted to the CAFR program are reviewed by selected members of the GFOA professional staff and the GFOA Special Review Committee (SRC), which comprises individuals with expertise in public sector financial reporting and includes financial statement preparers, independent auditors, academics, and other finance professionals.
The Brazos River Authority has received an AA bond rating from Standard & Poor’s. This rating is classified as high grade.