The Board of Directors for Northern Water and the Municipal Subdistrict adopts budgets in August for the following fiscal year. The budgets contain information about operating expenses, revenues, earning on investments and other financial details.
The Northern Water and Municipal Subdistrict Annual Comprehensive Financial Reports are a set of financial statements that comply with the accounting requirements established by the Governmental Accounting Standards Board. State of Colorado law requires that all local governments and public agencies, within six months of the close of each fiscal year, complete a set of financial statements presented in conformity with generally accepted accounting principles in the United States and audited in accordance with generally accepted auditing standards by a firm of licensed certified public accountants.