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.