Water Infrastructure Finance Authority

This audit found that the Water Infrastructure Finance Authority has developed processes for prioritizing public drinking water system and wastewater system projects, but additional review steps could help to ensure that eligible projects are accurately scored and the project interest rates appropriately determined. This report also discusses how the outdated federal formula used to allocate Clean Water State Revolving Fund monies does not recognize Arizona’s needs, the significant costs the State faces to comply with the new federal arsenic drinking water standards, and opportunities identified by WIFA’s external auditors to strengthen its internal controls over its accounting and financial reporting systems.