Building Funding Readiness for Water Utilities
For many small and resource-constrained water utilities, keeping up with financial requirements can be a challenge. Limited staff, time, and financial expertise can make preparing for an audit or similar financial report feel like one more hurdle to clear. However, strong financial practices can do more than meet a requirement. They can help a water utility better understand its finances, prepare for major investments, and pursue infrastructure funding with greater confidence.
The Good News: Utilities can build financial resilience over time.
Ready to Strengthen Your Utility's Financial Readiness?
This presentation walks through what water utilities need to know about financial audits, common challenges, and practical steps to strengthen financial management and build audit readiness.
Why financial reporting matters and what it involves
Common challenges small water utilities face
Practical steps to strengthen financial records and practices
How stronger financial management supports planning and funding readiness
Resources and technical assistance available to help utilities move forward
What You'll Learn
Key Takeaways
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Financial reporting is an important part of building a strong financial foundation. It can help water utilities understand their financial position, identify gaps in their records and practices, and prepare the information needed to pursue infrastructure funding. For smaller utilities, getting audit-ready can be difficult. Staff may have limited time or financial expertise, and utilities may not have the systems or processes needed to easily produce the information an audit requires.
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Many State Revolving Fund (SRF) and other infrastructure financing programs use financial information to assess a utility’s financial capacity. Preparing accurate, complete financial records can help utilities move through the funding process more effectively.
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Small and underserved water utilities often have limited staff capacity and resources. Practical strategies, clear guidance, and technical assistance can make audit preparation more manageable.
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Good accounting and financial practices do more than prepare a utility for an audit. They support better financial decisions, strengthen credibility with funders, and help utilities plan for long-term infrastructure needs.
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EPIC’s Funding Navigator Initiative provides practical guidance, resources, and technical assistance to help small water utilities understand funding requirements and strengthen their readiness to pursue infrastructure investment.
Assess Your Financial Readiness
After watching the presentation, consider where your water utility stands:
Are your financial records complete and up to date?
Do you understand the requirements for your next audit?
What gaps or challenges could make the process difficult?
What steps can you take now to strengthen your financial practices?
Need Help Getting Started?
EPIC’s Funding Navigator Initiative provides small water utilities with practical guidance, resources, and technical assistance to build funding readiness, including support for financial management and audits.