Financials

A key indicator of success for GLWA has been responsible financial performance, allowing us to earn the trust of our member partners and investors’ through long-term financial planning.

Below, you’ll see the effort of that transparency and financial responsibility. Or go to Legistar to review our Audit Committee Minutes.

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EXECUTIVE SUMMARY OF BOARD ACTIONS PERTAINING TO ADOPTION OF BUDGET, CHARGES, AND CIP

This document is the summary of Board Actions on February 23, 2022 pertaining to Adoption of the FY 2023 & FY 2024 Biennial Budget, FY 2023 Water and Sewerage Service Charges, and FY 2023 through FY 2027 Capital Improvement Plan

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Special GLWA Audit Committee Meeting May 6, 2022

The GLWA’s Audit Committee shall meet at least four (4) times per year, with the Authority’s Chief Financial Officer, Chief Executive Officer and the Authority’s independent public auditors to review the reports related to the financial condition, operations, performance and management of the Authority.



Financial Policies

The GLWA Board adopts policies to ensure compliance with state laws and good financial management practices.

DWSD Monthly Financial Reports and Other Reports of Interest

GLWA’s outstanding bonds are secured by a statutory lien on the Pledged Assets, including Net Revenues from DWSD Customer Charges, pursuant to Act 94 and the GLWA’s Bond Ordinances. The DWSD financial reports are presented here for reference by stakeholders.

Detroit General Retirement System (GRS) Component II Pension Reports

Consistent with the terms of the foundational Lease agreements and a GRS Pension Agreement, as of January 1, 2016, GLWA assumed responsibility for a pro-rata share of the DWSD Division’s liability for the City’s General Retirement System (“GRS”) pension plan that was frozen and terminated in 2014. For this reason, GLWA’s stakeholders receive and monitor these pension system report to support long-term financial planning.

View the Financial Archives

To look back at GLWA’s financial records, plus select DWSD records, explore our financial archives.